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Wallonia reduces gift tax

In the wake of the tax reform in December 2017, the Walloon government is proposing to reduce the gift tax of houses and apartments and to simplify the calculation of the tax. Wallonia follows Flanders and Brussels. The gift tax is calculated depending on the relationship between the donor and the donee and the value of the gift. In direct …

New tax rules in Wallonia in 2018

On 13 December 2017, the Walloon Parliament has modified certain tax rules regarding inheritances and donations as well as the purchase of a building. In respect of inheritance tax, the surviving spouse or civil partner will be entitled to total exemption for the family home.  Until 2017, this exemption was limited to € 160,000.  Wallonia is thus on the same …

Flanders reduces gift tax rate for real estate

The decree “regulations for the execution of the budgetary adjustment in 2015” of the Flemish Parliament was adopted on 3 July 2015 and published in the Belgian State Gazette of 15 July 2015. One of the salient decisions is a substantial reduction of the gift tax rates for real property. Inheritance Tax and Gift Tax in Belgium Belgian is a …

New Gift Tax Rates in Flanders

Flanders is introducing new tax rates for the donation of real property. The old rates are on the left, the new rates are on the right. Real property Gift tax on real property is calculated on the value of the donation 1 Direct line, spouses, registered partners   on the band between Rate on the band between Rate €0 – …

Tax Haven Flanders

La Dernière Heure has discovered a tax haven next door : Flanders. The occasion is that since 1 July, the gift tax on houses and apartments has been cut.  The French-language newspaper La DH made a list of the tax differences between the three regions. Officallly Brussels, Wallonia and Flanders are not supposed to compete with each other by imposing lower taxes, …

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 …

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 …