Non-doms, what’s in a name

By a bizarre twist of events, while Rishi Sunak, the Chancellor of the Exchequer introduced an increase of the national insurance contributions, it came to light that his wife, Akshata Murthy has non domicile status and avoids an estimated £20 million in taxes in the United Kingdom. She is the daughter of N. R. Narayana Murthy, the founder of the Indian IT multinational Infosys, and …

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 …

Hosting Ukrainian refugees, and taxes?

On 23 March 2022, The Belgian Federal Service for Finance has issued clarifications on the tax consequences of hosting Ukrainian refugees who have fled their country following the invasion by Russia.  The main clarifications are Hosting refugees at home (for free!) does not impact the tax regime of your home. An owner-occupied house continues to be fully tax exempt for income tax purposes. Moreover, the …

What does the taxman want to know about my overseas property?

The Belgian tax authorities have given in to the ECJ. Now they want to give a cadastral revenue to your overseas properties. Do you want some help. For years, the Belgian tax authorities had different rules to tax the rental income for properties in Belgium and for properties outside Belgium. Three times, the European Court of Justice had to tell Belgium to change its rules …

The tax deduction for alimony payments

The Court of Justice of the European Union has rendered a decision that will give more non-residents a personal allowance, an allowance for dependent children and the right to deduct the alimony or maintenance they pay. Belgian residents can deduct 80% of the alimony or maintenance payments they made during the year (Article 104 ITC 1992 if they meet the conditions following conditions : they …

The art of writing a tax-efficient Will

A Will is a useful tool for tax planning, in fact, it is the first and last tool for tax and estate planning. Getting the Will right is important. Since no inheritance tax is due on the family home between husband and wife and between registered partners, it can be advantageous to leave the family home in full to your spouse or partner. But then …

The Inpatriate Tax Regimes – Who wins? Who loses out?

In 2022, Belgium introduces an Inpatriate Tax Regime for workers coming to work in Belgium. This webinar will explain where we come from, and the conditions and benefits of the new tax regime for inpatriates. The new regime will simplify the procedure to obtain the benefit of the new regime. In short, it will be a simple allowance of 30% on top of the inpatriate’s …

Estate planning without children

When you do not have any children, estate planning gets a bit more complicated When we think of estate planning, we think of a family with two parents and two children. The reality is often quite different. The inheritance tax rates for siblings, nieces and nephews, or family friends are easily twice the rates for children and parents. How can we make our estate planning …

The Art of the Gift

n Belgium, one way of planning one’s estate is to make gifts during one’s lifetime. If gift tax is paid, no further inheritance tax will be due. Gift tax is due on all gifts before a notary. However, it is not obligatory to make gifts of movables before a notary. Hand-to-hand gifts and bank gifts are valid and exempt of gift tax. Nonetheless, the donor …

Mort Subite, an expatriate dies in Belgium ….

Estate Planning for Expatriates If you came to live in Belgium for work or love, you may have discovered that things are different from what you are used to at home. Things can also get a little bit more complex in other circumstances – for example if you are about to inherit from your parents, have a holiday home in Italy and France and bank accounts …