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Government increases bonification of corporate tax prepayments made during Q3 and Q4

In response to the Covid-19 outbreak, the Belgian and regional governments have taken several measures in the past weeks to mitigate the financial and economic effects of the temporary lock down. The latest measure of the federal government relates to corporate tax prepayments.

Companies will benefit from an increased bonification for prepayments related to assessment year 2021 which are made during

- Q3: 6,75% instead of 6% and

- Q4: 5,25% instead of 4,50%

provided there is

- No dividend distribution between 12 March and 31 December 2020

- No capital reduction or repurchase of shares

The percentage of the increase and the due dates do not change. The case of companies not closing on 31 December is still being considered.

More information is available on the website of the tax authorities (NL / FR)

The current circumstances affect companies and businesses in many ways. While it is important to understand the various measures taken by the government, it is also important to consider the broader tax and legal ramifications of this unprecedented situation in order to anticipate future evolution and the economic reality after Covid-19.

Our KPMG experts are continuously monitoring the developments and share current insights and useful overviews on our dedicated website. Please visit our website for more information or do not hesitate to contact us.

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Jos Goubert

Tax Knowledge Dept.

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