In an April 8 decision, the Belgian Supreme Court settled a long-running debate over the distinction between business entertainment expenses and business promotion expenses.
Under article 45, section 3 of the Belgian VAT Code, a VAT payer can recover the VAT on all business expenditures except business entertainment expenses. However, the distinction between business entertainment expenses and business promotion expenses has long been a gray area. (Read the article …)
Sometimes you have to disagree with your tax inspector. This gives a short summary of how to do it. (More …)
The double taxation agreement signed between Belgium and Hong Kong in 2003 is a good conduit for repatriating profits between Europe and Hong Kong, or for financing investments in Europe or in the Far East. With the publishing of an administrative note, the Belgian tax authorities have highlighted the strengths of the treaty, and Belgian Finance Minister Reynders is proud to present this new treaty as the â€œgatewayâ€? between Europe and the Far East.
This article explores various strategies using the current income tax treaty in force between Belgium and Hong Kong. Those strategies include creating holding company structures and other arrangements to repatriate profits between Europe and Hong Kong and to finance investments in both Europe and the Far East. (Read the article …)
In a March 31 administrative note, the Belgian Ministry of Finance has clarified some issues in the Belgium-Hong Kong double tax treaty that are relevant for the repatriation of profits to Belgium.
The administrative note makes the treaty an interesting conduit to repatriate profits from the Far East to Belgium, as a Belgian company can repatriate profits without any major withholding tax in Belgium or Hong Kong. (Read the article …)