Extended due date & Accelerated refund
Whilst the general due date for filing is the end of the seventh month after year-end closing, an additional term till 17 October 2022 has now been confirmed for Belgian companies, Belgian legal entities and foreign entities with a financial year-end from 31 December 2021 up to 28 February 2022 .
Taxpayers entitled to a tax refund managing to file the tax return by 15 September 2022, will be treated on a priority basis and generally can expect to receive the actual tax refund by 31 December 2022.
Filing a complete, timely and well-documented tax return is not only important to safeguard deductions and tax incentives applied, but also to avoid penalties and unnecessary scrutiny by the Belgian tax authorities.
Individual delays will only be granted in exceptional circumstances (beyond any possible control of the company) whereby the “force majeure” is actually evidenced.
The filing needs to be processed via the Biztax e-filing platform.
Also this platform is expected to be integrated in the MyMinfin Pro platform in the near future
Transfer pricing local form ‘275 LF’
Belgian entities that are part of an international group that exceeded at least one of the following criteria (to be assessed based on the stand-alone statutory annual accounts of the Belgian tax payer) in the preceding financial year are required to submit a local form and a master file/form:
- operating and financial income (excluding non-recurring income) of EUR 50.000.000;
- balance sheet total of EUR 1.000.000.000;
- annual average headcount of 100 FTE’s.
The local form which is an integral part of the corporate income tax return (although both forms should be filed separately) has to be submitted by the same due date as the tax return while the master file/form has to be submitted within a period of 12 months after the closing of the financial year.
In the case of non-submission, late submission or incomplete submission, an administrative fine of up to EUR 25.000 can be imposed.
The required filing in XML format is achieved through the MyMinfin Pro e-platform.
How can we assist you?
Struggling with the latest changes in the reporting requirements or facing a lack of resources to meet the due dates, we will be happy to assist with the preparation or a review of the draft forms and enclosures.
For more insights and support, contact your regular PwC advisor (or Tim Pieters or Karl Struyf).
