More Guidance on Belgium’s General Antiabuse Rule

The Belgian program law of March 29, 2012 has replaced the general anti avoidance rule by an anti abuse rule. The GAAR was introduced in the income tax, registration tax, and inheritance tax codes in 1993 but had proven ineffective. The new rule must combat abuses of tax avoidance schemes, but even after Finance Minister Steven Vanackere published a first …

Budget Tax Bills Enacted

Barely three weeks after Prime Minister Elio Di Rupo was sworn in, the Belgian Parliament on December 28 adopted two bills implementing some of the tax measures announced in the 2012 budget. The bills were signed into law by King Albert II and published in the Belgian State Gazette on December 30. On January 26 the government submitted a new …

Belgian Politics and The 2012 Budget

Belgian Socialist Party leader Elio Di Rupo, who is in charge of forming a new government, announced on November 27 that he has clinched the 2012 budget. There is no way back. On November 25 Standard & Poor’s downgraded Belgium’s credit rating from AA+ to a mere AA. This could lead to higher interest rates and a downward financial spiral. …

The Ruling Committee is back on track

Over the last five years, the Ruling Committee has built up a track record for delivering speedy advance rulings on all sorts of tax issues. More importantly, it grants rulings that offer legal certainty to taxpayers and investors. When the appointment of three board members of the Ruling Committee had to be confirmed by the government in October, the socialist …