How to ensure timely filing ?
Belgian companies (and non-resident companies with a Belgian establishment) have the yearly obligation to file a Belgian (non-resident) corporate income tax return within the statutory deadline.
As of this year, the general principle states that regardless of the date of the general meeting, a financial year that ended per 31 December 2020 – the tax return (linked to assessment year 2021) should be filed within 7 months after the end of the financial year (i.e. 30 July 2021).
Due to the extraordinary circumstances related to the COVID-19 crisis, the tax authorities have decided that companies with a financial year ending between 31 December 2020 and 28 February 2021 can benefit from a general filing extension until 28 October 2021. The extension applies to all legal entities regardless of filing method, legal status or type of declaration.
If it is not possible to meet this deadline, it could be considered to ask an individual delay directly to the Belgian tax authorities. Practice however shows that such individual delays are very rarely granted, being only in case of extraordinary events qualifying as ‘force majeure’
In line with prior years, the transfer pricing local form ‘275 LF’ should also be filed within the same due date as the Belgian (non-resident) corporate income tax return in case of Belgian companies and branches that exceed certain criteria.
It may however be important to note that at the latest by 1 January 2025 all filings need to be done through a specific module on the MyMinFin platform (which requires a Belgian e-ID or a specific login like ‘Itsme’). As it is unclear when this electronic filing procedure will be obligated for the filing of the Belgian corporate income tax return, we suggest companies to take the necessary steps in the near future for having access to the specific platform.
How can we help?
Our experts are ready to assist you in:
- Assisting with the preparation and/ or review of the tax return or form 275 LF;
- Analysing potential optimizations in your tax declarations. This could be amongst others the reconstitution reserve, the possibility to tax specific tax free reserves at a lower rate and/or the possibility to make use of tax consolidation, the social passive exemption,… ;
- Assisting with the computation of the interest limitation rule (the so-called “30% EBITDA-rule”);
- Analysing and computing the impact of the last wave of the tax reform;
- Providing further guidance on how to access/use the specific module on the MyMinFin platform.
Please feel free to contact 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.
We also take the opportunity to remind you that the fee forms 281.50 relating to calendar year 2020 should be filed on 29 June 2021 at the latest.