A decision of the Court of Justice of the European Communities of 8 June 2004 should make the mergers and acquisitions of Belgian companies easier and possibly cheaper. (Read the article …)
In 2002, Belgium introduced a tax concession for investments in Belgian audio-visual work. This tax shelter has just been made more attractive by a law of May 17 2004.
The tax shelter offers a 150% income tax exemption for investments in the production of Belgian film and documentaries. The provisions of the new article 194ter of the Income Tax Code came into effect in the 2004 tax year, but they failed to convince investors. To reassure potential investors that they would not lose their entitlement to the tax exemption all too easily, eight members of Parliament introduced a draft bill adapting the legislation. This article is a description of the concession. (Read the article …)
Belgium has introduced a Private International Law Code, and for the first time, Belgian law deals with trusts. Trusts have always been an unknown quantity in Belgian law. How are they taxed ? (More …)
On 8 June the European Court of Justice issued a reasoned order in a preliminary ruling sought by the Antwerp Court of First Instance on the compatibility with EU law of Belgium’s capital gains tax on the sale of a substantial participation in a Belgian company to a foreign entity (De Baeck v. Belgian State (Case C-268/03)). The Court found articles 67(8) and 67 ter of the Belgian Income Tax Code (ITC) 1964, which govern that taxation, to be incompatible with the principles of freedom of establishment and free movement of capital, as established in the EC Treaty. (More …)