On 10 December 2019, the draft repair act containing various changes to the 30% EBITDA rule has been withdrawn from the chamber leaving taxpayers in uncertainty on the application of the rule. However on 27 December 2019, a Royal Decree related to the 30% EBITDA rule has been published. The Royal Decree includes some of
Mandatory disclosure rules for intermediaries (DAC 6) – Belgian law adopted by the Chamber of Representatives
On 12 December, the draft bill implementing the EU Council Directive 2018/822/EU of 26 May 2018, also known as “DAC6 Directive”, has been adopted by the Chamber of Representatives. In short, DAC6 provides for the obligation to declare certain cross-border tax arrangements to the Belgian tax authorities. This obligation is incumbent on both taxpayers
The draft bill containing various modifications to article 198/1 BITC 92 (i.e. 30% EBITDA rule), has been removed from the agenda of the Finance Commission. Therefore it is unrealistic that these modifications will be adopted before year-end. The modifications included in the draft bill – and which are hence not adopted – include the allocation of
Transfer pricing documentation has become an integral part of the compliance obligations of Belgian entities. The criteria, formalities and deadlines should therefore be followed up closely. Please find below a short summary of the obligations to be complied with by 31 December 2019. What? A Belgian entity part of a multinational group exceeding at least one
On 8 November, the Organisation for Economic Co-operation and Development (OECD) Secretariat published a Public consultation document: the Global Anti-Base Erosion Proposal (‘GloBE’) (Pillar II) which seeks stakeholders’ views on the introduction of common global minimum tax rules across the more than 130 countries participating in the OECD Inclusive Framework. Such rules would operate through top-up taxes
The proposal seeks to allocate a greater share of taxing rights to the countries where consumers/users are located – regardless of a business’ physical presence there.