February 2024 - Inventory management costs money. But those who are smart in the warehouse can reap commercial benefits from it. In Belgium, the cost of stock for the average SME is estimated at 15 to 20 per cent of the financial value of the stock. Yet, the stock is indispensable in many cases. For three reasons: Fast delivery increases your service. ➤
February 2024 - Whatever business you are in, at the end of the financial year, only one thing counts: the amount below the line. The financial management of your business, therefore, deserves full attention. An ERP system brings insight into your data and figures. The basis of sound financial management is up-to-date accounting. An ERP… ➤
February 2024 - The start of a new year always has a number of tax novelties in store. In 2024, too, you can expect a number of changes in corporate tax. Which changes should you take into account?
Statutory filing deadlines
As is its annual custom, the FPS Finance informs taxpayers of the tax... ➤
February 2024 - In 2024, you should consider some new HR measures for employers and employees. In this article, we list some of the critical changes.
Extension of date for presentation of purchasing power premium
Through the RD of 23 April 2023 on the purchasing power premium, well-performing companies can grant a one-off purchasing power premium… ➤
February 2024 - Until the tax year 2023, non-profit organisations, international not-for-profit organisations (NPOs) and private foundations were subject to a 0.17% tax on the value of their assets (albeit with an exemption of a first tranche of EUR 25,000 of assets). Since 1 January 2024, a reformed rate… ➤
June 2022 – On 3 April, the Flemish Tax Administration (Vlabel) launched the new "ERFonline" application. ERFonline allows you to complete and send an inheritance declaration online. A major step forward. ERFonline is one of the platforms for exchanging information with the public authorities. You can access it… ➤
June 2022 – Sanctions and fines are generally not deductible. Not even if they are related to the professional activity. This non-deductibility was introduced in order not to dilute the effect of the sanction. Transactions, however, seemed not to be subject to this rule. But things change in 2022. The non-deductibility of fines is described as… ➤
June 2022 – The Companies and Associations Code (CSA) provides that limited liability companies (BV/SRL) may provide in their articles of association for the possibility of resignation and exclusion. The Commission des normes comptables (CBN/CNC) has now commented on the accounting treatment of the resignation… ➤
June 2022 – As part of the social agreement of 2021, it was agreed to increase the number of voluntary overtime hours that could be worked without extra pay from 100 to 220 in all sectors. The additional 120 hours of voluntary overtime are known as stimulus hours. You can still use them until the end of 2022. Although applicable since 1 July 2021, this social agreement was not cast… ➤
June 2022 – The name of your company as a number plate on your vehicle... Great publicity. It's possible for 1,000 euros. But what does the taxman think? Did you know that by the end of 2021, 11 021 personalized plates were already reserved? This compares with 7 976 in 2020 and only 5 949 in 2018. The rules of the game are relatively simple… ➤
June 2022 – Salary cars are subject to a special VAT regime. And a particularly complex one at that. When Covid-19 changed the way we work, the tax authorities granted tolerances. The tax authorities are now reversing their position, but in order to cancel these tolerances, a new tolerance is needed. If you provide your employees with a company car, which they can also use for private… ➤
June 2022 – Anyone who owns a property together with another person can end this joint ownership by leaving the joint ownership. Depending on where the property is located, the sharing duty amounts to 2,5% in Flanders or 1% in the other two regions. However, if you are a co-owner with your own company, you pay a sales tax of 12% or 12.5%. ➤
May 2022 – The government has introduced, through the programme law passed at the end of 2021, a new accountability levy for employers faced with an excessive flow of workers on disability. In October 2021, the federal government published an action plan to reduce the number of long-term sick. To achieve this goal… ➤
May 2022 – In public limited companies and limited liability companies, directorships cannot be combined with an employment contract. However, a person can be an employee and a director at the same time. How can this be explained? A company director may not be bound to the company by an employment contract. ➤
May 2022 – The parliamentary committee for the reform of liability law has recently proposed a draft bill to reform extra-contractual liability in the Civil Code. What does this draft law provide for in relation to legal persons who commit wrongful acts? What is meant by extra-contractual liability? Broadly speaking, it is the liability incurred by natural or… ➤
May 2022 – The law of 2 August 2002 on combating late payment in commercial transactions was amended in 2021. The new rules came into force on 1 February 2022. What should we remember? The law of 2 August 2002 only applies to commercial transactions. A commercial transaction is any transaction between companies or between companies and public… ➤
May 2022 – In mid-March, the Commission des Normes Comptables/Commissie voor Boekhoudkundige Normen (CNC/CBN) published a new version of its opinion on the size criteria for small companies. This document is of some interest. The term "SME" is traditionally used to refer to a small enterprise. The "M" refers in principle to medium-sized companies, but... ➤
May 2022 – If you have work done on your home, you can benefit from a reduced VAT rate provided the building is at least ten years old. However, the work must affect the residential building itself and may not involve the installation of a gate to your driveway. A contractor carries out building work that consists more specifically of the… ➤
May 2022 – Since 2016, you can benefit from a not insignificant reduction in employer social security contributions for the first six engagements. Several changes went into effect earlier this year. Until 2021, you could benefit from a total exemption from basic contributions for the hiring of a first worker. Until 2021, you could benefit… ➤
May 2022 – For an entrepreneur, the coefficient of revaluation of the cadastral income (CI) is relevant in two specific situations: when he rents a dwelling to a company, as an individual, and when he rents a dwelling to his own company, as a company director. The revaluation coefficient is recalculated every year. ➤
May 2022 – In the FAQ (frequently asked questions) concerning the calculation of the benefit in kind related to company cars, the tax authorities have devoted a question/answer to company cars adapted to an employee's disability. An update was published in mid-March. As such, the advantage linked to the provision… ➤
May 2022 – For many companies, finding competent employees is not an easy task. Many of them, therefore, grant a recruitment bonus to employees who introduce a new employee to them. The Tax Ruling Commission has recently published a decision concerning the tax regime applicable to this recruitment bonus. ➤
April 2022 – Special directors' liability does not apply to directors of small bankrupt companies. But who has to prove that the company is small? The creditors/guardians? Or the directors/managers? The Court of Cassation ruled at the end of 2021. In the event of a loss-making bankruptcy, it is obviously in the… ⟶
April 2022 – Since 1 June 2003, all deeds of legal persons (associations, companies and others) are published in the "Annexes du Moniteur belge". The amount of the publication fee is usually increased on 1 March and this is the case this year as well. The following documents must be published in the… ⟶
April 2022 – On 9 November 2021, Belgium and France signed a new double taxation agreement. The text of this agreement still needs to be adopted by the parliament. A double taxation agreement determines which country can tax which income. The old agreement between Belgium and France dates from 1964. ⟶
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