Tax on conversion of bearer stocks – Infringement of EU Law
On 9 October 2014, the Court of Justice of the European Union (below ‘CJEU’) has rendered its decision in case C-299/13 relating to the compatibility of the Belgian tax on the conversion of bearer securities with EU law, and in particular with Directive 2008/7/EC of 12 February 2008 concerning indirect taxes on the raising of
Notional interest deduction rate for tax year 2016 is 1.630%
The Belgian NID rate for tax year 2016 (accounting years ending between 31 December 2015 and 30 December 2016, both dates included) would be 1.630%. Currently, the NID rate (for tax year 2015) is 2.630%. Hence, the rate would decrease with 1%. For SMEs, the NID rate would be 2.130% for tax year 2016. According
Circular letter on the deductibility of car costs
In a circular letter dated 15 July 2014 (see link below), the Belgian Minister of Finance, Koen Geens, has elaborated on the tax deductibility of the costs relating to cars being put at the disposal of third parties in the hands of whom the corresponding benefit in kind is considered to be taxable. For Belgian
Non-application of NID to foreign permanent establishment and real estate
The Belgian tax authorities have recently issued a practice note with regard to the Belgian notional interest deduction (‘NID’) and the possibility for the taxpayer to file a tax claim or request an ex officio tax relief. Companies subject to Belgian (non-resident) corporate income tax may deduct a notional interest reflecting the economic cost of
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.
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
