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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: Box III – Real Estate

  In box III, you declare the income from any real estate you may own, that can be actual rental income you receive or the theoretical income from a second or third residence. If you only own the house you live in, you don’t need to declare anything at all, unless you rent out part of your house. If you have a second residence, you …

TEP-talks

TEP-talks

EU officials: An Introduction to Taxes 21 April 2022 @ 18:00  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 12 states that the remuneration they receive from the European Institutions is exempt from national taxes in the Member States. The exemption of the remuneration paid by the international institutions …

Buying a house at 3% in Flanders

The purchase tax on buying a property is a registration tax, that is a tax due when the notary’s deed is registered with the Ministry of Finance. Traditionally, the purchase tax was 12.5%, but a few years ago Flanders reduced the standard rate to 10% with a reduced rate of 6% for first time buyers. Since 1 January, the standard rate has gone back up …

Inheritance tax return: the value of real estate

When a Belgian resident dies, his next of kin have four months to file an inheritance tax return. They usually do this together, but they can do this separately as well, usually when they disagree.  In practice, they call upon a notary to help them file the inheritance tax return, but that is not obligatory, not even when the deceased owned real estate. We cannot …

How do you tax overseas real property …

… without infringing European law? After the European Court of Justice ordered Belgium to change its rules on the taxation of overseas properties and to pay a penalty of €2 million and a daily payment of €7,500 (for prior coverage see here). Finance Minister Vincent Van Peteghem rolled out an ambitious plan to set up a register of all properties held by Belgian residents all …

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New Tax Rules for Overseas Properties

The European Court of Justice has ordered Belgium to change its rules on the taxation of overseas properties and to pay a penalty of €2 million and a daily payment of €7,500 (for prior coverage see here). Discrimination of owners of overseas properties. In the case of real property in Belgium, whether that is a second residence or a buy-to-let, the tax is calculated on …

Expat Financial Affairs 2020

We will be making two presentations on wills and estate planning at the annual Expat Financial Affairs event of the British Chamber.
The first is for ‘pre empty nesters’
The second presentation is for youthful retirees.

Webinar ‘Expat Estate Planning’: the Questions

On 26 November, we participated in a webinar on estate planning for expatriates. This is always an interesting event to hear the questions expatriates have.
These are their questions with our answers.

Investing in UK real property?

With the Stamp Duty holiday available until 31 March 2021, it may be worthwhile to invest in real property in the United Kingdom. To help buyers who have taken a financial hit due to the Covid-19 pandemic, the Stamp Duty nil rate band in England and Northern Ireland has been increased to £500,000. As a result, it is reported that the UK property market activity …