Belgium launches pilot program on cooperative tax compliance
The Large Enterprises Division of the Belgian tax administration (“LE Division”) announced the launch of a two-year pilot project on cooperative tax compliance (Cooperative Tax Compliance Program – “CTCP”). The program is aimed at transforming the traditional approach of ex-post tax investigations towards a system of proactive, real-time and constructive dialogue on the tax affairs of corporates.
Belgian implementation of the UBO register
As mentioned in our previous newsflash of 19 July 2017, according to the fourth Anti-Money Laundering Directive (2015/849), adopted by the European Parliament on 20 may 2015, one of the obligations of all EU Member States was to establish a national register of ultimate beneficial owners (UBO) before 26 June 2017. Through the introduction of this
OECD publishes long-awaited public discussion draft on the transfer pricing aspects of financial transactions
On 3 May 2018, the OECD published a long-awaited public discussion draft on the transfer pricing aspects of financial transactions. With this publication, the OECD has reached another important milestone in the BEPS saga. As all groups have such transactions, the importance of the discussion draft cannot be underestimated. The discussion draft has been developed
OECD publishes (long awaited) additional guidance on hard-to-value intangibles and profit split methods
In view of landing on the Transfer Pricing track in its work to curb Base Erosion and Profit Shifting (BEPS Actions 8-10) the OECD published two new reports on 21 June 2018: Guidance for tax administrations on the application of the approach to hard-to-value intangibles; and Revised guidance on the application of the profit split
EMEA ITS Webcast – How mandatory disclosure for intermediaries (DAC6) impacts multinationals
As per our previous update, the ECOFIN Council formally adopted – on 25 May 2018 – the directive on mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements – also known as DAC6. As the directive will already enter into force in the next weeks and will have an
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
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.
