Draft law implementing the zero-emission company car as the new standard
As indicated in our newsflashes of 21 April 2021 and of 18 May 2021, it was agreed in the government declaration to adapt the tax and social legislation around mobility to stimulate the green agenda. On 14 September the draft law specifying the fiscal and social treatment of company cars was submitted to The Chamber.
Income tax thresholds for gifts to employees have been increased
In our newsletter of 27 November, we recalled the possibility to present employees with year-end gifts, free from social security contributions and income taxes. We mentioned that, although the maximum amount of those gifts for social security purposes was increased in July, the income tax amount was not yet adjusted accordingly. However, on 5 December,
Draft bill – various tax and financial measures
Draft bill – various tax and financial measures Recently, the government approved a draft bill laying down various tax and financial provisions. The proposed measures constitute a part of the budgetary action agreed by the Government and can be summarised as follows: Simplification of the Belgian personal tax system: deductible expenses will become tax reductions.