The Belgian Supreme Court ruled that income derived from a received abnormal or gratuitous benefit constitutes a minimum tax base
If an intra-group transaction is considered as “abnormal or gratuitous” – i.e. not being arm’s length –, Belgian tax law prescribes a transfer pricing adjustment. An abnormal or gratuitous benefit received by a Belgian company from an affiliated enterprise cannot be offset against tax losses and other deductible items available to the Belgian company, such
The Belgian Savings Deposits again before the Court of Justice!
After having been sentenced in 2013 for ‘discriminatory’ tax treatment, the since then modified prima facie non-discriminatory legislation comes back before the CJEU, as a ‘restrictive’ measure this time. On a side note, the question arises whether some other Belgian provisions might actually constitute equally applicable measures with restrictive effects infringing some of the EU
Belgium to introduce a new capital gains tax
In the framework of the ‘Tax Shift’ agreement, the Belgian government announced a new speculative tax (or capital gains tax, below ‘CGT’). The bill of law on measures for strengthening job creation and purchasing power dated 10 December 2015 provides further details in this respect. Speculative tax/capital gains tax In a nutshell, here are the
Single resolution fund on schedule for 1 January 2016
The EU’s single resolution mechanism will enter into force, as scheduled, on 1 January 2016. This signals completion of the second pillar of Europe’s banking union. As of 30 November 2015, a sufficient number of member states ratified an intergovernmental agreement (IGA) on the transfer and mutualisation of contributions to a single resolution fund (SRF). This
Brazil: Changes to calculation basis of net equity payments and to withholding tax on interest
Here’s a link to a Tax Newsalert with respect to Brazil Taxation you may find very interesting – link This ITS Newsalert reports on Provisional Measure 694/2015, which changes the calculation basis of, and the withholding tax rates applicable to interest on, net equity payments in Brazil. Should you have any further questions on this topic
Advance tax payments – Percentages for tax year 2016
On 27 February 2015, the Belgian government took a decision on the rates for the advance tax payments for tax year 2016. Considering the low market rates, it was decided that the basic rate to be taken into account for the calculation of the different rates would be 0.5% (instead of the current rate of 0%).
The end of the (financial) year is near: everything under control?
For most companies, December is the last month of their financial year, which makes it the ideal time to reflect whether or not the company is in control of its tax and accounting obligations. Things that cross our mind are, for example: a final possibility to make an advance tax payment in order to avoid
Tax on savings deposits interest: Constitutional Court throws out 15% provision
The Constitutional Court quashed the tax provisions providing for a reduced withholding tax of 15 % on interest arising from Belgian regulated savings deposits exceeding the threshold of EUR 1,250 per annum (read: EUR 1,880 for tax year 2014). As a reminder, below this threshold, interest on Belgian savings deposits is tax exempt. With the
