Luxembourg is no longer on the OECD list of 'tax havens'!
Companies must state payments which they carry out directly or indirectly to any person located in 'tax havens' in their corporate income tax return through a separate report form, when these payments exceed the amount of 100,000 euro per taxable period. If it is not declared, the payment is not deductible as a business expense.
Belgian and OECD list
Besides a 'Belgian' list of tax havens, there is also a 'OECD' list. The OECD list contains the countries that do not meet the OECD standard on transparency and exchange of information. Since November 2013 Cyprus, Luxembourg, The Seychelles and the British Virgin Islands have been added on this list. At the last meeting of the Global Forum on 29 and 30 October these countries, however, received the rating 'largely compliant', which made them disappear from the "OECD list 'of tax havens'.
Obligatory declaration expires
The reporting obligation applies to countries that appear on this list throughout the entire tax period. This means that for companies that run their accounting per calendar year, the reporting requirement for payments to persons in these countries expires for the taxable year 2015 (except for the British Virgin Islands since this country also appears on the 'Belgian' list of 'tax havens' ).