New Tax Measures under the Programme Law

The Programme Law of July 1 introduced a number of fiscal measures, including transfer pricing documentation in line with action 13 of the OECD’s base erosion and profit-shifting project and measures to combat tax fraud. To read more, click here.

Belgium Extends Reporting of Payments to Tax Havens

Since 2010 Belgian companies and permanent establishments of foreign companies must report in their annual tax return all (direct and indirect) payments they have made to tax havens (art. 307 ITC 1992) for a total of EUR 100,000 or more. If they are not reported, these payments are not tax deductible. When reported, such payments are only tax deductible if …

Belgium updates list of tax havens

In two Royal Decrees dated 1 March 2016 (published in the Belgian State Gazettes of 10 and 11 March 2016), the Minister of Finance has updated the list of countries which are deemed to have an advantageous tax regime. The first list relates to the participation exemption, the basis for the Belgian holding company regime. One of the conditions for the participation …

Switzerland, as a direct democracy, organises about five referendums every year.  On Sunday, Swiss voters have rejected proposals to restrict immigration and to abolish the favourable tax regime for wealthy foreigners living in Switzerland. The major issue in the referendum of 30 November was the initiative “Save Our Swiss Gold”, that would have obliged the government to increase its gold …

Belgium lists Luxembourg and Cyprus as tax havens …

… but says not to take it too seriously. The tax authorities have published an addendum to their practice note Ci.RH.421/607.890 (AAFisc nr. 64/2010) to comment on the list of states that have not effectively or substantially implemented the OECD exchange of information standard. Since 1 January 2010 Belgian companies and permanent establishments of foreign companies must report in their …

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, …

Tax Havens : the top 10

Bradley Hackford, a firm specialising in international relocation, has published its 2015 ranking of the 10 top tax havens.  The ranking is based on five criteria: the rate of tax burden on the natural persons residing in that country ; the country’s quality of life ; the country’s physical and legal security ; the quality of the economic investment programme …