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Latest news & developments

EU Parliament adopts resolution on public CbCR

6 July 2017

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

Catch-all clause: new practice note

4 July 2017

Article 228, §3 BITC has been amended by the Act of 18 December 2016. The amendments brought retroactively enter into force on 1 July 2016. These changes are commented in the practice note of 30 June 2017. In a previous newsflash, we summarised the main changes brought by the recent legislative change. The practice note

Federal government reaches agreement on “Cash for Car”

3 July 2017

Recently, an agreement was reached by the federal government regarding the introduction of a mobility budget, as an alternative for company cars. As of 1 January 2018 it would become possible for employees (who already use a company car) to exchange their current company car for a cash compensation, provided that both parties (employer and

Ruling Office “up and running again”

30 June 2017

On 28 April 2017, the Belgian Council of State annulled the nomination of the French-speaking Board members of the Ruling Office, due to a complaint by a previous Board member (see our newsflash of 8 May 2017). As a result of the judgment, the Ruling Office was not able to take any formal decisions because

Uncertainty over Income Tax Treatments: IFRS

29 June 2017

The IASB recently issued a new Interpretation on Uncertain Tax Treatments (IFRIC 23). In short, it is the IFRS equivalent of the US GAAP Interpretation, ASC 740 (formerly FIN 48). IFRIC 23 was ratified in the IASB meeting on 16-17 May 2017, and issued on 7 June 2017. It will be effective for annual reporting