Communication is key. Starting the conversation during your lifetime and making clear agreements with your heirs will in many cases mean that conflicts are avoided. In this article, we look at a number of tools for starting the conversation and documenting a number of agreements in a family context.
“Discover how to calculate the taxable benefit in kind (BIK) for company cars for the 2025 income year. Use our handy tool and understand the flat-rate valuation of your BIK.”
The importance of corporate compliance: peace of mind in a complex legal landscape
How do you prepare your business for Brexit? Stay informed about what changed on January 31, 2020, and what it means for you and your business.
At the start of the COVID-19 crisis, the federal and regional governments immediately implemented a number of tax (and other) measures. Those first measures were mainly focusing on preventing any cash flow problems for companies and for the self-employed. On the long term however, not only the (lack of) cash flow causes issues. The impact of the current crisis goes far beyond cash flow and it is certain that it will take several years before the impact of the economic crisis will be digested.
Employers will, most likely, make sure that employees can work from home. For employees working from home temporarily due to the Covid-19 crisis, a tax-free cost allowance can be paid in exemption from social security contributions. This allowance covers all kinds of small costs associated with home working. No specific home working agreement is required to pay it.
Given that the organization of physical meetings has become a challenge as a result of the current security measures taken by the National Security Council to combat the Covid-19 pandemic, some measures have been taken by the Minister of Justice to address this issue. The Proxy Decree of April 9, 2020 (Royal Decree No 4 of April 9, 2020 containing various provisions on co-ownership and company and association law in the context of the fight against the Covid-19 pandemic) temporarily introduces a number of flexibilities and options with the intention of giving legal persons the necessary flexibility while respecting the rights of shareholders. In the Royal Decree of April 28, 2020, it was decided to extend the time limits of the measures from May 3, 2020 to June 30, 2020.
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial statements and approving them for issue need to be cognisant of not only what has happened and is happening at the reporting date and the time the financial statements are approved, but also what is likely to happen next.
How does the Covid-19 crisis challenge your transfer pricing policy? What actions should be taken “now” to limit transfer pricing liabilities over 2020?
In a short period of time COVID-19 has significantly changed everyone’s life. Given the scale of the current crisis, both the federal and regional governments have already taken numerous measures. Undoubtedly, questions will raise about the impact on inheritance and donation tax during these unprecedented times. We have aligned a few of these governmental measures as well as possible alternatives.
How a tax shelter investment can be a solution to anticipate the uncertain financial results of your company due to a negative impact of the Corona crisis and how such tax shelter investment can reduce the net cash flow impact of corporate tax prepayments?
With the rising impact of COVID-19 being seen worldwide, all industries will face significant disruption to their supply chain, workforce and cashflow. The right response will depend on the specific circumstances you and your business face. However, when experiencing significant stress or distress, we recommend you focus everything you do around the management of cash.
On 29 March 2020, several “proxy decisions” were taken by the Minister of Justice, Koen Geens. One of these proxy decisions contains measures for general meetings and meetings of administrative bodies. These decisions take the 19th of April as the provisional end date, but this date can be extended by the King if the general measures against corona were to be extended. These proxy decisions are currently pending before the Council of State for urgent advice and will probably not enter into force until around 8 April 2020.
The economic consequences of the Coronavirus disease 2019 (COVID-19) on future trading assumptions, and the direct impact on many companies, may place some companies under liquidity pressures. We understand these pressures and have compiled some tips for managing cash flow and mitigating any potential impact on your debt obligations.
The Federal and regional governments have recently adopted measures to combat the corona crisis (Covid-19 virus). Considering the extent of the crisis, a large number of businesses are at risk of financial difficulties. The various support measures should serve to mitigate its economic impact. The main federal and regional support measures are listed and explained below.
The new FAQ on the UBO register has been published on 2 April 2019, clarifying some previously unclear situations.
UBO-register: deadline postponed until 30 September!
The recently published Administrative Instructions for the third quarter of 2018 show that the NSSO provides an expanded interpretation of the concept of "wages" for the levying of social security contributions. The NSSO fills in the term 'at charge of the employer' more broadly. Advantages that are awarded by a third party, which is not the employer, directly to employees, without any intervention of the employer, can nevertheless be regarded by the NSSO as wages. Hereinafter we outline the terms "wages", "at charge of the employer" and the consequences of the extended interpretation.