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 …

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 …

Taxes in Corona Times

Covid-19 has changed certain rules and habits. You can get help to complete your tax return but only over the phone and the tax authorities are banking on that. Exceptionally, you can make an appointment at their offices for help. It is only if they cannot help you over the phone that they will meet you in person (see Help!?). You may have been forced …

Tax Return: Appeal the Tax Bill

How and where you do that is explained on page 2 of your tax bill. You have to send a letter to the address in the middle of the page within six months after you receive the tax bill. That means the letter must arrive with the tax authorities within six months plus three working days from the date the tax assessment was sent out. …

Tax Return : The Tax Bill

tax bill

Now that you have filed your tax return, all that you can do is wait for the taxman to send you the tax assessment or tax bill. The “avertissement extrait de role”/”aanslagbiljet” is really the tax bill for your 2021 income. If you have not seen one before, you can click here to see one. If the tax bill is not sent before 30 June …

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Airbnb

If you let out a furnished property through short term rental agreements or through Airbnb, you have to pay tax on the rent for te apartment and on the rent for the furniture. If you want to rent an apartment through Airbnb, with services that you or an agent provide (e.g. BNBE), the tax regime is slightly more complicated. How is a furnished rental taxed? …

Tax Return: Nowhere to Hide

For years, many people thought they could safely “forget” the income they had outside Belgium; the taxman would never find out. The EU Savings Directive was a rude wake-up call as the Belgian tax authorities started receiving information about overseas bank accounts and enquiring about overseas bank accounts. And when Belgian banks started reporting to the tax authorities abroad, they thought “Surely, Luxembourg and Switzerland …

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Tax Return: Tax on Securities Accounts

In 2018 Belgium introduced a wealth tax; in 2019, the Constitutional Court declared the tax discriminatory and annulled the tax … for the future.  This means that you had to pay the tax the last time in 2020. However, the government has introduced a new Tax on Securities Accounts that is due again as of next year. The main change is that the tax is …

Tax Return: Stock Exchange Tax

Belgium has always charged a tax on stock exchange transactions, such as the purchase and sale of some financial instruments (that is a general term for stocks, bonds, units of mutual funds, etc …) on a secondary market, and the sale of mutual funds (UCITS), through a Belgium-based professional intermediary, a bank or broker.   The tax is also due when you buy or sell …