Enviar búsqueda
Cargar
Webcast be budget2012
•
0 recomendaciones
•
732 vistas
EY Belgium
Seguir
Empresariales
Tecnología
Denunciar
Compartir
Denunciar
Compartir
1 de 52
Descargar ahora
Descargar para leer sin conexión
Recomendados
Tax opportunities - investing through the Netherlands
Tax opportunities - investing through the Netherlands
Guido Van Asperen
Legislation update and current structure developments
Legislation update and current structure developments
Infotropic Media
Corporate taxforum
Corporate taxforum
EY Belgium
Phuong - Taxation in the UK - Chapter 9 - The personal tax computation
Phuong - Taxation in the UK - Chapter 9 - The personal tax computation
Phuong Nguyen
Private Equity Tax Planning in 2010
Private Equity Tax Planning in 2010
BDO
Belgium budget 2012
Belgium budget 2012
EY Belgium
Recent Developments Dutch Tax Law
Recent Developments Dutch Tax Law
jeroenvdl
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...
BDO
Recomendados
Tax opportunities - investing through the Netherlands
Tax opportunities - investing through the Netherlands
Guido Van Asperen
Legislation update and current structure developments
Legislation update and current structure developments
Infotropic Media
Corporate taxforum
Corporate taxforum
EY Belgium
Phuong - Taxation in the UK - Chapter 9 - The personal tax computation
Phuong - Taxation in the UK - Chapter 9 - The personal tax computation
Phuong Nguyen
Private Equity Tax Planning in 2010
Private Equity Tax Planning in 2010
BDO
Belgium budget 2012
Belgium budget 2012
EY Belgium
Recent Developments Dutch Tax Law
Recent Developments Dutch Tax Law
jeroenvdl
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...
On Top of Tax - preparing for the upturn: debt restructuring, anti-avoidance ...
BDO
International Taxation Panel Presentation
International Taxation Panel Presentation
International Centre for Tax and Development - ICTD
Treaty Shopping
Treaty Shopping
Shahzad Khan
International taxation presentation
International taxation presentation
Karthik S Raj
China update seminar
China update seminar
EY Belgium
Taxing the extractive sector in low income countries: A new database and rese...
Taxing the extractive sector in low income countries: A new database and rese...
International Centre for Tax and Development - ICTD
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
Akunobera
International taxation
International taxation
Anam Shahid
Assignment international taxation
Assignment international taxation
Eesha Gupta
Tax havens & of cs
Tax havens & of cs
Indukoori S S N Raju - MVGR DMS
Multilateral Convention
Multilateral Convention
TAXPERT PROFESSIONALS
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
ksanu
Basics of Double Taxation Avoidance Agreements
Basics of Double Taxation Avoidance Agreements
Gagan Singh
Enforcement of Foreign Judgments, Ireland 2018
Enforcement of Foreign Judgments, Ireland 2018
Matheson Law Firm
Double taxation
Double taxation
DimpleJangra3
Beneficial ownership clause presentation
Beneficial ownership clause presentation
Christos Theophilou
International Taxation Overview & Update
International Taxation Overview & Update
San Diego Center for International Trade Development
Module 1 Introduction To International Tax
Module 1 Introduction To International Tax
Umling
Future of treaty formed holding companies and preferential
Future of treaty formed holding companies and preferential
Harm J. Oortwijn
Deloitte UK Restructuring - A European Perspective Autumn 2015
Deloitte UK Restructuring - A European Perspective Autumn 2015
Thorsten Lederer 托尔斯滕
PwC Pre-Budget 2012 Presentation
PwC Pre-Budget 2012 Presentation
Dublin Chamber of Commerce
Banco Santander Activity and results 3Q12
Banco Santander Activity and results 3Q12
BANCO SANTANDER
A pinch of SALT: what you need to know
A pinch of SALT: what you need to know
EY
Más contenido relacionado
La actualidad más candente
International Taxation Panel Presentation
International Taxation Panel Presentation
International Centre for Tax and Development - ICTD
Treaty Shopping
Treaty Shopping
Shahzad Khan
International taxation presentation
International taxation presentation
Karthik S Raj
China update seminar
China update seminar
EY Belgium
Taxing the extractive sector in low income countries: A new database and rese...
Taxing the extractive sector in low income countries: A new database and rese...
