Belgium implements public country-by-country reporting (CbCR)
On 26 January 2024, Belgium announced the introduction of public country-by-country reporting (CbCR) in the Official Gazette. The new law aligns with the EU Directive 2021/2101 or the EU Public CbCR Directive. On 1 December 2021, the European
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Belgium: Constitutional court revokes several federal and regional DAC6 legislation
On January 11, 2024, the Belgian Constitutional Court released a statement regarding four judgments related to legislation passed by the Federal government, the Walloon region, Brussels, and the French Community. These judgments pertain to the
See MoreBelgium approves 2024 budget Introducing new CFC rules
Belgium has approved the 2024 budgetary measures, including new CFC rules, increased progressive tax on credit institutions, and strengthening Cayman tax rules. New CFC rules One key aspect of Belgiam’s CFC rules is the implementation of the
See MoreBelgium: Parliament to introduce mandatory electronic invoicing
On 28 December 2023, the Belgian parliament deliberated a draft law for amending the Value Added Tax Law to introduce mandatory electronic invoicing. The parliament proposed that the mandatory electronic invoicing requirements would be enacted from
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Belgium enacts law on public CbC reporting
On 21 December 2023, the Belgian Chamber of Representatives passed a legislation for enacting the public Country-by-Country (CbC) reporting as required by Directive (EU) 2021/2101. The Directive mandates that a company is subject to public
See MoreBelgium passes draft bill on GloBE rule
On 14 December 2023, the Belgian parliament approved the draft bill to implement the global minimum tax, Pillar 2, into Belgian law. On 30 November 2023, the draft law for implementing the global minimum tax Pillar Two was accepted by the Belgian
See MoreBelgium proposes new draft law for CFC rules
The Belgian government has submitted a new draft bill to parliament for implementing stricter rules concerning the taxation of the undistributed income of a controlled foreign company (CFC), shifting from model B (targeting tax avoidance
See MoreBelgium: parliament reviewing draft law for pillar 2 global minimum tax
The Belgian parliament is currently considering the draft bill for implementing the Pillar 2 global minimum tax, as per Council Directive (EU) 2022/2523 of 14 December 2022. The draft bill was submitted to the Parliament on 13 November 2023. The
See MoreBelgium releases FAQ on DAC7 obligations of digital platform operators
The Ministry of Finance in Belgium has recently released a Frequently Asked Questions (FAQ) addressing the obligations of digital platform operators imposed by DAC7 (Council Directive (EU) 2021/514). Under DAC7 rule, the digital platform
See MoreBelgium approves draft law on public CbC reporting
On 13 October 2023, the Belgian Council of Ministers passed the preliminary draft law for transposing the EU public country-by-country (CbC) reporting directive (2021/2101). According to the new public (CbC) rules, groups with consolidated
See MoreBelgium: Federal Government agrees on budget measures for FY 2024
On 9 October 2023, the Belgian government agreed on Budget measures for the fiscal year 2024. Here is a broad summary of the key tax measures in the budget agreement, as announced by the finance minister. The proposed key measures are
See MoreBelgium declares e-Filing services for CIT returns
On 28 April 2023, the Belgian Federal Public Service Finance made an official announcement regarding the launch of the Biztax e-service. This digital platform is aimed at facilitating the submission of corporate income tax (CIT) returns for the
See MoreBelgium enacts windfall profits tax on electricity producers
Belgium has implemented a temporary windfall tax on the excess income of electricity producers, aligning with Regulation (EU) 2022/1854 of 6 October 2022. The windfall tax applies to income exceeding EUR 130 per MWh at the rate of 100%, and for
See MoreBelgium: Finance Minister proposes first phase of tax reform
On 2 March 2023, Mr. Vincent Van Peteghem, the Belgian Deputy Prime Minister and Minister of Finance has declared the government's proposal for the first phase of major tax reforms. If adopted, the proposed measures will generally apply as from 1
See MoreBelgium amends guidance on interest deduction rule
On 12 January 2023, Belgium issued Circular 2023/C/8, which provides instructions on the application of the 30% of EBITDA interest deduction limitation starting from 1 January 2019, in line with the EU Anti-Tax Avoidance Directive (ATAD). A summary
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IMF Report Looks at Tax Reforms in Belgium
On 21 December 2022 the IMF issued a report following the conclusion of discussions with Belgium under Article IV of the IMF’s articles of agreement. Owing to the energy price increases, the federal and regional authorities are supporting to
See MoreBelgium enacts DAC7
On 30 December 2022, Belgium enacted a law for implementing into domestic legislation, the EU Directive imposing reporting and exchange of information requirements concerning the activities of certain digital platform operators situated both inside
See MoreBelgium introduces new tax rules
On 30 November 2022, new rules on various fiscal and financial provisions were published in the Belgian official Gazette. Starting from 1 January 2023, new rules will enter into force for Belgian companies or Belgian branches. The key tax measures
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