Belgian Federal Government approves law introducing a minimum tax for multinational companies (Pillar 2)
Yesterday, on 14 December 2023, Belgium approved the final law introducing a minimum tax for multinational companies and large domestic groups. This is the Belgian transposition of Council Directive (EU) 2022/2523 of 15 December 2022 ensuring a global minimum level of taxation for groups of multinational enterprises and large domestic groups in the European Union.
Filed your transfer pricing documentation in due time?
The Belgian Tax Administration (BTA) continues to send out letters to eligible taxpayers for missing/late filing of the mandatory transfer pricing documentation, as the case may be: The country-by-country report (art. 321/2 BITC), The country-by-country report notification (art. 321/3 BITC) The master file (art 321/4 BITC), The local file (art 321/5 BITC). For the first
PwC’s Pillar Two Country Tracker
PwC has recently launched the Pillar Two Country Tracker, a tool designed to track the status of the implementation of Pillar Two around the globe. Specifically, Pillar Two focuses on the introduction of a global minimum Effective Tax Rate (ETR) applicable to multinational groups with consolidated revenue of over €750 million. Such groups will be
Belgium agrees on core principles for implementation of the Global Minimum Tax (GloBE/Pillar 2) for MNE’s and some additional tax measures
The Belgian government reached an agreement on the Federal budget. After long discussions within the government, a number of measures have been decided that will reduce expenditures and measures that will increase revenue. One of the key elements in the budget decision was the decision on the core principles of the introduction of Pillar 2
PwC’s Tax Bites podcast: OECD issues Administrative Guidance on Pillar 2
In this episode, we discuss our first impressions of the 111-page Administrative Guidance on Pillar 2 published by the OECD on Thursday, 2 February 2023. A wide range of issues related to the GloBE Rules and Commentary were addressed in the guidance, and our experts also welcomed the additional clarification and examples, including those on
OECD issues Administrative Guidance on Global Anti-Base Erosion Model Rules (Pillar 2)
On 2 February 2023, the OECD released the long-awaited Administrative Guidance on the Pillar 2 Model Rules. The GloBE Rules and Commentary consist of a coordinated system of rules designed to ensure that large MNE Groups are subject to a minimum effective tax rate of 15%. This set of rules are also to be implemented
Tax Bites Podcast: Incentives
On the foot of Russia’s invasion of Ukraine, the European energy landscape is facing unprecedented challenges. The response, on the part of the European Union and its member states, is to accelerate the energy transition. Although decarbonisation of our energy systems was always on the agenda in recent years, the current crisis accentuates the need
Tax Bites Podcast: Discussion draft on Pillar One – Amount B published
On Thursday, 8 December 2022, the OECD/G20 Inclusive Framework published another discussion draft in the two-pillar solution to address the tax challenges arising from the digitalisation of the economy. The document outlines the main design elements of Amount B, a part of the two-pillar approach that until now was relatively undefined. During this episode of
