The Belgian Minister of Finance proposes long awaited tax reform.
Finance Minister Vincent Van Peteghem launched his proposal for a first phase in the Belgian tax reform. This proposal was already announced several months ago and is now being put formally on the table. What we are looking at today is still a proposal that will now go into the legislative process. The aim is
Possible important amendments to the stock option legislation and the introduction of a specific tax regime for free shares
A government proposal regarding new legislation with respect to stock options and stock plans was announced in the Belgian press last week. Below you can find a short overview of the proposed changes with some initial high-level reflections. It is however important to note that no texts are currently available and that it is currently
High net worth individuals on the radar of Vivaldi!
One of the measures announced by the newly formed government (“the Vivaldi coalition”) is the taxation of the major financial transactions (“MFTT”). Although only the main principles of this tax are known at this stage, the purpose would be to tax high net worth individuals. The impact of the tax is estimated between 150 to
Minimum director fee: penalty of 5% removed from Income Tax Code
The Corporate Income Tax Reform Act had introduced a distinct taxation of 5% due by each company (large or small) that does not grant a minimum director fee of EUR 45,000 (EUR 75,000 for a group of affiliated companies). The tax was due on the difference between the highest compensation actually paid and the required
The Belgian Ruling Office has granted a decision on the new CFC regime
Last week, the Belgian Ruling Office granted an advanced tax decision (not published yet) recognising the non-application of the upcoming Belgian CFC (‘Controlled Foreign Company’) law for two foreign companies owned by a Belgian parent company. Salient points of this decision This advance tax decision covering the inapplicability of the CFC regime is of particular
Belgium’s corporate tax reform becomes reality
Today the Federal government has published a press release regarding the agreement on the concrete implementation of the important corporate tax reform announced earlier in July 2017. The Act has been sent to the Council of State for advice and is expected to be voted by Parliament in the course of December 2017. The great achievement of this
Belgian Tax reform: Individuals – Reduction of tax benefits
In the scope of the agreement reached during the summer, the federal government announced several new tax measures. From a personal tax point of view, one of the changes foreseen is to reduce the tax benefits granted to people for whom the taxable period does not correspond to a full calendar year. In such case,
Belgian tax reform: Personal income tax – profit participation premium
Remark: the following announced measure will have to be formalised in draft legislation which should only be available as from September/October. Only then will full details be known. As already mentioned in the PwC Newsflash of 4 August, the federal government reached an agreement on 26 July 2017 on important tax, economic and social reform