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FSI Tax Alerts
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Belgium enacts specific tax framework for European long-term investment funds
22 February 2022
Legislation enacting a specific tax framework for European long-term investment funds (ELTIFs) was published in Belgium’s official gazette on 28 January 2022 (Dutch | French) as part of a law containing various tax provisions and applies as from 7 February 2022.
FAQs on implementation guidelines for new annual tax on securities accounts issued
22 October 2021
The Belgian tax authorities on 7 October 2021 issued administrative guidelines (Dutch I French) in the format of frequently asked questions (FAQs) relating to the implementation guidelines for the new annual tax on securities accounts (TSA) introduced as from 26 February 2021.
Tax on securities accounts - Compliance process for financial intermediaries clarified, but potential annulment is lurking around the corner
30 August 2021
Clarification of Belgian VAT regime for underwriting agents
26 September 2017
On 20 September 2017, the Belgian VAT authorities published a Circular Letter clarifying the current scope of exemption for insurance services with respect to underwriting agents. It also discusses conditions under which claims handling services performed by underwriting agents can benefit from the exemption in article 44 §3 4° Belgian VAT Code (Circular Letter 2017/C/60 dd. 20 September 2017; Dutch | French).
VAT cases in CJEU: Cost Sharing Groups red carded in banking and insurance sector
22 September 2017
The financial services industry held its breath on 21 September 2017, when the Court of Justice of the European Union (CJEU) rendered its judgments in the VAT cases involving DNB Banka (C-326/15), Aviva (C-605/15), and EC vs. Germany (C-616/15). The Court ruled that the VAT exemption for cost sharing groups cannot apply in the banking and insurance sector. With this judgment, the Court goes against accepted practice in many Member States, including Belgium. Importantly, the Court clearly prohibits Member States from applying the judgment retrospectively.
Ruling Commission’s Board temporarily not operational
5 May 2017
As covered by the press on the morning of 5 May 2017, the Ruling Commission’s Board is not operational until further notice.
This is due to a decision by the Council of State dd. 28 April 2017 annulling the appointment of the three French-speaking Board members, Matthieu Bataille, Serge Riga and Véronique Tai. This decision was triggered by an appeal introduced by José Vilain, a former member of the Board. This decision does not affect the appointment of the 3 Dutch-speaking Board members, Steven Vanden Berghe, Guy Giroulle and Luc Saliën.