International Centre for Tax and Development - ICTD
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
Akunobera
International taxation
International taxation
Anam Shahid
Assignment international taxation
Assignment international taxation
Eesha Gupta
Tax havens & of cs
Tax havens & of cs
Indukoori S S N Raju - MVGR DMS
Multilateral Convention
Multilateral Convention
TAXPERT PROFESSIONALS
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
ksanu
Basics of Double Taxation Avoidance Agreements
Basics of Double Taxation Avoidance Agreements
Gagan Singh
Enforcement of Foreign Judgments, Ireland 2018
Enforcement of Foreign Judgments, Ireland 2018
Matheson Law Firm
Double taxation
Double taxation
DimpleJangra3
Beneficial ownership clause presentation
Beneficial ownership clause presentation
Christos Theophilou
International Taxation Overview & Update
International Taxation Overview & Update
San Diego Center for International Trade Development
Module 1 Introduction To International Tax
Module 1 Introduction To International Tax
Umling
Future of treaty formed holding companies and preferential
Future of treaty formed holding companies and preferential
Harm J. Oortwijn
Deloitte UK Restructuring - A European Perspective Autumn 2015
Deloitte UK Restructuring - A European Perspective Autumn 2015
Thorsten Lederer 托尔斯滕
La actualidad más candente
(19)
International Taxation Panel Presentation
International Taxation Panel Presentation
Treaty Shopping
Treaty Shopping
International taxation presentation
International taxation presentation
China update seminar
China update seminar
Taxing the extractive sector in low income countries: A new database and rese...
Taxing the extractive sector in low income countries: A new database and rese...
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
Anti-Treaty Shopping: A Comparative Analysis of the U.S. and OECD Model Tax C...
International taxation
International taxation
Assignment international taxation
Assignment international taxation
Tax havens & of cs
Tax havens & of cs
Multilateral Convention
Multilateral Convention
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
CONFLICT OF SOURCE AND RESIDENCE PRINCIPLES OF TAXATION
Basics of Double Taxation Avoidance Agreements
Basics of Double Taxation Avoidance Agreements
Enforcement of Foreign Judgments, Ireland 2018
Enforcement of Foreign Judgments, Ireland 2018
Double taxation
Double taxation
Beneficial ownership clause presentation
Beneficial ownership clause presentation
International Taxation Overview & Update
International Taxation Overview & Update
Module 1 Introduction To International Tax
Module 1 Introduction To International Tax
Future of treaty formed holding companies and preferential
Future of treaty formed holding companies and preferential
Deloitte UK Restructuring - A European Perspective Autumn 2015
Deloitte UK Restructuring - A European Perspective Autumn 2015
Similar a Webcast be budget2012
PwC Pre-Budget 2012 Presentation
PwC Pre-Budget 2012 Presentation
Dublin Chamber of Commerce
Banco Santander Activity and results 3Q12
Banco Santander Activity and results 3Q12
BANCO SANTANDER
A pinch of SALT: what you need to know
A pinch of SALT: what you need to know
EY
State and local tax considerations
State and local tax considerations
EY
Dt results q1_2012
Dt results q1_2012
Deutsche Telekom
Budget Report 2011
Budget Report 2011
sajahmed99
Activity and Results 2012
Activity and Results 2012
BANCO SANTANDER
Revised Tax Code India 2010
Revised Tax Code India 2010
Manish Chauhan
Surviving the Global Meltdown
Surviving the Global Meltdown
Nair and Co.
Full year results 2011
Full year results 2011
Ageas
Indian budget challenges..
Indian budget challenges..
Bharti Bansal
Angel Ron: Banco Popular Third Quarter 2010 Results Crisis
Angel Ron: Banco Popular Third Quarter 2010 Results Crisis
Banco Popular
Financial transaction tax small is beautiful (english)
Financial transaction tax small is beautiful (english)
ManfredNolte
Budget Report 2011
Budget Report 2011
irc_houston
Union Budget 2009 Accretive Special Communique
Union Budget 2009 Accretive Special Communique
Vishnu Bagri
Resultados bayer
Resultados bayer
WEB FINANCIAL GROUP INTERNATIONAL SL
Webinar important tax changes in poland from 2022 the polish deal (7.12)
Webinar important tax changes in poland from 2022 the polish deal (7.12)
PwC Polska
Powerpoint budget 2011 8dec2010
Powerpoint budget 2011 8dec2010
AnthonyCasey
Deutsche EuroShop Interim Report 9M 2012
Deutsche EuroShop Interim Report 9M 2012
Deutsche EuroShop AG
Recent developments in the field of VAT: a view from the European Commission
Recent developments in the field of VAT: a view from the European Commission
DLA Piper Nederland N.V.
Similar a Webcast be budget2012
(20)
PwC Pre-Budget 2012 Presentation
PwC Pre-Budget 2012 Presentation
Banco Santander Activity and results 3Q12
Banco Santander Activity and results 3Q12
A pinch of SALT: what you need to know
A pinch of SALT: what you need to know
State and local tax considerations
State and local tax considerations
Dt results q1_2012
Dt results q1_2012
Budget Report 2011
Budget Report 2011
Activity and Results 2012
Activity and Results 2012
Revised Tax Code India 2010
Revised Tax Code India 2010
Surviving the Global Meltdown
Surviving the Global Meltdown
Full year results 2011
Full year results 2011
Indian budget challenges..
