NEWS

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Interest on late payment of tax: new rules from 1 January 2018

Interest on late payment of tax: new rules from 1 January 2018 A ‘late payment interest’ (LPI) is charged on any income tax or penalty that remains unpaid after it has become due and payable (Article 414 ITC). The current LPI is 7% (a non-deductible expense). The LPI...

No more double taxation for staff members of Belgian embassies abroad

No more double taxation for staff members of Belgian embassies abroad. Staff members of a Belgian embassy that work in a country that has no double tax treaty with Belgium, will no longer have a risk of being taxed twice (namely in Belgium and in their own country)....

Belgian corporate tax reform

Belgian corporate tax reform About a year after first presenting his ambitious corporate tax reform plan, the Belgian Finance Minister has now given the green light to implement a general tax reform as from 2018. Most new measures were copied from last year's...

Stock options & management companies

Stock options & management companies In a circular letter of 13 April 2017 (nr. 2017/C/21), the Belgian tax authorities further clarify the tax treatment of stock options granted to managers who work with a management company. According to the Belgian stock option...

VAT advance payments abolished as from 1 April 2017

VAT advance payments abolished as from 1 April 2017 To further simplify Belgian VAT compliance, the tax authorities have announced that the advance VAT payments required of taxpayers that file quarterly VAT returns, will be abolished as from 1 April 2017. In other...

Belgium and Japan sign new tax treaty

Belgium and Japan have signed a new tax treaty which is to replace the current treaty of 1968, that was amended in 1988 and 2010. According to the new treaty, dividends will be subject to a maximum withholding tax (WHT) of 10% (currently 15%). An exemption is included...

Belgium may reduce corporate income tax rate to 20%

As part of a broader reform, the Belgian government is working on a proposal for a corporate tax reform. The proposal includes, among other measures, a significant reduction of the corporate income tax rate (CIT) from (currently) 33.99% to 20% by 2020. The corporate...

Social security update for 2016

Since 2015, social security contributions for self-employed individuals are no longer calculated on the income of the 3rd preceding year, but on the income of the current year. If it is to be expected that the self-employed person’s income for 2016 will be...

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