Latest news & developments
VAT rate of 6% remains applicable for demolition-reconstruction residential projects for the letting market
In late 2023, the government significantly reduced the ability to apply the reduced VAT rate of 6% to demolition-reconstruction housing projects by limiting the benefit of the reduced rate to projects undertaken by individuals, except when leasing to a social housing agency. This had caused significant concern in the already financially pressured sector. As a
CSDDD Gets the Green Light from the EU Council with Reduced Scope
As sustainability takes center stage in global policy conversations, there has been an increasing change in how businesses approach their social, environmental, and governance responsibilities. With today’s vote in the Committee of Permanent Representatives of the Governments of Member States to the European Union (COREPER), the European Council has de facto given the green light
Advance tax payments: Mind the significant increase of the surcharge
A surcharge is due on the final amount of Belgian corporate income tax payable upon assessment in case a company doesn’t settle its Belgian corporate income taxes due by means of timely advance tax payments during the financial year concerned. Please be advised that the global surcharge will be increased to 9% for assessment year
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
