Latest news & developments
Belgian draft law amending the investment deduction and innovation income deduction regime
On 29 February 2024, a draft law was submitted covering (amongst others) the investment deduction regime. The proposed changes to the investment deduction included in the preliminary draft law have largely been retained in the draft law submitted by the Belgian government to parliament (see also our newsflash of 14 November 2023). The following items
Exemption of withholding tax for night and shift work, a new measure for variable shifts
On 22 March 2024 (published on 27 March 2024), the Federal government introduced amendments to a draft bill which outline a new transitional measure regarding the withholding tax exemption for night and shift work. This transitional measure, referred to as “variant bis” is in response to the uncertainty that arose after the Constitutional Court opened
Tax Bites Podcast – Pillar 2 latest state of play & a closer look into Belgium’s implementation
In this episode of Tax Bites Podcast, we delve again into the intricate world of Pillar 2, what countries have done so far and we put a spotlight on Belgium’s implementation of the new rules. Join us as we dissect the latest updates and explore the nuances of Belgium’s implementation of this global tax initiative.
New wave of Belgian transfer pricing audits
The Belgian tax authorities have recently initiated a new wave of transfer pricing audits. Many taxpayers have already or will soon receive an in-depth questionnaire requesting bulk taxpayer information in relation to their transfer pricing arrangements. This first request for information on intercompany transactions and the activities carried out by the Belgian company or branch
Belgian draft law amending the law introducing a minimum tax for multinational companies
On 6 March 2024, the Belgian government submitted a draft law to parliament, which is intended to amend the law of 19 December 2023 on the introduction of a minimum tax for multinational companies and large domestic groups. If the draft law is approved, it would be applicable to financial years starting on or after
VAT rate of 6% remains applicable for demolition-reconstruction residential projects for the letting market
In late 2023, the government significantly reduced the ability to apply the reduced VAT rate of 6% to demolition-reconstruction housing projects by limiting the benefit of the reduced rate to projects undertaken by individuals, except when leasing to a social housing agency. This had caused significant concern in the already financially pressured sector. As a
CSDDD Gets the Green Light from the EU Council with Reduced Scope
As sustainability takes center stage in global policy conversations, there has been an increasing change in how businesses approach their social, environmental, and governance responsibilities. With today’s vote in the Committee of Permanent Representatives of the Governments of Member States to the European Union (COREPER), the European Council has de facto given the green light
Advance tax payments: Mind the significant increase of the surcharge
A surcharge is due on the final amount of Belgian corporate income tax payable upon assessment in case a company doesn’t settle its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned. Please be advised that the global surcharge will be increased to 9% for assessment year
