2023 proxy season – Belgian Companies brace for Shareholder Vote on Remuneration Policy
Belgian companies are gearing up for their annual general meetings and preparing for the vote on their remuneration policy and report, as mandated by the revised shareholder directive (SRD II). This vote, known as “say on pay,” allows shareholders to have a say in the company’s remuneration policy and report. Under the SRD II, companies
Pay transparency is coming! How to get it right?
On 30 March 2023, the European Parliament adopted the Pay Transparency Directive with the aim of eliminating the gender pay gap by providing workers with access to information necessary to assess whether they are being paid fairly compared to other workers in the same organization. The directive also introduces enforcement mechanisms enabling workers to claim
Possible important amendments to the stock option legislation and the introduction of a specific tax regime for free shares
A government proposal regarding new legislation with respect to stock options and stock plans was announced in the Belgian press last week. Below you can find a short overview of the proposed changes with some initial high-level reflections. It is however important to note that no texts are currently available and that it is currently
Benefit in kind – Private use of a company car: updated formula for 2023
The Royal Decree implementing the new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published in the Official Gazette on 16 December 2022. For income year 2023, the following CO2 emission will be applied to
The directive on pay transparency: what you need to know
The Pay Transparency Directive has been adopted by the European Council, but still needs to be voted on by the European Parliament. It aims to eliminate the gender pay gap by empowering workers to access the necessary information to assess whether they are paid in a non-discriminatory manner compared to other workers in the same
PwC’s Workforce Podcast – The 2022 Labour Deal
The 2022 Labour Deal The Chamber of Representatives has voted the Belgian government’s 2022 Labour Deal into law: a set of labour market reforms that introduce increased flexibility and redeployment measures. The goal of these reforms is twofold: improve employees’ work-life balance and increase the employment rate in Belgium to 80% by 2030. Listen to
Belgian special tax regime: Royal Decree regarding the content of the form to apply for an extension
Previously, the forms to request the application of the new special tax regime applicable for incoming taxpayers & researchers were already issued. A new Royal Decree of 1 September 2022 (published in the Belgian Monitor on 19 September 2022) provides more information on the content of the form that will have to be used in
How to deal with shareholders’ dissent on say-on-pay?
Most companies held their annual general meeting for the financial year 2021 by now. At this occasion, shareholders expressed their view on the company’s pay practices through their advisory vote on the remuneration report and, where appropriate, their binding vote on the remuneration policy. What if shareholders acceptance in their policy and/or report voting is
