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 …

Capital Gains

As a matter of principle, Belgium doesn’t tax capital gains if they are made by way of “normal management of private wealth”. Private wealth is anything that you don’t use for your job or for professional purposes. And the normal management of your private wealth is what you do to keep your wealth growing safely, without speculating. Speculation would be e.g. borrowing to get leverage …

Tax Return: Box XIII – Trusts

You have to confirm whether you have set up a legal arrangement (a “construction juridique”) or whether you are the beneficiary of such a legal arrangement. This is a difficult word for a trust, a foundation, or an overseas company in a tax haven in which you accumulate income tax-free. Cayman tax If you have such a legal arrangement, you must also declare the interest …