The bill introducing an annual tax on securities accounts also plans to introduce new specific and general anti-abuse rules applicable to all the indirect taxes ruled by the Code of Various Duties and Taxes. As regards the tax on securities accounts, these anti-abuse rules would retroactively apply as from 30th October 2020 so as to
In a decision dated 29 November 2018, the Court of Appeal of Brussels concluded that the Double Tax Treaty concluded between Belgium and Luxembourg (hereinafter the ‘DTT’) prevents the application of the Belgian Net Asset Tax (hereinafter the ‘NAT’) to a Luxembourg SICAV. As it confirms that a Luxembourg SICAV falls within the personal scope
Update – As announced in our Newsflash of 27 June 2017, the Belgian annual tax on undertakings for collective investment (the Belgian ‘Net Asset Tax’ or ‘NAT’) would be adapted with the following measures: Introduction of a reduced tax rate of 0.01% on institutional share classes of foreign undertakings for collective investment (provided the units
On 26 July 2017, the Belgian federal government reached an agreement on an important corporate tax reform. The contemplated changes go far beyond corporate tax as they also have a direct impact on the taxation of financial products, hence on the FS industry in general. Wealth Management Belgian Tax on Savings Income (art. 19bis ITC)
A recent bill of law on various financial and tax provisions aims at adapting the Belgian annual tax on undertakings for collective investment (the Belgian ‘Net Asset Tax’ or ‘NAT’), in particular at the level of the tax rate applicable to foreign institutional funds. As a reminder, the Belgian NAT standard rate is currently 0.0925%.
The Court of Justice of the European Union (CJEU) ruled on 26 May 2016 that the Belgian Net Asset Tax (NAT) as applicable to foreign investment funds, is compatible with EU law. The CJEU’s decision in Case 48/15 (SPF Finances v. ING International SA) is rendered in the framework of a request for a preliminary
According to the Advocate General’s opinion issued on 21 January 2016, the Belgian Net Asset Tax applied to foreign investment funds is compatible with European law. The Court of Justice of the European Union (CJEU) was requested, by the Court of Appeal of Brussels, to grant a preliminary ruling on the compatibility, with European