Indian budget challenges..
Angel Ron: Banco Popular Third Quarter 2010 Results Crisis
Angel Ron: Banco Popular Third Quarter 2010 Results Crisis
Financial transaction tax small is beautiful (english)
Financial transaction tax small is beautiful (english)
Budget Report 2011
Budget Report 2011
Union Budget 2009 Accretive Special Communique
Union Budget 2009 Accretive Special Communique
Resultados bayer
Resultados bayer
Webinar important tax changes in poland from 2022 the polish deal (7.12)
Webinar important tax changes in poland from 2022 the polish deal (7.12)
Powerpoint budget 2011 8dec2010
Powerpoint budget 2011 8dec2010
Deutsche EuroShop Interim Report 9M 2012
Deutsche EuroShop Interim Report 9M 2012
Recent developments in the field of VAT: a view from the European Commission
Recent developments in the field of VAT: a view from the European Commission
Más de EY Belgium
Addressing the challenge of the new European Union Medical Device Regulation
Addressing the challenge of the new European Union Medical Device Regulation
EY Belgium
IFRS 15 - the new revenue recognition standard
IFRS 15 - the new revenue recognition standard
EY Belgium
EY financial accounting advisory services - Your partner in finance
EY financial accounting advisory services - Your partner in finance
EY Belgium
European banking barometer - Belgian results
European banking barometer - Belgian results
EY Belgium
Human Capital Alert - may 2014
Human Capital Alert - may 2014
EY Belgium
Baromètre de l'Attractivité belge - résultats de perception
Baromètre de l'Attractivité belge - résultats de perception
EY Belgium
Barometer van de Belgische Attractiviteit 2014 - perceptieresultaten
Barometer van de Belgische Attractiviteit 2014 - perceptieresultaten
EY Belgium
Analyse des performances et évolution du tissu PME wallon
Analyse des performances et évolution du tissu PME wallon
EY Belgium
EY global consumer banking survey - Western European highlights
EY global consumer banking survey - Western European highlights
EY Belgium
CFO Barometer - economische trends
CFO Barometer - economische trends
EY Belgium
EY Real Estate Asset Investment trend indicator 2014
EY Real Estate Asset Investment trend indicator 2014
EY Belgium
Mobile application security
Mobile application security
EY Belgium
EY seminarie: Uitkeringen en roerende voorheffing
EY seminarie: Uitkeringen en roerende voorheffing
EY Belgium
European Banking Barometer: Spring/Summer 2013 - Belgian focus
European Banking Barometer: Spring/Summer 2013 - Belgian focus
EY Belgium
Le Baromètre 2013 de l'Attractivité Belge
Le Baromètre 2013 de l'Attractivité Belge
EY Belgium
Barometer van de Belgische Attractiviteit 2013
Barometer van de Belgische Attractiviteit 2013
EY Belgium
Human Capital Fire Chat
Human Capital Fire Chat
EY Belgium
EY barometer van de belgische attractiveness part 1 2013
EY barometer van de belgische attractiveness part 1 2013
EY Belgium
EY baromètre de l’attractivité belge partie 1 - 2013
EY baromètre de l’attractivité belge partie 1 - 2013
EY Belgium
Info security - mobile approach
Info security - mobile approach
EY Belgium
Más de EY Belgium
(20)
Addressing the challenge of the new European Union Medical Device Regulation
Addressing the challenge of the new European Union Medical Device Regulation
IFRS 15 - the new revenue recognition standard
IFRS 15 - the new revenue recognition standard
EY financial accounting advisory services - Your partner in finance
EY financial accounting advisory services - Your partner in finance
European banking barometer - Belgian results
European banking barometer - Belgian results
Human Capital Alert - may 2014
Human Capital Alert - may 2014
Baromètre de l'Attractivité belge - résultats de perception
Baromètre de l'Attractivité belge - résultats de perception
Barometer van de Belgische Attractiviteit 2014 - perceptieresultaten
Barometer van de Belgische Attractiviteit 2014 - perceptieresultaten
Analyse des performances et évolution du tissu PME wallon
Analyse des performances et évolution du tissu PME wallon
EY global consumer banking survey - Western European highlights
EY global consumer banking survey - Western European highlights
CFO Barometer - economische trends
CFO Barometer - economische trends
EY Real Estate Asset Investment trend indicator 2014
EY Real Estate Asset Investment trend indicator 2014
Mobile application security
Mobile application security
EY seminarie: Uitkeringen en roerende voorheffing
EY seminarie: Uitkeringen en roerende voorheffing
European Banking Barometer: Spring/Summer 2013 - Belgian focus
European Banking Barometer: Spring/Summer 2013 - Belgian focus
Le Baromètre 2013 de l'Attractivité Belge
Le Baromètre 2013 de l'Attractivité Belge
Barometer van de Belgische Attractiviteit 2013
Barometer van de Belgische Attractiviteit 2013
Human Capital Fire Chat
Human Capital Fire Chat
EY barometer van de belgische attractiveness part 1 2013
EY barometer van de belgische attractiveness part 1 2013
EY baromètre de l’attractivité belge partie 1 - 2013
EY baromètre de l’attractivité belge partie 1 - 2013
Info security - mobile approach
Info security - mobile approach
Último
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdf
Paul Menig
Enhancing and Restoring Safety & Quality Cultures - Dave Litwiller - May 2024...
