Latest news & developments
New Bank Tax: Filing and Payment Deadline set to 30 November 2016
The Belgian Act of 3 August 2016 implemented a “new yearly tax on credit institutions replacing the existing yearly taxes, the limitations to the corporate income tax deductions and the financial stability contribution” under articles 201(10) and following of the Belgian Code of Various Duties and Taxes (below referred to as the “New Bank Tax”).
EU delays new rules on insurance-based investment products (PRIIPs) by one year
The Commission has just proposed an extension for the date of application of the Regulation on Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs). The Commission and a Council Working Group agreed in a meeting on Wednesday morning 9 November 2016 to delay the implementation of the PRIIPs Regulation, following discussions earlier
The Belgian Financial Services and Markets Authority adds crowdfunding to its communication on public offers that are exempted from the prospectus obligation
On 27 October 2016, the Belgian Financial Services and Markets Authority (FSMA) released its amended communication on public offers that are exempted from the obligation to publish a prospectus. Providers who wish to publicly offer a crowdfunding type of investment can also benefit from the statutory prospectus exemption. Statutory prospectus exemption for crowdfunding The applicable
New upcoming tax measures
Recently, the Belgian Minister of Finance published a general policy regarding “public finances”, “boosting of the economy/entrepreneurial climate” and “combat against tax fraud”. Based on this policy, certain new tax measures will be introduced in the upcoming months. From a personal income tax perspective, the following changes are anticipated: further increase in the withholding tax
European Commission proposes Corporate Tax Package
On 25 October 2016, the European Commission (EC) adopted yet another comprehensive tax package which consists of four new draft EU Directives on: a Common Corporate Tax Base (CCTB Directive) a Common Consolidated Corporate Tax Base (CCCTB Directive) hybrid mismatches with third countries double taxation dispute resolution mechanisms in the EU (Dispute Resolution Directive) In
Belgian-regulated investment funds: tax-on-tax
On 20 October 2016, the Belgian Constitutional Court rendered a decision confirming the non-discriminatory character of the requirement for Belgian-regulated investment funds (such as SICAV/SICAF and the new FIIS), Regulated Real Estate Companies (RRECs) and Pension Funds organised as OFPs to report corporate income tax expenses/provisions as disallowed expenses in their corporate income tax returns, resulting
New double tax treaty signed between Belgium and Japan
On 12 October 2016, the new Belgium-Japan Income Tax Treaty was signed in Tokyo during the Belgian economic mission. Once in force and effective, the new treaty will replace the old Belgium-Japan Income Tax Treaty (1968) as amended by the protocols signed in 1998 and 2010. The treaty will enter into force 30 days after
Belgian Accounting Standards Commission issues opinion on Belgian GAAP treatment of discounting deferred taxes
The Belgian Accounting Standards Commission (‘CBN/CNC’) has considered whether deferred taxes on capital grants and realised capital gains can – from a Belgian GAAP perspective – be recognised in a company’s balance sheet at the discounted value of the deferred tax. Under Belgian GAAP, deferred taxes should be recognised in a company’s balance sheet at
