Government measures in key jurisdictions 2nd edition final pages - Flipbook - Page 14
Belgium
7
Tax
In Belgium, the federal and regional governments have provided many tax supports
measures. At the federal level:
Has any new
•
legislation been
introduced in light
of COVID-19?
Federal Public Services Finance can foresee repayment schemes for existing
fiscal debts for businesses that find themselves in difficulties due to the COVID-19
outbreak. It applies to withholding tax, VAT, personal income tax, corporate tax and
legal entities tax.
•
Companies with a balance sheet date from 1 October 2019 up to and including 30
December 2019 have a new deadline of 7 months as from the balance sheet date, for
filing the declaration for corporate tax, legal entities tax, and non-resident tax.
•
Deferment of VAT-declaration and intracommunal statements filing.
•
Deferment for the payment of VAT, personal income tax, corporate tax and payroll
withholding tax.
•
VAT rate of 6 % on the supply, intra-community acquisition and importation of
protective equipment from 4 May to 31 December 2020.
•
COVID-19 virus should be considered as an exceptional circumstance justifying the
exemption of a write-down on a trade receivable.
•
According to Circular 2020/C/46 with respect to qualifying donations:
– no VAT on donations of medical supplies to hospitals,
– for natural persons: tax reduction for gifts,
– for companies: deduction as professional expenses, and
– for self-employed persons: deduction as professional expenses.
•
AcceleratedVAT refunds for all monthly VAT declarations of February and March
2020, submitted up to and including 3 April and 3 May 2020.
•
Deferment for the payment of the special VAT declaration 629.
•
Modification of the prepayment rates of income tax.
•
Tax shelter film and theatre: extension of the period within which the producer must
incur expenditure in order to meet the conditions for the “tax shelter” for audiovisual
works and performing arts.
•
Non-taxable telework compensation up to 129,48 EUR per month to cover costs like
electricity and small office supplies.
•
The Belgian federal government proposes two optional powerful tax measures in
response to the COVID19-crisis:
– carry back of tax losses of companies: deduct the loss of FY2020 from the taxable
profit of FY2019, and
– reconstruction reserve in order to improve the solvency of companies in the longer
term.
•
Exceptional teleworking measures for cross-border workers due to COVID-19 virus:
– the presence of cross-border workers Belgium – Luxembourg in their place of
residence will not be taken into account for the calculation of the 24-day period,
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Government measures in key jurisdictions