Recent news items
Take care if you are offering goods or services through an online platform
From 1 January 2023, the Belgian tax authorities will be paying closer attention to anyone providing goods or services (such as apartment rentals or meal deliveries) through online platforms. This is due to the adoption of the European DAC7 directive, which stipulates automatic exchange of information for all digital platform operators.
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Tax authorities are tracking down income paid to directors for international roles
As a director of a foreign company, your mandate may include two separate functions, for which you receive two salaries. Specifically, you could be a member of the Board of Directors and at the same time have responsibility for day-to-day management. In today’s expanding “global village”, where international roles are increasingly common, it can be a challenge to identify exactly what income should be taxed where. Perhaps just in the foreign country? A nice idea, but sadly too simple...
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Common Reporting Standards (CRS) offer tax authorities insight into your foreign capital
If you have foreign assets, you had better be sure to file an accurate Belgian tax return. Thanks to the international exchange of financial account information introduced in 2017, the tax authorities have direct access to financial data regarding your foreign capital.
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Foreign real estate also subject to CI
We already knew there was an important change in the works for Belgians with properties abroad. Recently, the Chamber approved the legislative proposal to make that change. What does this mean in practical terms for Belgians with foreign properties?
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Tax reduction for landlords
Mandatory closure of many enterprises is having serious financial impacts. Entrepreneurs who rent premises are having to dig into their reserves to bridge this period. Some landlords have responded to this situation by waiving part of their rent.
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Additional support measures for the COVID-19 pandemic
On Friday 12 February 2021, the Inner Cabinet agreed to extend a comprehensive package of support measures until the end of June 2021. The Inner Cabinet also announced a number of additional support measures.
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The Main Measures of the French Finance Act and the Social Security Financing Act in Focus
As always at the beginning of a new year, the Finance Act and the Social Security Financing Act (Loi de Finances et la Loi de Financement de la Sécurité Sociale) include a great number of new features for companies in France. Doing business in France? Are you planning to set up a business in France?
Then you might be interested in these new provisions. An overview of the important measures for the coming year...
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Investing in France now fiscally advantageous!
Dividends distributed to Belgian residents by French companies are subject to taxation in both France and Belgium. Recent developments have served to eliminate this double taxation. As a result, investing in French shares is now actually more advantageous than investing in Belgian shares!
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Transitional rules for patent income deductions cease from 30 June 2021
The new ruling regarding innovation income deductions has been in effect since 1 July 2016. This is intended to replace the previous patent income deduction scheme. The transitional rules allow companies to make use of the patent income deduction through 30 June 2021.
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Apply now for the next part of the New Flemish Protection Mechanism
The Flemish Protection Mechanism (Nieuw Vlaams Beschermingsmechanisme), the VLAIO premium for entrepreneurs who experienced loss of turnover in the months of August and September 2020, was followed by the first part of the New Flemish Protection Mechanism, for entrepreneurs with significant loss of turnover and hospitality businesses subject to mandatory closure. From 4 January 2021, you can also apply for the next part of the Flemish Protection Mechanism. This part concerns the period from 15 November through 31 December 2020.
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Brexit: organise your future employment now
On 1 January 2021, Brexit will bring the free movement of people between the EU and the United Kingdom to an end. From this date, Belgians moving to the UK or UK citizens moving to Belgium will be treated as third-country nationals. What does this mean for European nationals who are currently working in the UK, or British workers in our country? What are the specific requirements for employment in another country? We found out for you.
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NSSO launches compensation for social security contributions
The government has created a compensation scheme for social security contributions over the third quarter as additional support for employers in heavily affected sectors and sectors forced to close due to the coronavirus crisis. The compensation will be equivalent to the basic employer’s contributions and portion of the student solidarity contribution owed by the employer. To help with this measure, the NSSO also recently set up the online ‘NSSO compensation check’ service.
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Impact of expanded definition of permanent establishment on foreign companies
Since 2020, the definition of ‘permanent establishment’ has expanded in scope. Due to the concept’s expansion under both the Belgian definition and the definition in the double taxation treaty, permanent establishment is now more easily achieved. The impact on foreign corporations can be significant.
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Brexit: no EU refund for British VAT from 1 January 2021
In recent years, people who conducted business with the United Kingdom could use the European VAT-Refund application to claim back any VAT paid in the UK. This is yet another arrangement that will be impacted by Brexit. What does this mean in practice for enterprises wishing to claim a VAT refund from the UK?
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