Latest news & developments
MiFID II – FSMA communication on preparation for the entry into force of the MiFID II directive (for the aspects relating to conduct of business rules)
Background This communication has been published in the context of the new legal framework arising from the Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU, and which will enter into force in January 2018. What’s new? The
Ruling: guidance on how amendments to an existing ruling are treated
In its last newsletter published on 13 July, the Belgian Rulings Office has given an interesting clarification on how requests to obtain an amendment to an advance decision (so-called ‘Avenants’) will be treated. This often refers to situations where after the decision was granted certain critical facts change and that comfort is sought on the
Belgian UBO-register on its way
According to the fourth Anti-Money Laundering Directive (2015/849), adopted by the European Parliament on 20 May 2015, one of the obligations of all EU Member States was to establish a national register of ultimate beneficial owners (UBO) before 26 June 2017. Through the introduction of this register, the Member States will have an additional tool
Rulings Office releases 2016 Annual Report
The latest annual report of the Belgian Ruling Office was issued on June 21st. Looking at the statistics, it is clear that 2016 was a positive year with an increase in both the number of rulings granted and the number of pre-filing meetings held. The increase in the number of positive decisions combined with the
OECD releases the draft contents of the 2017 update to the OECD Model Tax Convention
The OECD announced that earlier this week, on 11 July 2017, the OECD Committee on Fiscal Affairs released the draft contents of the 2017 update to the OECD Model Tax Convention (‘MTC’) prepared by the Committee’s Working Party 1. The draft contents of the 2017 update to the OECD MTC has not yet been approved by
Taxation of French-sourced dividends: foreign tax credit available according to the Belgian Supreme Court
On 16 June 2017, the Belgian Supreme Court has reversed the current case law related to the granting of a foreign tax credit in Belgium with respect to foreign-sourced dividends received by Belgian private investors. The case concerned French-sourced dividends which, today, are normally taxed at a rate of 15% in France before being taxed
2017 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations
On 10 July 2017, the Organisation for Economic Cooperation and Development (OECD) announced that it released the 2017 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations (OECD TPG). The 2017 edition is a consolidated version of the various changes resulting from the OECD/G20 BEPS Project. In this respect, in particular the following
EU Parliament adopts resolution on public CbCR
In the fight to crack down on corporate tax avoidance, the European Parliament has voted in plenary that multinational companies should disclose tax information in each country they operate. Consequently, multinationals with a worldwide turnover of minimum EUR 750 million should publicly disclose how much tax they pay and where, including taxes paid outside the EU. Large firms
