New Double Tax Treaty between France and Luxembourg: impact on real estate structures
On March 20, the Luxembourg and French Governments have signed, amongst other, a new double tax treaty (DTT), together with an accompanying Protocol. The new DTT seeks to modernise the rules applying. The current treaty between Luxembourg and France was signed as long ago as 1 April 1958. The new DTT is fully “post-BEPS”. It
Belgian tax reform reduces corporate rate to 25% and introduces fiscal consolidation
On 26 July 2017, the federal government reached an agreement on an important tax, economic and social reform package. A significant gradual reduction in the corporate income tax rate to 25% in 2020 and fiscal consolidation are key components of the package. The agreement preserves the notional interest deduction. The tax reform is built around
Belgian tax reform: impact on the real estate industry
Yesterday, the Belgian government reached an agreement on several tax measures, including a corporate tax reform and the introduction of an option to apply VAT on immovable letting. Although these measures will be developed further in detail in the coming months, it is already certain they will have an important impact on the Belgian real
Belgium decides to reduce corporate tax rate from 34% to 25%
Remark: The following announced measures will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. On 26 July 2017, the Federal government reached an agreement on an important corporate tax reform, significantly reducing the corporate tax rate. More details will follow below.
Draft Law amending the regime for B-REITs (regulated real estate companies) submitted to the Belgian Parliament
On 27 June 2017, a draft Law on Belgian REITs (the so-called Regulated Real Estate Companies or B-REITs) was submitted to the Belgian federal Parliament. The draft Law amends the existing regime for public and institutional B-REITs and introduces a new category of B-REITs with social purpose. What’s new? The majority of the new provisions
Publication of Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds
PwC is pleased to inform you that the Royal Decree dated 9 November 2016 on Belgian specialised real estate investment funds (better known as “fonds d’investissement immobilier spécialisé” or FIIS / “gespecialiseerd vastgoedbeleggingsfonds” or GVBF) has been published in the Belgian Official Gazette of today, 18 November 2016. As you know, this new investment vehicle
Belgian-regulated investment funds: tax-on-tax
On 20 October 2016, the Belgian Constitutional Court rendered a decision confirming the non-discriminatory character of the requirement for Belgian-regulated investment funds (such as SICAV/SICAF and the new FIIS), Regulated Real Estate Companies (RRECs) and Pension Funds organised as OFPs to report corporate income tax expenses/provisions as disallowed expenses in their corporate income tax returns, resulting
Royal Decree of 10 July 2016: a new start for alternative investment funds investing in non-listed companies and growth businesses?
On 4 August 2016, the Royal Decree on alternative investment funds investing in non-listed companies and growth businesses was published in the Belgian State Gazette. Its main objective is a new start for investment companies with fixed capital investing in non-listed companies and growth businesses (Public Privaks) (“Publieke Privak”/“Pricaf Publique”). The objective The Royal Decree
