Although the arm’s-length principle, which forms the basis of the framework of transfer pricing rules, has had a long international history, it was only explicitly introduced into Belgian legislation in…
The Belgian Constitutional Court is a court of law watching over the observance of the Constitution by the legislative authorities of Belgium. It has the power to annul, to declare…
On 4 June 2020, the Luxembourg government announced that the negotiations on the European Commission proposal1 for a directive amending Council Directive 2011/16/EU dated 15 February 2011 that aims to postpone…
In its decision of 30 April 2020, dealing with the Italian Financial Transaction Tax (FTT), the European Court of Justice (ECJ) has ruled that there is no violation of the…
On 13 May 2020, the Belgian political party, CD&V, submitted a draft bill to relax the 18% final withholding tax regime on income paid to foreign artists and sportspersons.
A first possibility is to extend the exercise period of the stock options. Depending on the significance of the decrease of stock value, however, such an extension, potentially, needs to…
The gain which could result from stock option schemes depends on several factors such as the company’s growth expectations, market trends, geopolitical events, …
In a context of increasing mobility within the European Union, Spain and Portugal are popular destinations for, among others, pensioners looking for a milder (tax) climate. There are however, in…
Flemish Region In principle, an economic activity must be continued - without interruption - for a period of three years after the donation in order to maintain the exemption. A…
:: Update 07/05/2020 :: In the context of the COVID-19 crisis, there is a great need for medicines and medical devices, such as facemasks, respirators, etc. An important question here…
:: UPDATE - 16/02/2021 :: When VAT payers donate goods, this can have adverse tax consequences. As far as VAT is concerned, this may mean that VAT has to be…
On 4 September 2019, the Court of Justice of the European Union delivered an interesting judgment on a real estate transaction relating to the sale of land together with a…
The partnership is a commonly used control structure for estate planning purposes. A partnership is usually established between parents and children. Given the Covid-19 virus, the physical gathering is currently…
No deferment, but a repayment plan Anyone who has received an assessment in gift or inheritance tax and who is experiencing financial difficulties can always apply for a repayment plan.…
In view of the exceptional situation and the more stringent security measures, the Flemish Tax Administration has decided to extend the inheritance tax return period without incurring a tax increase.
In view of the exceptional situation and the more stringent security measures, the Flemish Tax Administration has decided to extend the inheritance tax return period without incurring a tax increase.
In view of the exceptional situation and the more stringent security measures, the Flemish Tax Administration has decided to extend the inheritance tax return period without incurring a tax increase.
Employees and directors may be asked to agree to a temporary renunciation of their wages considering liquidity challenges faced by many companies as a result of the COVID-19 pandemic. Such…
To soften the loss of income of the employees being confronted with temporary unemployment due to the COVID-19 pandemic, employers may want to pay a supplement on top of the…
In a press release of 11 April 2020, the government announced a second wave of measures to support the Belgian economy. One of these measures which is soon to be…
For several years now, Belgian tax law provides for a (partial) withholding tax exemption on wages paid to night and shift workers. This measure implies that employers employing employees on…
Now that the border between the Netherlands and Belgium is as good as closed, the question arises whether a Belgian resident can still make a donation of movable property before…
In case you are sick and wish to draw up a will, a holographic will is the simplest way. However, sometimes a notarial will or an international will may be…
Many people are considering to make a will in these corona-times, just in case. However, the drawing up of a will is not obvious these days given the lockdown-measures to…
Parent companies of multinational groups or entities managing the group treasury function will consider their options to provide liquidity carefully in times of financial distress. When considering liquidity management through…
Individuals receiving income taxable in Belgium but who do not qualify as Belgian tax residents, are in principle required to file a so-called Belgian non-resident income tax return.
