Latest news & developments
Circular letter relating to the settlement of cross-border tax disputes in the European Union
On 1 December 2023, the Belgian tax authorities issued a circular letter (2023/C/95) relating to the settlement of cross-border tax disputes in the European Union. This circular letter provides clarification to help overcome the difficulties that may arise in the interpretation or application of the law of 9 May 2019 implementing Council Directive (EU) 2017/1852
Countdown Alert! The 1st CBAM Report deadline is less than 20 days away
Take a moment to assess your organisation’s reporting readiness! – Ensure which (all) of your entities need to report before the deadline. – Verify that you have access to the EU CBAM Reporting (CBAM Transitional Registry) for all of your reporting entities and the person(s) responsible. – Manage a base-level data for reporting so you
Tax and Legal aspects of ESG in an M&A context – The deal Execution phase
In previous articles, we zoomed in on the importance of managing carefully the ESG (or at large “Sustainability”) hard and soft laws during the pre-deal phase of the M&A process. It was demonstrated that dealing/understanding the sustainability challenges during both the deal sourcing as well as the due diligence phase, actually contributes ultimately to
Default Values for the Transitional Period of the EU CBAM published
Good news! We have an early Christmas present from the Commission. On 22 December 2023, the EU Commission published the long awaited Default Values for the Transitional Period of the EU CBAM between 1 October 2023 and 31 December 2025. Do note that for each import of goods for which the reporting declarant does not
Tax Bites Podcast – New Administrative Guidance on Pillar 2 and new timeline Pillar 1 – Amount A
A first critical look at the items addressed by the Administrative Guidance! In this episode, we share our first impressions of the Administrative Guidance on Pillar 2 published by the OECD on Monday 18 December 2023. A wide range of issues related to transitional safe harbours, the GloBE Rules and the Commentary are addressed in
UK introduces Carbon Border Adjustment Mechanism (CBAM) in 2027: key measures to consider
On the 18th of December, the UK government announced the UK Carbon Border Adjustment Mechanism (CBAM) as a measure to address the carbon leakage risks. The UK CBAM is foreseen to be implemented from 2027. Here are some of the key takeaways from this latest announcement: UK CBAM implementation: Will be implemented from 2027 Will
2024 is almost here and so is the deadline for the 1st CBAM Report!
As most of us are headed towards the festive holiday season, and close 2023 with a winter break, the situation is slightly complex for firms in the EU who are subject to the mandatory CBAM Reporting, starting in 2024. Wrapping up this year’s tasks, taking the usual year-end break, and starting the new year 2024 with
OECD issues a new package of Administrative Guidance on Global Anti-Base Erosion Model Rules (Pillar 2)
On 18 December 2023, the OECD released the third package of Administrative Guidance. This third package follows the Administrative Guidance released in February and July. This guidance provides welcome clarification to the Pillar 2 rules, which will in many territories, including Belgium, come into force as from financial year 2024, The document addresses issues and
