In our newsflash dated 6 April 2020 we have highlighted that, due to the current COVID-19 crisis and its impact on the Belgian economy, it has been decided that the tax credit related to the advance tax payments for companies will (temporarily) be increased for the third and fourth quarters of assessment year 2021.
Indeed, the Belgian Minister of Finance acknowledged that many companies, but also self-employed persons are already confronted with liquidity problems.
Therefore, the potential personal income tax benefit in relation to advance tax payments that an individual taxpayer makes will (temporarily) be increased from 2% to 2,25% (for advance tax payments made during the third quarter of income year 2020) and from 1,5% to 1,75% (for advance tax payments made during the fourth quarter of income year 2020).
In case of any further questions, please do not hesitate to contact Sandrine Schaumont or Philip Maertens.
