Latest news & developments
R&D wage withholding tax exemption – Practical implications of the stringent implementation by tax authorities partly clarified. Your action required by August 1st, 2023
Executive summary: The new position of the Belgian tax authorities regarding the notification of R&D programs and projects to Belspo is requiring a more proactive and detailed reporting As a result, the existing Belspo procedure of annual updates is temporarily abandoned in favor of multi-year applications including relevant R&D information Applicants are advised to update
Carried interest structured via stock option plan – no taxation as professional income at exercise of the option as per Belgian Court
A Belgian Court annulled the tax assessment levied by the Belgian tax authorities regarding carried interest income structured via the means of an option plan. The Belgian tax authorities claimed the setup was fraudulent and simulated and therefore the income gained at exercise of the options should be taxable as employment income. On 27 February
The EU Deforestation Regulation – it’s official! A Paradigm Shift for Sustainable Procurement and the Customs Organization
Global forests, as carbon sinks, play an important role in mitigating climate change by absorbing and storing greenhouse gases. The EU is a major consumer and trader of commodities that play an important role on deforestation and forest degradation, risking also their ecosystems worldwidely. To address these matters the EU has now taken a significant
New tax treaty signed between Belgium and the Netherlands
A new tax treaty was signed between Belgium and the Netherlands. This new treaty is now published and will go through the normal ratification process. The treaty includes a number of important changes for all taxpayers with cross border activities between Belgium and the Netherlands. According to the press release of the Minister of Finance,
Proposal published for a European Union Customs Reform: A new central EU Customs authority with a data-driven vision for a simpler, smarter and safer Customs Union
Today, 17 May 2023, the European Commission published its long awaited proposals for a complete overhaul of the European Union customs environment. As they write in their press release, it is the most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968. With these proposals the European Commission would like
The Carbon Border Adjustment Mechanism – It’s official!
Today, the CBAM (Carbon Border Adjustment Mechanism) was published in the Official Journal of the European Union. This means that there is no going back and that the regulation will enter into force as of tomorrow, 17 May 2023 and that it shall apply as from 1 October 2023. Read more on CBAM in our
Filed your transfer pricing documentation in due time?
The Belgian Tax Administration (BTA) continues to send out letters to eligible taxpayers for missing/late filing of the mandatory transfer pricing documentation, as the case may be: The country-by-country report (art. 321/2 BITC), The country-by-country report notification (art. 321/3 BITC) The master file (art 321/4 BITC), The local file (art 321/5 BITC). For the first
R&D Wage withholding tax exemption – Strict interpretation of start dates confirmed in case law leading to altered interpretation of fiscal authorities
The tax audits with respect to the application of the partial withholding tax exemption for research and development with respect to income year 2021 are ongoing. With recent case law on the subject, two critical elements should be considered during these types of audit. Upfront notification with Belspo Recent case law of the Belgian Court
