In the Tax Insight of August 2018, we already mentioned the introduction of a reporting and withholding obligation in case foreign group companies grant shares and benefits in kind to employees of the Belgian subsidiary.
On 4 April 2019, the Chamber of Representatives adopted the proposal eliminating the separate taxation of 5% for non-compliance with the minimum director’s fee condition.
Article 219quinquies BITC92 would therefore be retroactively removed from the Belgian Income Tax Code as if the separate taxation of 5% never existed.
As a “no-deal” Brexit becomes a more and more realistic possibility, the Belgian VAT Authorities have announced a transitional regime regarding the change from a “direct VAT registration” into a VAT registration via the appointment of an individual fiscal representative.
The deadline for the first submissions by Belgian companies, (international) nonprofit organizations, foundations and trusts of information concerning their beneficial owner(s) to the UBO-Register (“Central register of ultimate beneficial owners”) has been extended.
The deadline has been postponed from 31 March to 31 September 2019.
Most likely, the UK will leave the EU without a deal on 29 March 2019, at 11pm GMT.
Although there is still a lot of uncertainty, we hereby provide you with some action points which should be taken before this date (in any event).
In order to mitigate the discussions regarding the required proof (of transport) of VAT exempt intra-Community supplies of goods, uniform requirements throughout the EU will be effective as from 1 January 2020.
On 30 July 2018, the federal government adopted a new Act (published on 10 August 2018 in the Belgian Official Gazette) which adapts some of the measures established by the Law of 25 December 2017 reforming Belgian corporate income tax.
RSM Belgium informs you
All vouchers issued after 31 December 2018, will be subject to a new VAT regime, as determined by Directive 2016/1065/ EU. Although this Directive has not yet been transposed into the Belgian VAT legislation, we hereby provide you with the key elements.
In the context of anti-money laundering legislation, the Belgian Act of 18 September 2017 implementing the fourth anti-money laundering directive (Directive 2015/849 of the European Parliament and the Council of 20 Mei 2015) planned the constitution of the “ultimate beneficial owners” Register (so-called “UBO Register”).
The Belgian social security authorities have changed their administrative instructions last month: when a foreign mother company grants shares to employees of the Belgian subsidiary, Belgian social security contributions are due.