Latest news & developments
ICS2 – Coming new EU customs pre-arrival security and safety program
The European Union will launch a new EU customs pre-arrival security and safety program which will be handled via the so-called Import Control System 2 (ICS2), a large-scale information system. The new program is essential for managing entry security and safety border controls. The program will help to establish an integrated EU approach to reinforce
UK has published its future import tariffs
During the current Brexit transition period, goods can still be shipped tariff free and without import and export formalities from the EU mainland to the UK and vice versa. After the transition period, scheduled for 1 January 2021, EU – UK trade will be subject to import and export formalities and the UK will set
Core agreement on supporting measures for the purchasing power and the sectors in difficulty
With the government measures taken to combat the COVID-19 virus being reduced gradually, the current health crisis seems to be getting under control for now (pending an anticipated second wave). However, the social and economic impact of the crisis will continue to exist for a long time, further affecting individuals and companies. The past three
DAC 6 reporting deadlines deferred with 6 months
Due to the COVID-19 pandemic and by way of administrative tolerance, the Belgian government has granted a 6-month delay to fulfil the first reporting obligations under the DAC 6 legislation. The decision follows a European proposal for an amending council directive in this respect. In short, DAC 6 provides for the obligation to report certain
Company cars: the list of false hybrids has been updated
Over the past few years, the taxation of cars has been linked more and more to their ecological footprint, and more specifically, their CO2-emission. The taxable benefit in kind, the deductibility rate, registration taxes, … all of these depend on the CO2-emission of the car. Especially for the so-called ‘fake hybrides’, there has been quite
Update COVID-19 and cross-border employment: agreements with Germany and the Netherlands extended
As announced in our previous newsflashes, Belgium has concluded several agreements with almost all of our neighboring countries (i.e. Germany, the Netherlands, France and Luxembourg). These agreements implement a mutual force majeure tolerance for cross-border employees in relation to the COVID-19 (travel) restrictions. Based on the specific Belgian-German agreement of 6 May 2020, if certain
Update – Fast Track Ruling – Homeworking (Expense Allowance)
We refer to our newsflash of 19 March on the implementation of the Fast Track Ruling (Fast Track Ruling – Homeworking, Expense Allowance). On 29 May, the Rulings Office (Dienst Voorafgaande Beslissingen in Fiscale Zaken/Services des Décisions anticipées en Matières Fiscales) published on its website a new COVID-19 application model document that has been slightly adjusted
The impact of COVID-19 on routine profits
Evidencing downward adjustments for limited risk entities commands more than a quick browse through high-level macroeconomic trends. As many companies consider to adjust their transfer pricing (TP) policies as a result of the current economic situation, we’ve performed a robust macroeconomic analysis linked to some 180,000 company data points. The approach is rooted in work
