Summary of what has changed during the summer: newly-adopted tax measures
This summer, the Parliament adopted a range of new tax measures (more details below). Other measures are currently under review at the Chamber or pending before the State Council. More details on the new tax measures are announced on our website: Tax reform in Belgium. Patent income deduction The Act of 3 August 2016 providing
New lump-sum amount for reimbursement of business use of private car
Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0.3363 per kilometre. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a lump-sum basis, taking
Lost in Transactions – Your one-stop guide for everything you need to know about BEPS and M&A
We are pleased to announce that M&A Tax & Legal Services just finalised a publication which will guide you in everything you need to know about BEPS and M&A. ‘Lost in transactions’ is a practical guide to managing M&A deals in today’s global, digital world. Please find more information and the PDF version of the
Cayman Tax: applicable to privately managed funds
Yesterday, the Finance Minister clarified the scope of the Cayman tax with respect to funds. According to the Minister, the tax covers private, institutional and public funds, which are de facto privately managed. Besides, should it prove necessary to legislate further, that would be done quickly and efficiently, according to the Minister. The Cayman Tax
New daily lump-sum allowances list as from 1 April 2016
An employer/company can pay daily lump-sum allowances for foreign business travel to employees or company directors in order to reimburse certain expenses. If the lump-sum reimbursements for short-term business trips abroad (not exceeding 30 calendar days) are determined on the basis of the list of allowances paid by the Federal Public Department of Foreign Affairs
The launch of tax audits in 2016
The Belgian tax authorities have recently announced their focus areas for upcoming tax audits in order to encourage individuals and companies to fulfil their tax obligations. As from 2013, the Belgian tax authorities started auditing certain individuals who are employed under the special tax regime for foreign executives in Belgium. When looking at the new
Company-provided family allowance – exempted from social security contributions
Companies can, for example within a flexible reward plan, opt to grant their employees (with children) a so-called ‘family allowance’, which is an additional child benefit on top of the statutory child allowance. Recently, the Belgian Supreme Court has decided that such allowances are not to be considered as “salary” for social security purposes. Consequently,
Meal vouchers and non-recurring collective bonuses – adjustment to maximum amounts
The Act of 6 December 2015 contained the following adjustments with respect to ‘meal vouchers’ and ‘non-recurrent collective bonuses’, applicable as from 1 January 2016.
