Latest news & developments
Holding companies – VAT deduction methodology – Reporting obligations
Introduction By the end of June 2023, companies applying the real use VAT deduction method (cost allocation) for mixed taxable persons had to notify it to the Belgian VAT authorities. Now these companies also have to communicate a whole set of information to back-up this VAT deduction methodology. For VAT taxable persons that already applied
It’s a wrap! CBAM Roundtables at our PwC Liege, Antwerp and Brussels Campuses on the topic of ‘CBAM: Transitional period – Lessons learnt from the first reporting’.
The events were attended by our clients and companies in scope of CBAM, the industry’s federation members, the officials from the Belgian Customs Authority as well as the members from the National Competent Authority for CBAM in Belgium, the FPS Public Health. We thank all the participants for their valuable insights and sharing their experiences
Stock options granted by a Personal Service Company to its company director – not always tax deductible for the company
In a judgement of 5 December 2023, the Court of appeal of Antwerp ruled on a case regarding the deductibility of costs of stock options and upholds the lower court’s decision, confirming that remunerations (stock options income in this case) may not always be treated as deductible expenses. The dispute in this case revolves around
OECD Published Guidance on Amount B
On 19 February 2024, the OECD published a report which aims to simplify and streamline the application of the arm’s length principle to in-country baseline marketing and distribution activities (the Report) (also known as Amount B under Pillar One). The first draft guidance and call for input dates back from late 2020. Quite some time
New Circular letter on the calculation of the Federal Mobility Budget: pitfalls remain
At the end of September last year, the Belgian government published a Royal Decree to clarify the calculation of the budget for the Federal Mobility Budget and introduce a lump sum calculation method as well. These formulas are to be used both to calculate the available budget as well as the cost to be charged
Net Zero Industrial Act and the Strategic Technologies for Europe Platform: Forging a Synergy for the European Industry of the Future
During last week’s trilogue negotiations, the EU Commission, the EU Parliament, and the EU Council reached a provisional agreement on the Net Zero Industrial Act (NZIA). This Regulation will form the backbone of the EU’s strategy to boost domestic green tech production, known as the Green Deal Industrial Plan. This initiative responds to the global
Wage withholding tax exemption – Constitutional court has introduced a strict interpretation of the application requirements for the wage withholding tax exemption for shift work
Executive Summary In a request for preliminary ruling, the Belgian Constitutional Court was asked to rule on the discriminatory character (or not) of one of the conditions to apply the withholding tax exemption for night and shift work. Said condition requires that the shifts perform the same work in terms of content and magnitude of
Harmonising Carbon Pricing in the CBAM Era: EU-Switzerland ETS Linkage
Recent developments in the Agreement between the EU and Switzerland on linking their Emission Trading Systems reflect an ongoing commitment inside the European Union to aligning carbon pricing strategies across borders, that is now expected to accelerate following the adoption and implementation of the Carbon Border Adjustment Mechanism (CBAM). The EU Carbon Pricing Strategy The
