Latest news & developments
Corporate tax update: Recent circular letter, advance tax payments Q3 opportunity
Considering the exceptional business environment various corporate income tax measures have been taken to sustain the liquidity and solvability position of both resident and non-resident corporate taxpayers. Advance tax payments A recent circular letter of 1 September 2020 confirmed the conditions and increased credit percentages for advance tax payments that can be made in the
Consolidation of Joint Ventures not always required for the 30% EBITDA rule
As from assessment year 2020 (FY starting as from 1 January 2019) a 30% EBITDA rule limits the maximum amount of interest relief, whereby ‘exceeding borrowing costs’ are only tax deductible up to the higher of 30% of the tax-adjusted EBITDA or €3m. This de minimis rule should be calculated at Belgian group level. Based
Brexit update: HMRC urges companies to take action and BE administration publish further guidelines on how to trade as from 1 January 2021
Considering that the UK left the European Union on 31 January 2020 and formally informed the EU that it did not want to invoke its right to request for an extension of the transition period, the transition period which started on 1 February of this year will come to an end on 31 December 2020.
Wage withholding tax incentives: COVID-19 measures and extension of 2019 deadline
Various tax support measures were developed to support entrepreneurs and employees during the COVID-19 crisis. This news flash provides an overview of the most recent measures with an impact on the wage withholding taxes, combined with more news on the extension of the deadline for 2019 wage withholding tax corrections. Royal decree published regarding temporary
Update COVID-19 and cross-border employment: agreement with France extended
We refer to our newsflashes of 28 August 2020 and 31 augustus 2020 and in which we announced the extension of the international agreements regarding a mutual “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions concluded between Belgium and Luxembourg/the Netherlands/Germany until 31 December 2020. As anticipated, a similar extension is
Update COVID-19 and cross-border employment: agreement with Germany extended
We refer to our newsflash of 28 August 2020 in which we announced the extension of the international agreements regarding a mutual “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions concluded between Belgium and Luxembourg/the Netherlands until 31 December 2020. As anticipated, a similar extension is now announced for the agreement
Update COVID-19 and cross-border employment: agreements with the Netherlands and Luxembourg extended
As mentioned in our newsflash of 29 June 2020 all agreements which implement a mutual “force majeure tolerance” for cross-border workers in relation to COVID-19 (travel) restrictions concluded between Belgian and its neighbouring countries (France, Germany, Luxembourg and the Netherlands) were extended until 31 August 2020. As Europe is coloring orange and red it is
Requests COVID-19: homeworking expense allowance
Following the recently published Circular Letter concerning homeworking expense allowance, the Belgian Ruling Office has published a statement on the 19th of August 2020 in this respect. As stated in our newsflash of 17th of July 2020, employers can grant a lump sum allowance for home office expenses to their employees equal to EUR 129,48
