Belgium: New tax measures

 

Alessandro PasutVAT. Certain types of intra-Community acquisition of goods are currently treated as exempt transactions, so that they must be reported in the VAT return. In order to reduce the administrative burden, they will be treated as transactions that are not subject to VAT as from 1 January 2014, as a result of which the transactions must no longer be included in the VAT return.

As from 1 January 2014, lawyers’ fees have become subject to 21% VAT while previously they were VAT exempt.

Fairness Tax. As from tax year 2014, large companies are subject to a fairness tax on their distributed dividends. While the fairness tax itself is not tax deductible, it can be offset against the prepayments made and the withholding tax paid.

Tax procedure. Adjustments to the income tax code have been made to amend certain aspects of the rules governing tax procedure, such as an enlargement of the powers and authority of tax inspectors in case of tax audits, the scope of the use of information received from the tax payers, notification requirements in case of information received from foreign tax authorities, etc.

To receive expert advise by Alessandro Pasut about new tax measures in Belgium click here!

 

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