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Heeft u in 2016 een investering in een startende micro-onderneming gedaan via een financieringsvehikel en claimden u of uw boekhouder slechts een belastingvermindering van 30% in de aangifte personenbelasting, zal u alsnog aanspraak kunnen maken op de resterende 15% en uw belasting over 2016 bijkomend kunnen verminderen. Daartoe zal u een bezwaarschrift of een verzoek tot ambtshalve ontheffing te tot bijkomende belastingvermindering moeten richten aan de bevoegde belastingdienst. Wij doen…...

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On 25 October 2017 the Belgian VAT authorities clarified in a Circular Letter that payments specifically made to repair damage caused by a delay in the execution of work have the nature of an indemnity payment. These payments thus fall outside the scope of application of VAT and should not be treated as price reductions that reduce the taxable base. Since contractual fines for delays in the execution of work…...

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On 12 October 2017 the Belgian VAT authorities issued guidance on how to interpret the ECJ’s recent judgments on the right to deduct VAT in connection with the requirement to hold a correctly drawn up invoice (Circular Letter 2017/C/64). As you know, in order to exercise the right of deduction a taxable person must, inter alia, hold an invoice mentioning certain mandatory elements (e.g. the date on which the invoice…...

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On 21 September three rulings have been issued by the ECJ which will have a significant impact on the costs structure of businesses in the financial sector. The ECJ explicitly ruled that the CSGs scheme cannot be applied in the banking and insurance sector, in which businesses often rely on the CSGs scheme to mitigate VAT leakage. The CSGs scheme now seems to be blocked for such businesses, which will…...

Kernpunten Innovatieaftrek van toepassing sinds 1 juli 2016. Ruimer toepassingsgebied dan de vroegere aftrek voor octrooi-inkomsten. Daarom zeker te bekijken door iedere onderneming die intellectuele eigendomsrechten bezit. ______________________________________________________ Uw bedrijf heeft nooit toepassing gemaakt van de aftrek voor octrooi-inkomsten bij gebrek aan kwalificerende patenten. Uw bedrijf is echter wel eigenaar van andere intellectuele eigendomsrechten, zoals merkenrechten en software. Biedt de nieuwe innovatieaftrek mogelijkheden tot fiscale optimalisatie? Onder druk van de…...

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Belgian Corporate Income Tax rate to decrease from 33.99% to 25%. Other measures to guarantee budget neutrality. On 26 July 2017, the Belgian government agreed on a far-reaching Belgian tax reform aimed at stimulating economic growth & attractiveness for foreign investment, job creation and overall fairness in taxation policy. The most important measures include a reduction of the corporate income tax rate, a minimum effective tax rate, a tax consolidation…...

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The European Commission is willing to introduce Mandatory Disclosure Rules (MDR) for intermediaries designing and promoting potentially aggressive cross-border tax planning arrangements. Who will have to notify these arrangements? What about tax intermediaries whose advice are legally privileged? Which arrangements fall within the scope of this proposal? Will this new set of rules have an impact in Belgium? Context On 21 June 2017, the European Commission submitted a proposal for…...

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On 17 May 2017, the Court of Justice of the EU (ECJ) has ruled that the Belgian fairness tax is not fully in accordance with EU law. In particular the ECJ finds that the fairness tax partially violates Article 4 of the Parent-Subsidiary directive (PSD) and can violate the freedom of establishment. The ECJ hereby confirms the position that was taken by the Advocate-General (AG) in its opinion of 17…...

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1  History of the tax shelter for equity investments in starting companies Since mid-2015, Belgian legislation provides for a very interesting tax incentive for Belgian-resident private individuals who invest in the capital of a Belgian or EEA startup that is less than four years old. The first move was the tax shelter law of 10 August 2015, providing the framework and the many conditions for the personal income tax reduction of…...

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This publication is only available in French....

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Christian Chéruy in the article "Les investisseurs n'ont pas oublié les 540 jours sans gouvernement" in l'Echo, 26 October 2016...

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La déduction des amendes européennes anti-cartel est-elle contraire au principe de coopération loyale aux objectifs de l’Union? Une pierre angulaire devient pierre d’achoppement...

