2022 Tax Return: the Guide

Post Covid, many of us have gone back to work with no desire to be back full time. We all have more or less enjoyed working from home and the government is trying to make life a bit easier with some tax measures (see “Taxes in Corona Times”). It sounds worse than it is. 40% of all the taxpayers fill out less than ten codes. …

Estate Planning with Gifts

For Belgians, gifts have always been a favourite way of planning their estate. What you do not have anymore cannot attract inheritance tax. In Belgium, one way of planning one’s estate is to make gifts during one’s lifetime. If gift tax is paid, no further inheritance tax will be due. Gift tax is due on all gifts before a notary. However, it is not obligatory …

Estate Planning with Wills

A Will is a useful tool for tax planning, in fact, it is the first and last tool for tax and estate planning. Getting your Will right is important Since no inheritance tax is due on the family home between husband and wife and between registered partners, it can be advantageous to leave the family home in full to your spouse or partner. But then …

Estate Planning for Dummies

For those who think that estate planning is all about avoiding or minimising the inheritance tax. It is that as well but much more. Estate Planning is also about planning for young children about making sure that what you have goes to who you want, about making sure that the children do not get your estate too early about defusing family conflicts about managing your …

Life Insurance Gifts and Joint Life Second Death.

On 1 January 2022, Wallonia aligned its inheritance tax rules relating to life insurance on those of the Flanders. The Brussels Region has just amended its legislation along the same lines. The rules are now aligned in the three regions. Among the new tax measures introduced by the Brussels-Capital Region, we would like to highlight the following: Gift of an insurance policy When a person …

The taxman, a sore loser

When the taxpayer and the taxman do not agree on the interpretation of the tax law, they often end up in court. When the taxpayer wins, the taxman generally – usually – appeals as a matter of principle. When the court of appeal confirms the first decision, the taxman can submit the second decision to the Supreme Court, the Cour de Cassation. He often does …

Retirement Planning for Expatriates in Belgium

Retirement planning is a process with many steps that evolves over time, and it doesn’t stop when you retire. Let us help you take some important decisions Retirement planning is a process with many steps that evolves over time.   To have a comfortable, secure – and fun – retirement, you have to build the financial cushion that will fund it all. To get to …

TEP-talk: Trusts, Trust Deeds, … in Belgium ? … Definitely not?

dd Belgian law does not have trusts, but they are not an unknown notion in Belgium. However, how does Belgium cope with trusts? Trusts are a typically Anglo Saxon notion. And when you are British, Irish, American, Canadian, … you will have come across trusts, you may have set up a trust, you may be a trustee yourself or you may be the beneficiary of …

International Divorce in Belgium, and taxes

Living in Belgium if you are not Belgian brings its worries. And when your partner decides to call it a day, how do you deal with a divorce? Life in Belgium is often quite different from what you are used to at home. Adapting to work, getting the children to school, settling in … it takes some time, but after a few months or years, …

Estate Planning for EU Officials

EU officials are deemed have kept their tax domicile in the country where they were recruited That makes estate planning a bit more complex The tax status of an EU official is governed by the articles 12 and 13 of the Protocol (No 7) on the Privileges and Immunities of the European Union. Article 13 determines where EU officials have their tax residence. The deemed tax residence …

Taxes and Bitcoin

We cannot ignore them anymore. Cryptocurrencies – the tokens based on blockchain technology – are now commonplace, with all the media attention and the reports of large gains, or losses. How are crypto gains taxed? Crypto gains come mostly from trading in coins (or derivatives), staking, lending, mining, but in practice earning models are much wider There is no clear legal framework to determine how …