2% increase of Flemish real estate registration duties for investors
The Flemish Minister-President announced in his September declaration important changes concerning the registration duties (as part of a larger preliminary draft Programme Decree containing provisions to accompany the 2022 budget). On 14 October, the Flemish Government approved in principle such preliminary draft Programme Decree. Accordingly, whoever buys a single and own home in Flanders to
‘COVID-19’ rent free period: a new tax credit for real estate owners
Several measures were very recently adopted (for some, they existed already and were simply extended) by the Belgian legislator through its Law dd. 2 April 2021 on temporary support measures in the light of the COVID-19 pandemic. Among these measures, an incentive is made available to Belgian taxpayers with respect to real estate (including Belgian
Mandatory disclosure rules for intermediaries (DAC 6) – Belgian law adopted by the Chamber of Representatives
On 12 December, the draft bill implementing the EU Council Directive 2018/822/EU of 26 May 2018, also known as “DAC6 Directive”, has been adopted by the Chamber of Representatives. In short, DAC6 provides for the obligation to declare certain cross-border tax arrangements to the Belgian tax authorities. This obligation is incumbent on both taxpayers
Proposal of 27 March 2019 introducing provisions on the basic banking service for companies in Book VII of the Economic Law Code
On 27 March 2019, a proposal of law was submitted in the Belgian Parliament aiming to introduce the basic banking service for companies. Similar provisions on the basic banking service already exist, but they only apply to consumers. The new provisions will be inserted in Book VII of the Economic Law Code. In practice, companies
Shareholder Rights Directive II. Financial institutions, are you prepared?
In May 2017, the European Parliament and the Council approved Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement (the Shareholder Rights Directive II or SRD II). The due date of 10 June 2019 for the transposition of this new Directive into national law is approaching fast. So far, the
Important changes to the regime of specialised real estate investment funds (FIIS/GVBF)
The status of specialised real estate investment fund is organised by the Act of 19 April 2014 on alternative undertakings for collective investment (“AIFs”) and their managers and by the Royal Decree of 9 November 2016 on the specialised real estate investment fund (“FIIS/GVBF”). On 25 April 2019, a law containing various financial provisions (the
ECJ on sale-and-leaseback: new and interesting development in VAT
Last week the EU Court of Justice handed down a very interesting judgment regarding sale-and -leaseback transactions. The judgment radically impacts the way such and similar transactions are currently treated from a VAT perspective in Belgium. Mydibel is a regular tax payer and the owner of several buildings in Belgium. Mydibel fully recovered the VAT paid
First administrative comments on VAT on rent published!
The VAT administration published today the first commentary (Frequently Asked Questions) on the letting with VAT that came into force on 1 January 2019. For buildings that are under construction, already marketed and eligible for the optional VAT regime, it is essential to monitor the practical issues. The key points addressed in the FAQ’s are
