Executive pay landscape: Implementation of the Revised Shareholders’ Rights Directive (SRD II) into Belgian law for Belgian quoted companies
On May 6th, the Official Gazette has published the law on implementing the SRD II – Directive (EU) 2017/828. Part of the Directive will be implemented by changing the newly introduced Belgian Code on Companies and Associations (BCCA). The aim of SRD II is to positively influence the involvement of long-term shareholders and increase transparency
COVID-19 and cross-border employment: is Belgium heading for a “force majeure” approach with its neighbouring countries?
In our newsflash of 15 April 2020, we were pleased to inform you that the Netherlands and Germany came to a mutual agreement regarding a “force majeure” tolerance for cross-border employment situations that are impacted by the coronavirus (COVID-19) pandemic. The Dutch-German agreement certainly embodies the recent OECD recommendations of 3 April 2020 (see our
COVID-19 #12 Corporate simplification: transitioning into a cost-efficient, substance-based and sustainable corporate structure
The current economic context highlights the need for multinational groups to realise savings, optimise cash movements within the group, rationalise management structures and/or reorganise their supply chain. Globalisation and also single sourcing of products (often only from China) made companies vulnerable for a disruption of their supply chain as has happened with many by this
New measures for open-ended public undertakings for collective investment against the consequences of the COVID-19 epidemic
Summary The Royal Decree of 22 April 2020 aims to protect open-ended public undertakings for collective investment (“UCIs”) against the consequences of the COVID-19 epidemic and in particular protect the liquidity of such UCIs. UCIs that are confronted with redemption requests of their units have to sell, often at unfavourable prices, positions in their portfolios
COVID-19 #11 Group contribution for companies in temporary financial distress
As the effects of the current crisis reverberate throughout the global economy, it is obvious that not every business or geography has been hit equally. The same holds true for companies within a group – and even for business units within a company. Absent a tax loss carry-back system in Belgian tax law (except for
Corona Premium of EUR 1.000 down the drain?
A couple of weeks ago, in full corona crisis, there was some media coverage regarding the introduction of tax-free corona premiums. In our newsflash of 1 April 2020, we mentioned the proposal of the Belgian Minister of Finance of a Corona premium of EUR 1.000. Employers would be able to pay this premium free of
COVID-19 #10 Cash tax forecasting
The current pandemic not only puts great pressure on our healthcare system, it is also paralysing the economy. As businesses are suffering, cash flow management has become a top priority in many organisations. In this respect, cash tax forecasting can support groups in optimising their available cash. Item #10: Cash tax forecasting At macroeconomic level,
Impact of COVID-19 on your globally mobile employees
Currently, most companies have employees who are business travelers or who work (and live) in a different country due to assignments, intracompany moves, projects, etc. The continued spread of the Coronavirus (COVID-19) confronts the Global Mobility function of organisations with multiple complexities of managing these employees. As safety and welfare of employees is the top
