The registration requirement goes further than the classic gifting of Belgian company shares before a Dutch notary, covering any gift made by a Belgian resident before a foreign notary. From 1 December, all gifts of foreign movable assets that are notarised abroad must also be registered in Belgium. Such foreign moveable assets could be shares in a foreign company, for example, or a yacht that is moored outside Belgium.
In practical terms, this means that from 1 December, you will have to pay tax on certain gifts both in Belgium and abroad. Gifts are taxed at 3 percent in Flanders and Brussels and 3.3 percent in Wallonia.
Do you have any foreign moveable assets that you have been thinking about gifting to your children someday soon? Do not put it off for too much longer. Our experts are happy to help you determine the legislative proposal’s effects on your personal situation.
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.