Latest news & developments
The OECD publishes its guidance on the transfer pricing implications of the COVID-19 pandemic
During the outbreak and spreading of the COVID-19 pandemic, many businesses faced or are facing significant cash flow constraints, disruption to their supply chains, or even forced (temporary) closing for business. The long-awaited OECD guidance on the transfer pricing implications of the COVID-19 pandemic was finally published on 18 December 2020. A plea for practical
Benefit in kind – Private use of a company car: updated formula for 2021
The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been communicated on 15 December 2020 (a Royal Decree will follow as soon as possible). For income year 2021, the following CO2 emission will be applied
Upcoming due date for electronic filing of BEPS 13 related documents: 31 December 2020
Transfer pricing documentation requirements have become an integral part of the compliance obligations of Belgian entities and branches. The criteria, formalities and deadlines should therefore be followed up closely. Please find below a short summary of the obligations to be complied with by 31 December 2020. What? A Belgian entity or Belgian branch part of a
Update COVID-19 and cross-border employment: agreement with Luxembourg extended
In our newsflash of 28 August 2020 we announced the extension of the mutual agreement between Belgium and Luxembourg, which includes a “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions.
Update COVID-19 and cross-border employment: agreement with the Netherlands extended
In our newsflash of 28 August 2020 we announced the extension of the mutual agreement between Belgium and the Netherlands, which includes a “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions. The number of officially registered COVID-19 infections in Europe is still significant. Home working has become the new normal and
Update COVID-19 and cross-border employment: agreement with France extended
We refer to our newsflash of 1 September 2020 in which we announced the extension until 31 December 2020 of the mutual agreement between Belgium and France, which includes a “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions. Currently, most European countries (including Belgium and France) are trying to overcome “the
Cadastral income for properties abroad?
On 12 November 2020 the European Court of Justice (ECJ) imposed a lump-sum fine of EUR 2 million and a daily penalty of EUR 7.500 for each day that the Belgian tax authorities continue to maintain a difference in tax treatment for rental income depending on whether the property is located in Belgium or abroad.
Update – American Belgians risk losing their Belgian bank account
As stated in our newsflash of 23 August 2019, Belgians with the American nationality risk losing their Belgian bank accounts because of the strict application of the U.S. FATCA-legislation. In reply to a recent parliamentary question, the Minister of Finance provided further input on this matter going forward. Accidental Americans In application of the Foreign
