New bilateral social security agreement between Belgium and Brazil
A social security agreement between Belgium and Brazil enters into force on 1 December 2014. This agreement enables companies to second employees to the other country while keeping them subject to the home social security scheme and guarantees equal treatment for workers living or working in the other country. This social security agreement – which
Telework: The National Social Security Office brings its position into line with the tax authorities
In the Practice Note of 16 January 2014, the Belgian tax authorities announced that a monthly tax-free lump-sum of EUR 20 as a compensation for the business use of a privately owned computer and internet connection (i.e. a total of EUR 40 per month) could be granted under certain conditions. Where for a while a doubt
Publication of model tax returns for assessment year 2014
Model tax returns for assessment year 2014 now available In the Belgian Official Gazette of 2 May 2014, the model tax returns for assessment year 2014 for resident companies, for resident legal entities and for non-residents(companies and legal entities) have been published.
Belgium and the US sign FATCA Intergovernmental Agreement
On 23 April 2014, Minister of Finance, Koen Geens and US Ambassador, Mark Storella signed the long awaited bilateral Intergovernmental Agreement (IGA) intended to implement the Foreign Account Tax Compliance Act (FATCA). The IGA will provide needed clarity around the implementation of FATCA for the Financial Institutions (FIs) resident in Belgium and those with branches
Reporting obligation foreign bank accounts extended
Last week the Belgian parliament voted an amendment to the Belgian Income Tax Code with respect to the reporting obligation of foreign bank accounts by Belgian individuals at the central contact point (“centraal aanspreekpunt” in Dutch/”point de contact central” in French) of the Belgian National Bank. As from the first of November 2014 the Belgian
Investment deduction percentages for assessment year 2015 published
On 26 March 2014, the new percentages for investment deduction, applicable to assessment year 2015 (income year 2014), were published in the Belgian Official Gazette. Generally speaking, to the extent specific legal conditions are met, Belgian companies or Belgian branches of foreign companies can deduct above the normal amortisation rules an extra percentage of the
Belgian tax authorities can copy and seize computerised information of taxpayers
The Belgian tax authorities have a broad view on their investigation powers as regards to computerised information. Recent case law seems to approve this broad view. After the tug-of-war between the Belgian taxpayers and the Belgian tax authorities regarding the competences of the latter to investigate, copy and seize computerised (digital) information, it seems that
Mandatory e-filing of income tax returns
Since assessment year 2005, Belgian corporate entities have the possibility to file their corporate income tax return electronically.
