Tax & Legal Update
CJEU: free-of-charge supply of heat subject to VAT
The Court of Justice of the EU (CJEU) has ruled that the supply of heat free of charge is subject to VAT whether or not the recipient uses it to carry out economic activities. To determine the taxable amount, the cost price must include both direct…
Consumers get right to have defective goods repaired
The European Parliament has adopted a directive on common rules promoting the repair of goods, which introduces the consumer’s right to repair. The new regulation aims to encourage consumers to have products repaired and thus extend their useful…
Financial services: changes to distance contracts
The European Union is modernising and simplifying the legal framework for financial services contracted with consumers at a distance. In response to technological developments, the new directive of November 2023 repeals the original sectoral…
Amendment to VAT Act 2025 in detail – Part III
We present a continuation of the overview of the most important changes contained in the draft amendment to the Value Added Tax Act. As we have already informed our readers, the amendment has gone through the comment procedure, and a version for the…
Major amendment to Code of Administrative Justice
The Code of Administrative Justice is about to undergo a significant amendment to improve the efficiency and functioning of the administrative justice system. The initial draft of the Ministry of Justice contained major shortcomings that could make…
VAT perspective on various options of providing company cars to employees
Providing company cars to employees for their private use is an increasingly common benefit. What are the VAT implications for employers when providing car to employees free of charge? Does the situation change if the cars are provided to employees…
Amendment to the Tax Procedure Code: more questions than answers
In accordance with the government's legislative work plan for 2024, the expected amendment to certain laws concerning tax administration is coming. Among them is the Tax Procedure Code, which regulates the procedure of tax administrators and the…
Senate passes Amendment to Investment Companies and Investment Funds (ICIF) Act
On 29 May 2024, the senate approved an amendment to the Act on Investment Companies and Investment Funds (ICIF) and related laws including changes to some parts of the consolidation package, in the wording as passed by the chamber of deputies. In…
What’s in the revised ViDA proposal?
On 8 May 2024, the European Commission published an updated proposal for the VAT in the Digital Age (ViDA) package, to be discussed at the June ECOFIN meeting with the aim to reach an agreement during the Belgian Presidency of the EU Council. The…
Pillar 2: Registration obligations in Belgium and UK
Work on the introduction of a global minimum tax under Pillar 2 is gaining momentum. In this context, we bring to your attention new registration obligations in Belgium and the UK.
Get ready for IFRS 18 Presentation and Disclosure in Financial Statements
New accounting standard IFRS 18, which replaces current IAS 1 Presentation of Financial Statements will be effective from 1 January 2027. It will be applied retrospectively and available for early adoption.