While finalizing the statutory financial statements, let’s also kick-off with the preparation of the corporate income tax return and the local form – general due date of 26 September 2019!
Belgian companies (and non-resident companies with a Belgian establishment) have the yearly obligation to file a Belgian corporate income tax return within the statutory deadline.
In principle, Belgian companies (and foreign companies with a Belgian establishment) with a financial year that ended 31 December 2018 should file their tax return by the last day of the month following that of the statutory general meeting, without falling more than six months after the end of the financial year (i.e. 30 June 2019). In line with previous years, the tax administration foresees in a general extension to 26 September 2019 for companies and branches with a financial year that ended 31 December 2018.
Individual delays can be requested directly to the Belgian tax authorities. Practice however shows that such individual delays are only granted very rarely and only in case of exceptional occasions (i.e. extraordinary events behind the force of anyone, i.e. ‘force majeure’).
The transfer pricing local form ‘275 LF” should be filed within the same due date by Belgian companies and branches that are part of an international group for which, in the financial year preceding the financial year most recently closed, at least one of the following criteria was exceeded [on the basis of the annual accounts of the company (i.e. not on a consolidated level)]:
- operating and financial income, excluding non-recurring income, in the sum of EUR 50 million;
- a balance sheet total of EUR 1 billion;
- an annual average headcount of 100 full-time equivalent employees.
If you want to avoid last minute stress – taking into account the summer holidays and given the complexity of the completion of the local form – we propose no longer wait until the last months or days before the due date to prepare the corporate income tax return and/or the local form! Therefore, upon finalisation of the statutory financial statements, there is no need to wait with the preparation of both deliverables.
If you would like our assistance with the preparation and/or the review of one or both deliverables and the statutory financial statements are already final, you can already contact our PwC tax experts to have a kick-off call or meeting. Our PwC tax experts are glad to assist you with regard to the above and to answer your questions. Do not hesitate to contact your engagement team in case of any further questions.
We also take the opportunity to remind you that the fee forms 281.50 relating to calendar year 2018, should be filed on 27 June 2019 at the latest.