The Belgian Council of Ministers has given approval of the tax simplification bill.
According to the bill, any individual for signing a contract last year for the construction of a low energy home will benefit from the tax reduction applicable for low energy houses at the time. This will apply up to ten years after the relevant certificate was issued.
This tax simplification bill contains provisions regarding the notional interest deduction mechanism. To restore legal certainty for Belgian companies active at an international level this bill was introduced. Beside of these, the proposed legislation increases the annual turnover threshold for the submission of monthly VAT declarations from EUR1m to EUR2.5m.
