The Finance Ministry of Belgium has unveiled plans to tighten the rules next year for companies which fail to settle their professional wage-withholding tax obligations for compensation paid out to company directors.
The requirements are not being complied by some businesses.To regularize their tax situation and to settle any withholding tax due the companies have been given time until the end of 2013.The Belgian Tax Administration has a plan to increase the number of corporate audits to verify compliance with the rules.
Income allocated to Belgian entities or to non-residents with a similar legal form, carrying out the role of company director, must be listed on forms 281.50 and 281.30 respectively. No withholding tax is due in the case of payments made to Belgian entities.
