Over the past few weeks, the Belgian government has taken many measures to reduce the impact of the COVID-19 crisis. Even though many filing and payment delays have been announced, no communication has (currently) been made as regards the filing due date of the fee forms 281.50.
Consequently, as per today, fee forms 281.50 are still required to be filed on or before 29 June 2020 with respect to commissions, fees, trade discounts, allowances, fringe benefits, … charged and/or attributed during the calendar year 2019.
As a quick recap
Fee forms 281.50 have (amongst others) to be drawn up for commissions, fees, rebates, etc:
- if the person or legal entity receiving the commissions, fees, … is not subject to the accounting requirements for enterprises, as stipulated in the Belgian Code of Economic Law; or
- if the person or legal entity subject to the above law, is exempted from issuing an invoice for services delivered according to Belgian VAT law; or
- if commissions, fees, … are granted to individuals and entities subject to the above-mentioned accounting requirements but which are using the so-called self-billing application;
If the above-mentioned charges and/or attributions are not properly reported on fee forms 281.50 in due time, the taxpayer can be liable to a special effective taxation in the sum of 102% or 51% (in case the beneficiary is subject to corporate income tax). On top, administrative fines can be imposed.
Proper compliance with the fee form 281.50 reporting obligation is therefore an important topic to put on the agenda during these hectic COVID-19 days in order to avoid an effective cash out in the medium term.
Please feel free to get in touch with your regular contact person to discuss the above. He/she will be happy to support you or refer you to one of our specialists if needed.