TAG_SEARCH_RESULT : Tax-and-legal-services

A reminder of the most significant tax-related points
‘For free’ is not always ‘VAT-free’
 ‘A free sample, a gadget with a corporate logo, rewarding faithful buyers and suppliers with a small gift…’ Every company is familiar with this situation, but are they also aware of the tax-consequences of these generous gestures? The tax authorities recently published a circular as a reminder of the most significant tax-related points for attention in this respect.  The rules&
An extra advantage when you switch to self-employment
‘Springboard to self-employment’
The ‘Springboard to self-employment’ (‘Springplank naar zelfstandige’) benefit is a measure that allows for a person to perform a sideline activity as a self-employed person while still being entitled to unemployment benefits for a period of twelve months.  1. What are the conditions?  To take advantage of this measure, the following conditions must be fulfilled: 
Reduced corporation tax: in favour of or to the detriment of the taxpayer?
A new minimum remuneration requirement
The Summer Agreement, partially translated into the Corporation Tax Reform Act of 25 December 2017 (published in the Belgian Official Gazette of 29 December 2017) introduces a reduced corporation tax rate that falls to 25% by tax year 2021. Under certain conditions, a small company can even benefit from a reduced rate of 20% on its first tranche of € 100,000 of taxable revenue. However, the
A number of regulated professions are being abolished
Abolition of professional competence in Flanders: the consequences at a glance
In accordance with the Establishment of Businesses Act, every SME, natural person or legal entity wishing to engage in a commercial activity must prove the necessary entrepreneurial skills. For most professions, a basic knowledge of business management is sufficient but for a number of others, specific professional competence is required. This is in contradiction with European legislation that sta
we will analyse the guidelines related to this reform
After the new inheritance law comes the ‘drastic’ reduction in inheritance tax… or not yet?
Further to the inheritance tax reform and the changes planned in the matrimonial property law, the Flemish government has also announced a change to inheritance tax. The aim was not only to simplify, relax and reduce this grief-related tax, making it more in tune with the new inheritance law, but also to create more alignment with new family relationships. There was talk of a ‘drastic’ change
The published circular creates clarity
Are fundraising dinners VAT-liable? We clear up the exemption for charitable support
When a VAT-exempted society decides to host an event for the purpose of raising funds, such as a fundraising dinner, it was often uncertain as to whether the event was exempt from VAT. In the wake of a legislative amendment in 2016 a circular has now been released to clear up matters. Introduction The VAT Code contains an exemption for the delivery of goods and services provided by specified s
Tax & Legal Services
Are you selling your property at a higher value than you think?
With interest rates for loans at a historic low in recent years, many Belgians have ventured to invest in additional property – saving for a rainy day, as it were.
Revolutionary decree
Belgian Tax Administration rebuffed: exit “subject-to-tax clause”?
On 25 January 2018, the Court of Cassation reached a remarkable decision in the context of allocation of taxing rights for professional income earned within an international context. The dispute In concreto, the case pertained to professional income earned by a professional cyclist. During the period 2007-2009, said cyclist was engaged by a Belgian employer and participated in numerous races a
The basis for lifting the Swiss banking secrecy
Belgian-Swiss double taxation convention Amendment takes effect
On 10 April 2014 Belgium and Switzerland signed an Amendment of the Convention on preventing double taxation for taxes on income and on assets. This Amendment entails a number of significant innovations. For example, the Amendment contains an article on exchanging information within the double taxation convention between Belgium and Switzerland, with this provision being the basis for lifting Swis
Also the unequal treatment gets reviewed
Benefit in kind for housing: how to anticipate the higher or lower scenario?
Discrimination as regards the benefit in kind for housing has been highlighted on several occasions. Specifically, it relates to the unequal treatment of the same benefits, whether in terms of provision by a sole trader or provision by a legal person. In the most common cases, the benefit arising from being a limited company is almost four times more expensive taxation-wise than the benefit arisin
Control your own legacy with this new agreement
Bill proposing that inheritance law be reformed: what can we expect?
Belgian inheritance law, which is still largely derived from the 1804 Napoleonic Code, is ripe for a comprehensive overhaul. And so the demand for a new and modernised law of inheritance that is more in equilibrium with the needs of contemporary society has existed for quite some time. On 25 January 2017 a new bill was introduced in parliament, which entails amending the Civil Code insofar as inhe
What are the consequences and the opportunities?
Buying real estate in the Netherlands: are there tax benefits?
In recent years the purchase of property in the Netherlands has seen an uptick, especially in the beachside town of Cadzand, where 1,500 new apartments and houses are being be built between 2008 and 2020. This is the perfect opportunity to examine the (tax) consequences of buying real estate in the Netherlands and the opportunities it offers in respect of asset and inheritance planning. This artic
Tax & Legal Services
Classic cars: an interesting investment from a tax perspective?
Aficionados of ‘collectible cars’ have – and still do – purchased countless classic cars out of both a love for vintage vehicles and to proudly display their showpieces to the world. However, in recent years classic cars are increasingly purchased as an investment by both wealthy and less-wealthy individuals. So when does such an investment become appealing in terms of taxation – when pu
Tax & Legal Services
Don’t forget your advance payment for December 2016!
Taxpayers who submit their VAT returns monthly must check annually whether or not they are required to pay the December advance for VAT payable on transactions performed during the month of December. 1. Introduction This obligation is only applicable to those submitting their returns monthly, and taxpayers who submit their returns every quarter can thus disregard the measure. The latter grou
Tax & Legal Services
Draft Programme Act submitted: some tax-related topics highlighted
There has been a great deal of hullaballoo in the media in recent months concerning the possible overhauling of the corporation tax system, and for many this was a tense time as they waited to see whether or not these comprehensive reforms would be introduced together with the new year. But it is now evident from the draft Programme Act, which was published on 7 December 2016, that the thoroug
Modernisation of the VAT system
Europe announces biggest VAT reform: first amendments to take effect as from 1 January 2019
Based on the knowledge that the current VAT system is no longer adapted to the rapidly-evolving digital and mobile economy, the European Commission has been striving for years for profound modernisation of the VAT system. A thorough study and investigation into the way in which this should be done specifically resulted in a proposal from the Commission, in December 2016, giving priority to simplif
The struggle against fiscal fraud
FATCA: Prevention is better than reclamation
The US Foreign Account Tax Compliance Act (FATCA) has been in effect since 1 July 2014. The law is part of the war on tax fraud and is aimed at tackling international tax avoidance by American citizens through a new system of global automatic data exchange. What obligations have been introduced under FATCA? Under FATCA certain identification, reporting and/or content obligations are imposed f

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