Tax & Legal Update
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.
Double taxation treaty with Belarus partially suspended
The Ministry of Finance has announced that the implementation of a part of the Treaty with Belarus shall be suspended in the period from 1 June 2024 to 31 December 2026.
New withholding tax rules
The Council of the EU has approved new rules on the application of withholding tax on dividends and interest (the FASTER Directive), but their effectiveness has been postponed until 2030.
Another call for support for photovoltaics announced
Since 15 May 2024, it has been possible to submit applications for subsidies under the RES+ Call No. 2/2024 – Photovoltaic power plants with a capacity of more than 1 MWp, within the Modernisation Fund.
Subsidies for energy saving measures
On 10 May 2024, the Ministry of Industry and Trade announced the second call under the Energy Savings Programme (OP TAC). The call supports activities consisting in energy savings in enterprises, including the reduction of energy consumption of real…
Fuel sales: new GFD interpretation of windfall tax
The Czech Statistical Office has updated the classification of activities according to the CZ-NACE. This may affect the scope of payers of windfall tax relating to the sale of fuel.
New rules of work through digital platforms under way
The European parliament has approved the text of a directive on improving working conditions in platform work. The main aim of the directive is to improve the working conditions of platform workers, regulate the way platforms use algorithms, and…