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Pour accéder à cet article, veuillez-vous rendre sur le site du Journal des Tribunaux de Travail...

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Severance payments are taxed separately at the average tax rate for the year prior to that in which the employee performed a normal professional activity. This year is also referred to as the ‘reference year’. The tax authorities used to accept a year as being a reference year if the employee in question had earned professional income for the full twelve months. Consequently, a reference year could also be a…...

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Caroline Docclo contributed to the Belgium Chapter of the The Tax Disputes and Litigation Review 3rd edition. To ask for the PDF version of the exclusive chapter, click here Book information and order: here...

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Laurent Donnay de Casteau contributed to the chapter "Benelux: chronique de l'année 2014" in Revue de Droit Fiscal n°9 issued on 26 February, 2015 For the PDF version of the exclusive chapter, click here...

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Yvan Stempnierwsky, author of "IFRS 15 Produits des activités ordinaires tirés des contrats avec les clients : une nouvelle norme internationale pour la comptabilisation et l'évaluation du chiffre d'affaires", in Actualités comptables, March 2015 Yvan Stempnierwsky, « IFRS 15 Produits des activités ordinaires tirés des contrats avec les clients : une nouvelle norme internationale pour la comptabilisation et l’évaluation du chiffre d’affaires », Actualités comptables, mars 2015....

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Yvan Stempnierwsky contributed to the chapter "Comptabilité" of the ACE Comptabilité, fiscalité, audit, droit des affaires au Luxembourg of February 2015. Yvan Stempnierwsky, « Les extraits de la base de données de l’EECS : une source de doctrine particulièrement autorisée pour l’application appropriée et cohérente des normes IFRS ! », ACE Comptabilité, fiscalité, audit, droit des affaires au Luxembourg, Wolters Kluwer, Belgium, 2015/2, pp.8-17...

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“Le mystère belge de la translucidité des SCI françaises”, note under Ghent 29 April 2014...

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Depuis 1997, la déclaration fiscale annuelle à l’impôt des personnes physiques contient une rubrique relative à l’existence de comptes (comptes ouverts auprès d’un établissement de banque, de change de crédit ou d’épargne) à l’étranger. Le contribuable est obligé de déclarer tous comptes ouverts à l’étranger (même pour un laps de temps restreint): il convient d’indiquer dans le formulaire le nom du titulaire du compte et l’Etat dans lequel le/les compte(s)…...

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1.     Introduction of duty to report legal structures A bill introduces the obligation for Belgian, personal income taxpayers to report, each year, the existence of any legal structures of which they, their spouses, or underage children, are either founders or (to their knowledge) beneficiaries. The manner or time at which the advantage is conferred, is irrelevant. The reporting obligation also extends to potential beneficiaries. 2.     Definitions of legal structure A…...

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1.     Introduction The Bill, approved by the plenary session of the Chamber of Representatives on 17 July 2013, includes some of the new tax measures that have been announced by the Belgian government during the latest budget negotiations which took place at the end of June. 2.     Fairness tax As from tax year 2014 (for most companies: financial year 2013), companies become subject to a so-called ‘fairness tax’ on their…...

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  The notional interest deduction (“NID”) refers to the deemed interest expenses that Belgian companies and establishments are entitled to calculate annually on the amount of their total equity and deduct for tax purposes, thus reducing their tax bases. The deduction is based on the amount of a company's total equity as determined in accordance with Belgian GAAP, and comprises the share capital and share premium as well as the…...

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  1                 Introduction This tax newsletter provides an overview of some of the more important recent changes to Belgian income tax law. Some of these changes are already enacted while others are included in Bills currently going through Parliament. Since some of the measures are still under discussion in Parliament, some details of the information provided, may still be modified. 2                 Notional interest deduction (NID) Currently, the maximum NID is…...

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Both the rate and the ability to carry-forward notional interest deductions (“deduction pour capital à risque”) have been modified following the latest budgetary measure (some of which have not yet been drafted in legislation).  These modifications are summarised below. Carry-forward First, as regards new deductions (as of tax year 2013), the notional interest deduction of a relevant tax period may only be used to off-set the profits of that tax…...