End of the “old” special tax regime for expatriates: key changes starting January 2024
As of January 2024, the special tax regime applicable to certain expatriates in Belgium under the administrative tolerance (i.e. Circulaire n°Ci.RH.624/325.294 dd august 08.1983) has come to an end. If you are an expatriate who was in scope of the ‘old’ special tax regime until the end of December 2023, it is crucial to understand
Belgian government agrees on federal budget: an overview of what you should know
After intense negotiations, the Belgian government reached an agreement on the Belgian federal budget. Addressing the ongoing energy crisis, limiting the budgetary deficit and stimulating employment are some of the key topics that have shaped the agreement. It also contains several important tax measures an overview below: Temporary Belgian minimum tax: as a result of
Withholding tax incentives: time to take action – deadline extended to 1 October 2021
Various tax incentives (e.g. for overtime, R&D, night and shift work, etc.) take the form of an exemption of transferring wage withholding taxes. These tax incentives are thus to be processed through payroll. Extension of deadline for 2020 wage withholding tax returns Although the wage withholding tax returns for 2020 are already submitted during the
Company cars: the list of false hybrids has been updated
Over the past few years, the taxation of cars has been linked more and more to their ecological footprint, and more specifically, their CO2-emission. This is not different for hybrid cars. A few months after the previous update, the list of corresponding vehicles for “fake hybrids” has been updated again earlier this week. You can
New lump-sum amount for reimbursement of business use of private car
Employees using a privately-owned car for business purposes can now be reimbursed a lump-sum amount of EUR 0,3542 per kilometer. Costs that an employee incurs when using a privately-owned car for business purposes can be reimbursed by the employer free of income tax and exempt from social security contributions. Repayment can be made on a
COVID-19 #15 Management Participation Schemes under water
The fact that Governments are gradually defining their exit strategy, does unfortunately not imply that managers are already seeing the exit horizon they were hoping for when they invested in the group. As we may have left the path of a buoyant M&A market, a lot of managers may be in dire straits as their
Benefit in kind – Private use of a company car: updated formula for 2020
The new reference CO2 emission for calculating the taxable benefit in kind for the private use of a company car in the hands of company directors and employees has been published on 11 December 2019 (Royal Decree of 3 December 2019). For income year 2020, the following CO2 emission will be applied to the above
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,