Please be informed that the Government has announced strengthened sanctions in case of the late filing of annual accounts.
In its policy document of 2 December 2014, aiming to combat tax fraud, the Government has announced its intention to take firmer action against companies that fail to file their annual accounts within the statutory time period.
Companies failing to file their annual accounts with the National Bank of Belgium within six months after the end of their accounting reference period (i.e. their financial year end) shall be subject to a special regularisation period of six months. If they fail to file their annual accounts within this second six-month period, their registration number in the Belgian central database of undertakings – the KBO/CBE – will be officially deleted. (Currently, the KBO/CBE number is not deleted until a company has failed to file its annual accounts for three consecutive years.)
It is further proposed that a company failing to file any annual accounts during the two years following its financial year end can be wound up if the tax authorities so require. After liquidation, any positive balance will accrue to the Belgian Treasury.
Please contact your PwC team in case of questions with respect to the above.