Belgian tax on securities accounts: Belgian insurers are on the offensive
On 16 August 2021, Assuralia, the Belgian professional union of insurance undertakings introduced an action for partial annulment of article 4 of the law of 17 February 2021 (Official Journal of 25 February 2021) introducing an annual Tax on Securities Accounts (TSA) in the Belgian Code of Various Duties and Taxes (CVDT). The role number
Ruling of the Constitutional Court regarding the Cayman Tax applicable to legal constructions without legal personality
On the 28th of January, the Belgian Constitutional Court ruled in favour of an annulment of a modification of article 18, 3° BITC by the Program Law of 25 December 2017 which, in the context of the Cayman Tax, had aligned the tax regime of distributions made by the legal constructions without legal personality (“type
Constitutional Court rules on application of conventional notice periods concluded before 1 January 2014
In a recent judgement, the Constitutional Court ruled that – when calculating the notice period for higher earning white collar workers who entered into service before 1 January 2014 – validly concluded agreements on the notice period that existed on 31 December 2013 should be taken into account when executing part 1 of the 2-step
Belgian Tax on Securities Accounts: a Practice Note provides further guidance
The Belgian tax administration has issued on 25 May 2018 a (welcomed) Practice Note providing further guidance regarding the Belgian Tax on Securities Accounts (BTSA). For recall, the BTSA applies to (foreign) individuals holding one or several (Belgian) securities accounts which totalized (on average) more than 500.000 euros during the reference period. In such a
Belgian Tax on Stock-Exchange Transactions: Action for Annulment before the Constitutional Court
Last week, the Belgian financial press referred to an upcoming action for annulment of the Program Act of 25 December 2016 providing for enlarging the scope of the Belgian tax on stock exchange transactions to transactions carried out through foreign financial intermediaries (see among others L’Echo and De Tijd of 20 June 2017). As per
Belgian Fairness Tax: Status Quaestionis (update)
As a recall, by request sent to the Constitutional Court, a Belgian taxpayer company has filed in January 2014 an action for annulment of the so-called Belgian ‘Fairness Tax’. This action comprises four different causes of action each of them including different headings or arguments: European law: freedom of establishment and Parent-Subsidiary Directive; Constitutional law:
Former prohibition of exemption of withholding tax on dividends distributed by Belgian Regulated Real Estate Companies annulled by Constitutional Court
On 11 May 2016, the Belgian Constitutional Court annulled the former prohibition of exemption of withholding tax on dividends distributed by Belgian Regulated Real Estate Companies (RRECs) on the ground that it was discriminatory compared to dividends paid by Belgian Real Estate Investment Funds (REIFs). The Act of 12 May 2014, applicable as from 16
Constitutional Court annuls the tax on conversion of bearer securities
On 5 February 2015, the Belgian Constitutional Court rendered a judgement that annuls tax on the conversion of bearer securities, due to its incompatibility with EU law, in particular with Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of capital. This judgment follows a decision rendered in case C299/13 in which the