Three months have passed since the entry into force of the EU quick fixes for VAT. As explained in our previous newsflashes, these quick fixes should simplify the VAT rules…
On 30 March 2020, the European Commission published a fact sheet regarding frontier workers and posted workers affected by the restrictions on free movement of people within the EU as…
As a result of the imposed COVID-19 measures, numerous cancellations of events and bookings for flights, hotels, restaurants, etc. have occurred. In order to mitigate the loss of revenue due…
Gift vouchers and other coupons that can be redeemed as a full or partial consideration for the supply of a good or service may qualify as a "voucher" under the…
As a result of the COVID-19 crisis, many cross-border workers are unable to physically work from their country of employment, some have to work from home, others are laid off,…
Here is the answer no. Being compliant with VAT reporting obligations is a requirement that belongs to the company itself. In principle, a late filing of the VAT return cannot…
Your VAT number should not be cancelled if you, as a VAT payer, no longer carry out any VAT taxable activities for a certain period of time (e.g. due to…
:: UPDATE - 01/09/2020 :: A company that wants to set up a website where customers can buy goods and whereby the company facilitates the transport to the private customers…
There are different situations conceivable here. A distinction has to be made between the situation where a traveller has booked all parts of his journey on his own (transport, hotel,…
If a hotel owner is unable to provide hotel services because the customers do not show up, he can, in principle, reclaim the VAT on the advance payments through the…
The VAT treatment of the sale of tickets for events is the subject of discussion as there is no uniform interpretation within the EU. However, the exact VAT-qualification may have…
:: UPDATE - 16/02/2021 :: In the context of the COVID-19 crisis, there is a great need for medicines and medical devices, such as facemasks, respirators, etc. An important question…
:: UPDATE - 16/02/2021 :: In normal circumstances, restaurant and catering services, excluding the provision of beverages, are subject to the reduced VAT rate of 12%. Drinks offered as part…
It is conceivable that perishable goods such as food, flowers or perishable raw materials will become unsellable as a result of the compulsory closure of certain companies.
As a result of the COVID-19 crisis, suppliers and service providers will be more often confronted with unpaid invoices or invoices that may only be paid long after the due…
In addition to the above-mentioned special measures in the context of the COVID-19 outbreak, there are still opportunities under the existing VAT-regulation that VAT-taxable persons might use. We will list…
Yes, the Belgian government has granted an accelerated refund of the VAT credit with respect to the February 2020 VAT return for all companies that submit monthly VAT returns and…
:: UPDATE - 16/02/2021 :: Through a duly motivated request that is submitted to the Regional "Tax Collectors Office" (in Dutch: Regionaal Invorderingscentrum) of the postal code of your place…
In the event that an excess amount has been prepaid, a request for a refund can be submitted through the MyMinfin electronic platform, until the last day of the third…
During the course of the financial year, there are several due dates prior to which tax prepayments (“TPP”) can be made. For financial year 2020 (closing date on December 31),…
On 30 March 2020, the Luxembourg Government published a draft bill of law introducing measures to deny the tax deduction of interest and royalty payments made to affiliated parties established…
Yes, uncertainty impacts certain parameters in valuations, having a negative impact on the outcome. Values of distressed companies and assets are expected to be lower than their non-distressed counterparts. Next…
Intercompany agreements are often the starting point in assessing transfer prices in a group context. It is very likely that the COVID-19 crisis will have an impact on terms and…
COVID-19 is very likely to have a significant impact on the results of multinational companies worldwide, because of disrupted (global) supply chains, significantly impacted demand, the search of liquidity, etc.…
1. Automatic deferral for income taxes For corporate income tax, personal income tax, legal entities tax, and non-residents tax debts the payment periods have automatically been deferred by two months…
The deadlines for the filing of corporate income tax, legal entities tax and non-resident/corporate tax returns that had to be filed between 16 March (incl.) and 30 April (incl.) has…
The law implementing the Council Directive (EU) 2018/822 of 25 May 2018 as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements…
Overview International COVID-19 measures : Our fellow members of WTS Global have collected information and advice on managing the impact of COVID-19 in their home markets. We are pleased to offer you…
Facing the pandemic, the Luxembourg government adopted a regulation on 18 March 2020 declaring a state of emergency and introducing several measures, including a partial lockdown, as also seen in…