Latest news & developments
Filing of your statutory financial statements – due date of 31 July 2019 is approaching!
Statutory financial statements As you are probably aware, Belgian companies should deposit their statutory financial statements annually with the National Bank of Belgium. Filing should be done within 30 days after the financial statements have been approved by the Annual General Meeting of Shareholders and certainly not later than 7 months after the end of
Gentlemen’s agreement Belgium-Luxembourg: a new chapter for cross-border workers
On 16 May 2019 the Luxembourg Prime Minister Xavier Bettel and the Belgian Prime Minister Charles Michel have agreed to reopen negotiations regarding the double tax treaty concluded between Belgium and Luxembourg, with respect to the taxation of individuals working in a cross-border context. Belgian-Luxembourg double tax treaty In principle, employees who are tax resident
Limitation of tax losses in case of partial demerger
A partial demerger is a transaction whereby part of the assets and liabilities of the partially demerged company are transferred to another (acquiring) company, which (in principle) issues shares to the parent company of the partially demerged company. In case of a tax-neutral partial demerger, the carried forward tax losses of the partially demerged company
Brexit update – EU Commission encourage stakeholders to prepare for a no-deal
The European Commission issued further guidance earlier this week on a no-deal Brexit. Although the European Commission sees an increase in the EORI registrations as well as in the AEO certifications, it strongly encourage the stakeholders to prepare for a no-deal and to take advantage of the extension till 31 October 2019. The European Commission
Fundamental changes to international tax structure ahead following OECD project on digitalisation of the economy
On 31 May 2019, the 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released a Programme of Work to develop a consensus solution to the tax challenges arising from the digitalisation of the economy. The Programme of Work was endorsed at the G20 meeting of finance ministers in Japan
Newshub: Belgian Tax Authorities announce some of their focus areas for 2019 tax audits
The Belgian Tax Authorities have recently announced some of their focus areas for 2019 for tax audits. This early warning allows both individual taxpayers and enterprises to ensure compliance with their Belgian tax obligations. Enterprises can expect to face more scrutiny in relation to the following subjects: Companies who do not fulfill all the conditions
Brexit update – Mrs. May took on the first Brexit Battle and lost. Who is next and what does this mean for business?
UK Prime Minister Theresa May formally quits as leader of the Conservative Party today. On 24 May 2019, Theresa May announced that she would resign as the Conservative Party leader today, on June 7. In her emotional speech, Mrs. May acknowledged that she had failed after her Brexit deal – the Draft Withdrawal Agreement with
Taxation of severance pay – reference year: 12 months of taxable ‘professional income’
Severance pay From a Belgian income tax point of view, all payments made by a company as a result of the discontinuation of the work or the termination of an employment contract of an employee are characterized as “severance pay”. In principle, such payments are taxed in accordance with the regime of article 171, 5°,
