Transformative Indirect Taxes Reforms to Boost Sustainability, Efficiency, and Transparency in Belgium
As part of the recent government agreement, the new Belgian government has introduced a series of proposed changes in indirect taxes aimed at supporting sustainability, enhancing transparency, and simplifying the tax system. Below are the key highlights designed to create a more efficient fiscal environment that aligns with climate objectives, reduces administrative burdens, and combats
Draft Belgian Qualified Domestic Minimum Top-up Tax Return published
On Friday 18 October 2024, the Belgian tax authorities published the first version of the draft Belgian (Qualified) Domestic Minimum Top-up Tax return (also referred to as QDMTT return or QDMTT form) to be submitted by Belgian entities subject to the Belgian law introducing a global minimum tax (or Pillar 2). What is Pillar 2?
How key interest rate cuts and stabilising inflation might impact your transfer pricing policy
The past few years the financial markets have been characterised by a significant increase in interest rates battling the surge in inflation throughout the world. Since the arm’s length principle requires intercompany transactions to appropriately reflect current market conditions, these exogenous elements have led companies to update their financing policies and more specifically their transfer
Pillar 2 Advance Tax Payments Are Live!
As announced by the Belgian tax authorities today, starting September 2, 2024, MNO groups and large domestic groups can initiate their advance payments for top-up taxes under Pillar 2, provided they have obtained their Pillar 2 group number following the mandatory notification (P2-CBE-NOT form; click here for more details). The advance payments for the minimum
Pillar 2 notification: Administrative tolerance until 16 September
On 29 May 2024, the Royal Decree was published requiring Belgian entities of a Multinational Group to register with the Crossroads Bank of Enterprises (KBO or BCE) in order to comply with the Pillar 2 compliance formalities within 30 days after the first day of the first year in scope of Pillar 2 (or before
Is your company ready for the upcoming compliance deadline?
Statutory financial statements As you probably are aware, Belgian companies should annually deposit their statutory financial statements with the National Bank of Belgium. Filing should be done within 30 days after the financial accounts have been approved by the Annual General Meeting of Shareholders and no later than 7 months after the end of the
Belgian Tax Authorities publish additional (and much welcomed) guidelines in view of the Co-Operative Tax Compliance Programme and details on what they consider to be a “mature” Tax Control Framework (TCF)?
Flashback to 2018 – What is the CTCP? With its launch in 2018 and with the ultimate goal of (i) achieving faster legal certainty for companies and (ii) improving compliance with tax obligations, the Belgian Co-operative Tax Compliance Programme (CTCP) introduced a mindshift, from a reactive tax audit modus to a collaborative, proactive approach based
Advance tax payments: Mind the significant increase of the surcharge
A surcharge is due on the final amount of Belgian corporate income tax payable upon assessment in case a company doesn’t settle its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned. Please be advised that the global surcharge will be increased to 9% for assessment year
