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Euro Tax Flash 366 - ECOFIN formally adopts new Mandatory Disclosure Requirements for Intermediaries and Taxpayers - entry into force expected June 2018

On May 25, 2018, the most recent amendments to the Directive on administrative cooperation in the field of taxation (“DAC 6”), which introduce mandatory disclosure requirements for tax intermediaries, were formally adopted by the Economic and Financial Affairs Council (ECOFIN). The publication of the Directive the Official Journal of the European Union is expected shortly. The importance of this is that these new mandatory disclosure rules will enter into force twenty days after the publication in the Official Journal, therefore most likely in June 2018. Member States have until December 31, 2019 to change their domestic law, which will be applicable from July 1, 2020. However, intermediaries and relevant taxpayers will also be required to disclose information on reportable cross-border arrangements, the first step of which was implemented between the date of entry into force of the Directive and the date of application of the Directive (July 1, 2020). This information should be filed by August 31, 2020.

Belgium – Compensating taxes due where stock options are under water

Following the Law of 26 March 1999 (“Stock Option Law”), stock options offered in writing and accepted in writing within 60 days following the offer are taxable at grant.(1) However, if the options go “under water,” the employee has no possibility to recover taxes paid at grant. A recent ruling now allows that if the options are under water, the employer can compensate the emp ...

Tax treaties (2018) (*)

Albania Hungary Poland Algeria Iceland Portugal Argentina India Romania Armenia Indonesia Russian Federation Australia Ireland Rwanda Austria Israel San Marino Azerbaijan Italy Senegal Bangladesh Ivory Coast Serbia Bahrain Japan Singapore Belarus Kazakhstan Slovakia Bosnia-Herz. Korea (South) Slovenia ...

Social security contributions (2018)

Employees (White-collar) Employer's contributions: 25% Employee's contributions: 13,07% Self-employed Max. €15.920,00 Companies €347,50 €868,00 if balance sheet total > €681.341,33 ...

Monthly contribution CO2 on company cars (2018)

Vehicles with petrol engine: [(Y x 9) - 768]: 12 x 1,2708 Vehicles with diesel engine: [(Y x 9) - 768]: 12 x 1,2708 Minimum monthly contribution: €26,47 Y = CO2 emission in gram per km ...

Tax on placing new cars in circulation (2018)

Fiscal horsepower (*) KW (*) Amount of tax (€) 0-8 0-70 61,50 9-10 71-85 123,00 11 86-100 495,00 12-14 101-110 867,00 15 111-120 1.239,00 16-17 121-155 2.478,00 More than 17 More than 155 4.957,00 (*) Whichever is higher A special regime applies to second-hand cars Walloon Region: Flemish Region: To increas ...

Value added tax (2018)

Rates: 0, 6, 12 and 21% Non taxable legal entities, wholly exempted businesses, "flat rate" farmers and small businesses: acquisition threshold = €11.200,00 Quarterly filing of return (optional): annual turnover ≤ €2.500.000,00 Deduction of VAT on car costs for business use (maximum  50%) Monthly filing of return: annual turnover > ...

Registration duties (2018)

Acquisition of real estate: - in Flanders: 7 - 10% - in Brussels and Walloon Region: 12,5% Capital duty : €50,00 ...

Company law (2018)

Average number of employees Turnover Balance sheet total Microscheme (*) ≤ 10 ≤ €700.000,00 ≤ €350.000,00 Condensed annual accounts (*) ≤ 50 ≤ €9.000.000,00 ≤ €4.500.000,00 Complete annual accounts (*) > 50 > €9.000.000,00 > €4.500.000,00 Consolidated annual accounts (*) > 250 (consolidated) > €34.000.000,00 (consolidated) > € ...

Personal income tax (2018)

Rates (income year 2018) (1) Income (€) Rate (2)     0 - 12.990,00 25% 12.990,00 - 22.290,00 40% 22.290,00 - 39.660,00 45% more than 39.660,00 50% (1) - Zero-bracket amount : €7.430,00 for each taxpayer - Additional tax-free allowance for dependent children: 1 child : €1.580,00 2 children : €4.060,00 3 children : €9.110,00 4 ch ...