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 12Â 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 is a standard provision in the Seat Agreements Belgium has signed with all international organisations that have a seat in Belgium.
Article 13Â determines where EU officials have their tax residence.
The deemed tax residence is specific for the European Union and it is often misunderstood.
To cause the least disruption for EU officials, article 13 introduces the principle of the deemed tax residence.
Filing a tax return in Belgium, a doddle?
19 May 2022 @ 18:00
Whether it is your first time filing a tax return or not, filing a tax return always has something frightening.
Don’t procrastinate …
The brown envelope has hit your letter box. You need to file your tax return by the end of June, and if you file online, you have another two weeks.
It’s tax return time … again
Whether you are new to Belgium or have been filing your tax return here for years, you may have a number of questions. We will address some of these questions and we will address some other questions you didn’t know you had.
This links in with The Bulletin’s fully updated guide to filing your return.
This is an interactive event, where you can ask your questions. If you have any questions or suggestions that may be useful to address during the presentation, please feel free to do so by clicking on [contact] below.
Estate Planning for EU Officials
26 May 2022 @ 18:00
EU officials are deemed have kept their tax domicile in the country where they were recruited That makes estate planning a bit more complex
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 13 determines where EU officials have their tax residence. The deemed tax residence is specific for the European Union and it is often misunderstood.
When the first EU officials moved to work for the institutions, they realised that they had to give up their tax residence. They would become resident in the country where they lived. One of the basic principles of international tax law is that you are a resident in the country where you live and have the centre of your vital interests (we used to say that you had your residence where you have your dog, your slippers and your newspaper. In that country you are liable to income tax, capital gains tax and inheritance tax on your worldwide assets.
To cause the least disruption for EU officials, article 13 introduces the principle of the deemed tax residence for income tax, for inheritance tax and for the wealth tax.
International Divorce in Belgium, and taxes
16 June 2022Â @Â 18:00Â
Living in Belgium if you are not Belgian brings its worries. And when your partner decides to call it a day, how do you deal with a divorce?
Life in Belgium is often quite different from what you are used to at home. Adapting to work, getting the children to school, settling in … it takes some time, but after a few months or years, you feel at home.
And then your spouse or partner says : “we need to talk …”.
A deep, paralyzing sorrow gives way to denial. Anger is the next powerful emotion, that can lead to bargaining and often a depression before there can be any acceptance. And you cannot understand how your partner has already come to the inevitable end: a divorce.
It is on this awful rollercoaster of emotions that you will be asked to make decisions that will change your life, that will have an influence of the children’s further life, on your finances, …
This is where you find yourself all alone.
A good lawyer helps you see clear, navigate the obstacles and make sound decisions.
Eliane Kengo is a lawyer with years of experience in guiding clients through a divorce. She will explain how divorce works in Belgium, for international couples with different backgrounds. What are the stages: set up separate homes, do you go for negotiation or litigation, in Belgium or at home? What are the setbacks you may encounter and what fallback situations are there for a good negotiation?
Marc Quaghebeur is an international tax lawyer with years of experience in cross border estate planning. How do the taxes work for alimony, for the maintenance for the children, and what if your partner is travelling the world and has the expatriate tax status, … ? Sharing your wealth upon a divorce also brings its own issues, in particular if you move back home.
These are the questions our speakers will be presenting with some practical cases from their years of experience in helping partners settle their differences.
Trusts, Trust Deeds, … in Belgium ? … Definitely not?
23 June 2022 @ 18:00
Belgian law does not have trusts, but they are not an unknown notion in Belgium. However, how does Belgium cope with trusts?
Trusts are a typically Anglo Saxon notion. And when you are British, Irish, American, Canadian, … you will have come across trusts, you may have set up a trust, you may be a trustee yourself or you may be the beneficiary of a trust.
You may have an IRA, an ISA, a SIPP, a QROPS, … all of these are set up with a trust. You may have taken out an insurance wrapper and set that up with a trust. You may have a will and appointed someone as your executor and trustee. Your company pension may be in a trust…
Those are only some of the examples where trusts are used.
But how is such a trust dealt with in Belgium ? Belgian law does not have trusts, but they are not an unknown notion in Belgium. However, how does Belgium copes with trusts?
Not too well. What’s more, they are often seen as ways of avoiding tax. Belgium understands that there is something in a trust, but is reticent to just acknowledge them, and the Cayman Tax is just one expression of that reluctance.
Retirement Planning for Expatriates in Belgium
30 September 2022Â @Â 18:00Â
Retirement planning is a process that evolves over time, and it doesn’t stop when you retire. Let us help you take some important decisions.
Retirement planning is a process with many steps that evolves over time.
To have a comfortable, secure – and fun – retirement, you have to build the financial cushion that will fund it all. To get to the fun part, you need to pay attention to the serious, the boring planning how you’ll get there.
Your employer, your bank, your financial advisers have helped you build that financial cushion. It is time to take your pension, look for a place to retire and take a few decisions that will ensure that you can retire with your peace of mind.
What about your state pension, in Belgium or abroad? How much will you get, and how much tax will you pay?
In Belgium, company pensions are built up to be drawn down at retirement. In other countries, you can draw down a part of your pension, tax free, the rest is used to give you a monthly pension. How does that work in Belgium?
Retirement Planning Doesn’t Stop When You Retire
You have your savings, real estate in Belgium and abroad, and money in the bank? How do you invest those in a tax efficient manner?
And you may have thought about retiring back home, or somewhere under the sun, … do you move there (tip: try it out for at least six months). Or do you keep Belgium as your main residence?
Wherever you go, you may want to think about planning your estate and planning your succession. Each country has its own inheritance rules and its own inheritance tax rules.
You do not need to go to Austria, Estonia, Malta, Romania, Sweden to avoid inheritance tax. There are always solutions.
In the middle of complexity lies opportunity.
Even Belgium can be a tax haven if you know how.
Estate planning for Dummies
15 September 2022 @ 18:00
For those who think that estate planning is all about avoiding or minimising the inheritance tax.
It is that as well but much more.
Estate Planning is also
- about planning for young children
- about making sure that what you have goes to who you want,
- about making sure that the children do not get your estate too early
- about defusing family conflicts
- about managing your finances when you can’t anymore
- about lasting powers of attorney
- about living wills
and so much more. - about planning for young children
- about making sure that what you have goes to who you want,
- about making sure that the children do not get your estate too early
- about defusing family conflicts
- about managing your finances when you can’t anymore
- about lasting powers of attorney
- about living wills
and so much more.
Estate planning with Wills
15 September 2022 @ 18:00
A Will is a useful tool for tax planning, in fact, it is the first and last tool for tax and estate planning.
Getting your 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 children may pay more inheritance tax.
Another useful planning technique is to skip a generation by making bequests directly to grandchildren, spread the estate over as many people as possible and reduce the inheritance tax.
These are just some of the planning techniques that will be discussed during the presentation.
Paying less inheritance tax is one of the reasons to make a Will, there are many more (give to charity, make sure your children do not get access to the money too early, protect your wealth against an evil son or daughter-in-law, …)
Estate planning with Gifts
15 September 2022 @ 18:00
For Belgians, gifts have always been a favourite way of planning their estate. What you do not have anymore cannot attract inheritance tax.
In Belgium, one way of planning one’s estate is to make gifts during one’s lifetime.
If gift tax is paid, no inheritance tax will be due later.
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 has to live for another three years (and now five years in Wallonia) after the gift, if not, the gift is liable to inheritance tax.
Giving is final, there is no way back, or is there?
We will look at some clever ways of giving, with conditions, with reservation of usufruit, gifts in cascade, …