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News 16th of July 2020 By Alexia De Poorter and Dries Torreele

Chamber approves temporary partial withholding tax exemption

Chamber approves temporary partial withholding tax exemption

What does this exemption involve?

Example: Withholding taxes amount to EUR 20,000 in May and EUR 30,000 in June. In this case the applicable exemption for June is (30,000 – 20,000) / 2 = EUR 5,000.

What are the requirements to apply this exemption?

  • +You must have made use of the temporary unemployment scheme for at least 30 consecutive calendar days between 12 March and 31 May.
  • +The exemption is not applicable in the event that any dividend payments, capital reduction, purchase of own shares or other reduction or distribution of equity capital took place in the period from 12 March to 31 December.
  • +The exemption is not applicable if your business has a participating interest in or has made certain payments to companies that are located in tax havens.
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We base our advice on current legislation, interpretations and legal doctrine. This does not prevent the administration from being able to challenge it or to change existing interpretations.
Alexia De Poorter
Alexia De Poorter
Dries Torreele
Dries Torreele