Tax advice tailored to the entrepreneur!
As an entrepreneur, you prefer to keep your taxes as low as possible and to arrive at the most advantageous formula for your tax return. When realizing your future plans, you also want to experience the lowest possible tax burden.
VGD can assist you in this by focusing on various aspects.
As a sparring partner, our tax experts and tax consultants are ready to support you in various areas, ranging from the purchase of real estate, restructuring & remuneration. Let's talk!
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Doing business in Belgium - Download the e-book
Also looking to set up a company in Belgium? In this handy e-book our advisors will give you all the necessary tips and important information on:
- Which type of company do I choose?
- What are the conditions for setting up a company?
- What are the employment rules you have to follow?
- What taxes do you have to pay?
- What about VAT?
Tax deductibility of company cars: WLTP or NEDC from 2021 onwards? The tax office throws more light on the matter
In the middle of 2019 the tax authorities shed some light on the matter of what values should be used to determine the tax deductibility of private cars and the calculation of the taxable benefit in kind up to the end of 2020, making it clear that both the NEDC (2.0) value and the WLTP value may be used. In most cases the latter is less advantageous, meaning that application of the NEDC (2.0) value is usually preferred.
In these difficult times, the Belgian government is making a variety of support measures available to entrepreneurs. To give companies the financial breathing space they need, the Belgian federal government has offered companies a general deferment of payment for several taxes.
Businesses increasingly tend to operate internationally or even globally. They are then tempted to shift their profits to countries with a more favourable tax rate. In times of budgetary crisis, there are obvious problems with such an approach. People have even taken to the streets to protest against the practices of the ‘tax avoiders’. As a result, Europe and the OECD have tightened up the rules. Member States, including Belgium, are now implementing the measures in their own legislation.
Anthony Meul, partner and tax advisor at VGD, explains what tax consolidation involves and what measures Belgian entrepreneurs will face.
If, as a supplier, you deliver goods or provide services, you must charge VAT on the total amount payable. In practice additional costs are sometimes charged together with the price of the delivered goods or services, such as transport costs. This raises the question, when should you charge 6% and when should you charge 21%?
Some tax-related changes have recently been made with regard to advance payments, with effect from 1 January 2019:
When a sole proprietorship is turned into a company, it is possible to sell the goodwill (e.g. the customer base) that has been built up in the sole proprietorship to the company (by means of a ‘quasi-contribution of capital’). This is only advisable if it enables the taxable party to withdraw money from the company in a tax-efficient manner.