Additional extension for the filing of corporate tax returns: 16 November 2020
In the newsflash of July 2020, we informed you that the Minister of Finance decided to extend the initial filing due date for filing the corporate income tax returns of assessment year 2020 to 29 October 2020. All Belgian companies (and foreign entities having a Belgian establishment) could benefit from this extension. It has now
Tax loss carry-back system: administrative circular letter published
On 22 September 2020, the Belgian tax authorities issued a circular letter (administrative guideline) in relation to the tax loss “carry-back” system. Previously, a Royal Decree was published on 1 September 2020 which further clarifies the formalities to be fulfilled in order to apply the loss “carry-back” system. In our newsflash of 2 July 2020,
Corporate tax update: Recent circular letter, advance tax payments Q3 opportunity
Considering the exceptional business environment various corporate income tax measures have been taken to sustain the liquidity and solvability position of both resident and non-resident corporate taxpayers. Advance tax payments A recent circular letter of 1 September 2020 confirmed the conditions and increased credit percentages for advance tax payments that can be made in the
Data automation and XML conversion for the social passive exemption
The introduction of the unified employment status as from 1 January 2014 results generally in increased dismissal costs for employers. To support employers in dealing with these increased costs of dismissal, the legislator introduced the so-called ‘Exemption for social passive’. See one of our previous posts for more detail on the “corporate tax exemption for
Carry-back of losses: law published – listen to our podcast
On 1 July 2020, the law on the temporary tax exemption of profits in anticipation of tax losses realized in the COVID-19 period (the so-called tax loss “carry-back” system) was published in the Belgian Official Gazette. The new law aims to strengthen the liquidity and solvency of companies that were in a sound condition but
COVID-19: New supportive Belgian tax measures
On 16 May 2020, after the first wave of supportive measures to mitigate the consequences of the COVID-19 crisis, the Council of Ministers adopted a draft law including new tax recovery measures. These provisions have as main aim to avoid a series of bankruptcies and to help companies to rebuild their liquidity and solvency positions.
Belgian subsidiaries of a listed company to register their corporate structure in the UBO-register
In previous news flashes we already informed you about the implementation of the UBO register, the extension of the deadlines and the updates of the Frequently Asked Questions (FAQ). In the updated version of the FAQ, published on 19 July 2019, the Belgian authorities stated that listed companies are exempted from registering their UBO’s if
Temporary corporate tax exemption for social passive: to be spread over 5 years
On 22 March 2019, the Act modifying the specific corporate tax exemption for social passive was published: the exemption now needs to be spread over 5 years. Recap As a short recap, article 67quater Belgian Income Tax Code 1992 (introduced by the Act of 26 December 2013) allows Belgian companies and Belgian establishments to exempt
