DAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreBelgium: Further proposal for digital services tax (DST)
The digital services tax (DST) was at first proposed in January 2019, but it was on hold due to the general elections. Again the proposal was reintroduced in July 2019, but was not discussed in the national parliament. An updated version of the
See MoreBelgium updates TP documentation guidance
On 30 June 2020, the tax authorities of Belgium published Circular Letter 2020/C/88 with updated Frequently Asked Questions (FAQs) concerning transfer pricing (TP) documentation requirements i.e. the local file (LF) and master file (MF) forms, the
See MoreBelgium extends tax return deadline to 29 October 2020
On 6 July 2020, Federal Public Service (SPF) Finance has issued a notice declaring that Biztax is available for the 2020 tax year. The notice indicates that the Minister of Finance granted an extension of the due date for filing the corporate
See MoreBelgium declares guidelines on EU directive DAC6
On 26 June 2020, the Belgian tax authorities published a circular on the EU directive on mandatory disclosure of cross-border arrangements (DAC6) with effective from 1 July 2020. The published circular provides guidelines on the interpretation
See MoreBelgium: Parliament adopts business loss carry-back relief
On 18 June 2020, the parliament of Belgium adopted a bill providing provision for loss carry back applicable for companies in response to Covid-19 pandemic. The loss carry back is provided by allowing for the creation of a tax-exempt reserve
See MoreBelgium: Investment allowance rates for AY 2021
On 22 May 2020, Belgium has published notice in the Official Gazette that contains investment allowance rates for the assessment year (AY) 2021. The following table summarizes the applicable allowance rates for specific investment types made by
See MoreBelgium revises tax return filing deadlines
On 5 May 2020, the Belgian Ministry of Finance has announced that "Tax-on-web" on the MyMinFin portal is now available for income tax returns. The announcement also lists out the tax return filing deadlines for individual and companies in 2020, as
See MoreBelgium clarifies interest restriction rule due to COVID-19 pandemic
On 5 May 2020, the tax authority of Belgium published Circular No. 2020/C/62 providing new clarifications on the “grandfathering” rule, under the interest deduction limitation rule, loans made before 17 June 2016 are excluded from the scope of
See MoreBelgium: TP Circular on OECD guidelines
On 25 February 2020, the Belgian tax authorities published the final version of the transfer pricing (TP) Circular No. 2020/C/35 in French on their website on transfer pricing guidelines for multinational enterprises and tax
See MoreBelgium: Tax measures amid COVID-19 pandemic
On 18 March 2020, Belgian Ministry of Finance (MoF) has published support measures in response to the coronavirus (COVID-19) pandemic. The tax measures includes several tax relief related to corporate income tax, personal income tax, value added
See MoreBelgium enacts amended interest deduction limitation rule
On 27 December 2019, a royal decree of 20 December 2019 published in Belgian official journal introduces several changes to the interest deduction limitation rule in the Income Tax Code, often referred to as the 30% earnings before interest, tax,
See MoreBelgium enacts EU mandatory disclosure regime (DAC6)
On 12 December 2019, the Belgian Parliament adopted legislation implementing the EU Directive on the mandatory disclosure and exchange of cross-border tax arrangements (DAC6) and it was published in the Official Gazette on 30 December 2019. Under
See MoreBelgium approves draft law to transpose EU directive on cross-border arrangements
On 11 October 2019, the Belgian Council of Ministers approved a draft law to transpose EU Directive 2018-822 of 25 May 2018 on reportable cross-border tax planning arrangements. The Directive includes measures to require the reporting of
See MoreBelgium announces compliance for pre-filing requests regarding TP
The Belgian ruling commission has announced that pre-filing requests or ruling requests concerning Transfer Pricing (TP) or the patent income deduction regarding the corporate income tax return that will be filed by the end of September 2020 must
See MoreBelgium: CbC report corrections guidelines
On 30 July 2019, the Federal Public Service Finance of Belgium issued a notice on its transfer pricing - BEPS 13 guidance page that the MyMinfin Portal is now available for the submission of Country-by-Country (CbC) report
See MoreBelgium updates EU directive on tax dispute resolution
Belgium has published the Law of 2 May 2019, which transposes Council Directive (EU) 2017/1852 of 10 October 2017 on tax dispute resolution mechanisms in the European Union. The directive lays down rules on a mechanism to resolve
See MoreBelgium Updates XML Tool and the XSD schema for Local File
The Belgian Federal Public Service (SPF) Finance has published an update version 2.1 of the XML tool and the XSD schema for the Transfer Pricing (TP) Local file (Form 275 LF), which must be used for Local files submitted via the MyMinfin platform
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