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
New Royal Decree published on legal constructions outside EEA falling in the scope of the Cayman Tax
Cayman Tax The so-called ‘Cayman Tax’, introduced as from 1 January 2015, is a taxation regime in the Belgian income tax code that introduces a tax transparency of certain legal constructions that have been set up by Belgian private individual tax residents. The income of certain qualifying entities will be taxed directly in the hands
New Royal Decree published on legal constructions in EEA falling in the scope of the Cayman Tax
Cayman Tax The so-called ‘Cayman Tax’, introduced as from 1 January 2015, is a taxation regime in the Belgian income tax code that introduces a tax transparency of certain legal constructions that have been set up by Belgian private individual tax residents. The income of certain qualifying entities will be taxed directly in the hands
Belgian tax reform: impact on the FS industry
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)
Cayman Tax: applicable to privately managed funds
Yesterday, the Finance Minister clarified the scope of the Cayman tax with respect to funds. According to the Minister, the tax covers private, institutional and public funds, which are de facto privately managed. Besides, should it prove necessary to legislate further, that would be done quickly and efficiently, according to the Minister. The Cayman Tax
Cayman tax enacted – List of legal entities published
With the Program Law of 10 August 2015, the so-called “Cayman tax” has been implemented. Under this regime, certain legal constructions are treated as transparent for Belgian tax purposes, implying that income generated by them is taxable or their founders or beneficiaries. The Cayman tax is in principle applicable to income that is obtained, attributed or paid
