On 1 February, the OECD released key documents which will form the basis of the peer review of the Action 5 transparency framework and for the peer review of Action 13 Country-by-Country Reporting. The Action 5 standard for the compulsory spontaneous exchange of information on tax rulings (the “transparency framework”) and the Action 13 standard on Country-by-Country Reporting
Belgium has adopted on 22 December 2016 the law covering the implementation of the European Commission (‘EC’) decision of 11 January 2016 (‘Decision’) with regard to the Belgian excess profit provision based on Article 185 §2 of Belgian Income Tax Code 1992 (‘BITC’). The law, which has been drafted in cooperation and with the approval
Today, the Royal Decrees that contain the various models of the forms Belgian entities need to use to submit the Master File, Local File and CbC Report were published in the Belgian Official Gazette. This is the closing stone of the formal introduction of transfer pricing documentation requirements into Belgian tax law. Together with the
On 25 October 2016, the European Commission (EC) adopted yet another comprehensive tax package which consists of four new draft EU Directives on: a Common Corporate Tax Base (CCTB Directive) a Common Consolidated Corporate Tax Base (CCCTB Directive) hybrid mismatches with third countries double taxation dispute resolution mechanisms in the EU (Dispute Resolution Directive) In
This summer, the Parliament adopted a range of new tax measures (more details below). Other measures are currently under review at the Chamber or pending before the State Council. More details on the new tax measures are announced on our website: Tax reform in Belgium. Patent income deduction The Act of 3 August 2016 providing
The referendum result on Brexit has not only led to economic and political uncertainty within the UK, but also on mainland Europe. The final impact of Brexit is yet unknown, but will certainly weigh down on our economy, business activity and financial markets. You may find the following PwC Brexit Monitor on the subject matter interesting.