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A law was recently approved modifying the rules relating to the federal target group reduction for first recruitments from 2024. A target group reduction is a reduction in employer’s social security contributions. The restriction that has been introduced has two components.

Personal tax is levied through withholding taxes; a final settlement then takes place on the basis of the assessment notice, which shows whether additional tax must be paid or a refund is due. Most taxpayers are aware of withholding tax, which is deducted from the taxable remuneration of employees and business managers by their employer (company). The amount deducted is in principle calculated on the basis of a Royal Decree. The deducted withholding tax is then offset in the personal tax assessment notice against the final tax due.

Close the Gap is the life’s work of Olivier Vanden Eynde. In ‘On a roll’ he explains how crucial audits were in the growth of his non-profit organisation. Watch the video!

We are facing a new envisaged implementation date of January 2026 for e-invoicing (originally set for 2024). A similar implementation delay is also occurring in other EU member states (for example France).

With the end of the year in sight, the question often arises as to what to do with a business manager’s outstanding current account balance. We take a quick look at the consequences of a debit or credit balance.

In our video series ‘On a roll’ Kris Voet explains how CFO-as-a-service helps his business Fietsen Wildiers to grow in a volatile, competitive market.

Banks and financial institutions are changing their strategy and way of doing business to reflect the increasing impact of ESG on our society, business life and legislation. This trend results in part from a general social trend towards sustainability, with banks already paying attention to ESG – especially its environmental aspects – of their own accord. In addition, banks and financial institutions are also being forced to adjust their strategy by the European Central Bank (ECB) and the European Commission (EC), and this is having a powerful influence on banking strategy and banking activities. The Belgian government has also taken various initiatives to promote sustainability, such as the National Energy and Climate Plan and the National Pact for Strategic Investments.

During the health crisis in 2021 and 2022, the principle of recovery hours was introduced. The social partners have now reintroduced recovery hours for the period from July 2023 to June 2025. Below we briefly explain what these recovery hours entail.

The need for a bank account is obvious for most businesses. However, the proliferation of regulations to combat money laundering and fraud is leading to financial institutions being more cautious, requesting more information and ultimately often refusing to provide basic banking services.

In July, David Grusch, a former US Air Force intelligence officer, turned whistleblower and claimed that alien spacecraft have been hidden by the government for decades. Just as UFOs vary in shape and colour, there are unidentified elements inside your organisation to which you would do well to pay attention. So let’s talk about the UFOs that may appear within your own organisation this year.

When the Companies and Associations Code (CAC) was introduced, attempts were made to restrict the consequences as regards corporate tax as much as possible. This ‘tax neutrality’ has in general been achieved.

The new Companies and Associations Code (CAC) expressly states that directors cannot be bound by an employment contract with the company in that capacity. However, this does not mean that a director may never enter into an employment contract with the company at which he or she is a director.

Companies are obliged to file a corporate tax return on an annual basis. The general rule is that, as from the balance sheet date and irrespective of the date of the general shareholders' meeting, a period of seven months is granted to submit the return.

During the Covid 19 pandemic many cross-border workers were forced to work (at least partially) from home. Employers have meanwhile adopted hybrid working policies as employees have embraced working from home. In a cross-border situation, this has a significant impact for income tax and social security purposes that requires a well-guided approach. Time for an update.

Benefit in kind company cars 2023

Thanks to the growing awareness around ESG (Environmental, Social and Governance), the decision-making process of companies is increasingly influenced by matters like energy consumption, climate, health, safety and good corporate governance. ESG seeks for an equilibrium between financial economic results, transparency, social interests and the environment without losing the balance between them. It should therefore be no surprise that also the tax authorities are stimulating tax payers (more specifically companies) to greening their company car fleet by allowing a higher tax deduction for so-called ‘green cars’ and disallowing the deduction of ‘fuel cars’ going further. Next to the tax impact, the greenification of the company car fleet offers opportunities to create added value for companies, climate and their people from an innovation perspective.