6th State reform: Taxation of individuals – Changes published
On the 28th of May 2014 the law reforming the Belgian Income Tax Code in light of the 6th state reform has been published in the Official Gazette. Due to this state reform Regions (Flanders, Brussels and Wallonia) will obtain increased fiscal autonomy. A portion of the personal income tax will be attributed to the
Foreign business trips – Costs proper to the employer
Foreign business trips – Costs proper to the employer Costs incurred by employees during foreign business trips can be reimbursed free of income tax by their employer on a lump sum basis, provided the amount reimbursed is in line with the expense rates applied by the government for its own state personnel. As stated in
Update of the company car benefit in kind formula for 2014
Update of the company car benefit in kind formula for 2014 Today a Royal Decree has been published that changes the formula used for determining the benefit in kind for company cars. It is dated 24 January 2014 and applies both to employees and company directors. For income year 2014, the reference CO2 emission for
Telework and taxation
In a recent practice note of 16 January 2014, the Belgian tax authorities expressed their point of view regarding the income tax treatment in relation to the attribution of a computer and/or internet connection and internet subscription within the framework of teleworking. The practice note is generally applicable to employees and company directors working at
Proposed change – Revisiting the meal voucher system
A recently introduced proposal to change the current meal voucher system in Belgium seeks to maintain the benefits of the current system, while eliminating the additional cost and administrative burden. The proposal suggests replacing meal vouchers with meal allowances. The conditions for benefitting from the advantageous tax and social security treatment would remain unchanged. Please
Expected new EU rules on executive pay in public companies. How might they impact Belgian listed companies?
Is Belgium a step ahead of the game? Over the past five years, pay policies in public companies and financial services have been under deep scrutiny. To increase transparency on pay, there has been a shift from mere recommendations to more stringent rules set down in law, especially in the field of financial services. While
The PwC & ISW Limits Reward Barometer
Against a backdrop of economic turbulence, attracting, motivating and retaining talent while keeping costs in check can be a challenge. Motivation is tightly linked to the rewards people receive for their labour, so while organisations are forced to do more with less, they also have to enhance the perceived value of their rewards, both financial
Costs proper to the employer – Belgian business trips
Costs incurred by an employee during a Belgian business trip can be reimbursed free of income tax by their employer on a lump sum basis, provided the amount reimbursed is in line with the expense rates applied by the government for its own state personnel. In a recently published Q&A, the Minister of Finance confirmed