Enhancing and Restoring Safety & Quality Cultures - Dave Litwiller - May 2024...
Dave Litwiller
Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptx
Workforce Group
Best Basmati Rice Manufacturers in India
Best Basmati Rice Manufacturers in India
Shree Krishna Exports
MONA 98765-12871 CALL GIRLS IN LUDHIANA LUDHIANA CALL GIRL
MONA 98765-12871 CALL GIRLS IN LUDHIANA LUDHIANA CALL GIRL
Seo
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
Matteo Carbone
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Dipal Arora
Lucknow 💋 Escorts in Lucknow - 450+ Call Girl Cash Payment 8923113531 Neha Th...
Lucknow 💋 Escorts in Lucknow - 450+ Call Girl Cash Payment 8923113531 Neha Th...
anilsa9823
Regression analysis: Simple Linear Regression Multiple Linear Regression
Regression analysis: Simple Linear Regression Multiple Linear Regression
Ravindra Nath Shukla
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
Call Girls in Delhi
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
Ethan lee
VIP Call Girls In Saharaganj ( Lucknow ) 🔝 8923113531 🔝 Cash Payment (COD) 👒
VIP Call Girls In Saharaganj ( Lucknow ) 🔝 8923113531 🔝 Cash Payment (COD) 👒
anilsa9823
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
dlhescort
Call Girls In DLf Gurgaon ➥99902@11544 ( Best price)100% Genuine Escort In 24...
Call Girls In DLf Gurgaon ➥99902@11544 ( Best price)100% Genuine Escort In 24...
lizamodels9
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Dipal Arora
7.pdf This presentation captures many uses and the significance of the number...
7.pdf This presentation captures many uses and the significance of the number...
Paul Menig
Understanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key Insights
seri bangash
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Lviv Startup Club
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
NZSG
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Dipal Arora
Último
(20)
Grateful 7 speech thanking everyone that has helped.pdf
Grateful 7 speech thanking everyone that has helped.pdf
Enhancing and Restoring Safety & Quality Cultures - Dave Litwiller - May 2024...
Enhancing and Restoring Safety & Quality Cultures - Dave Litwiller - May 2024...
Cracking the Cultural Competence Code.pptx
Cracking the Cultural Competence Code.pptx
Best Basmati Rice Manufacturers in India
Best Basmati Rice Manufacturers in India
MONA 98765-12871 CALL GIRLS IN LUDHIANA LUDHIANA CALL GIRL
MONA 98765-12871 CALL GIRLS IN LUDHIANA LUDHIANA CALL GIRL
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Mysore Call Girls 8617370543 WhatsApp Number 24x7 Best Services
Lucknow 💋 Escorts in Lucknow - 450+ Call Girl Cash Payment 8923113531 Neha Th...
Lucknow 💋 Escorts in Lucknow - 450+ Call Girl Cash Payment 8923113531 Neha Th...
Regression analysis: Simple Linear Regression Multiple Linear Regression
Regression analysis: Simple Linear Regression Multiple Linear Regression
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
9599632723 Top Call Girls in Delhi at your Door Step Available 24x7 Delhi
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
VIP Call Girls In Saharaganj ( Lucknow ) 🔝 8923113531 🔝 Cash Payment (COD) 👒
VIP Call Girls In Saharaganj ( Lucknow ) 🔝 8923113531 🔝 Cash Payment (COD) 👒
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls In DLf Gurgaon ➥99902@11544 ( Best price)100% Genuine Escort In 24...
Call Girls In DLf Gurgaon ➥99902@11544 ( Best price)100% Genuine Escort In 24...
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
Call Girls Pune Just Call 9907093804 Top Class Call Girl Service Available
7.pdf This presentation captures many uses and the significance of the number...
7.pdf This presentation captures many uses and the significance of the number...
Understanding the Pakistan Budgeting Process: Basics and Key Insights
Understanding the Pakistan Budgeting Process: Basics and Key Insights
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
Yaroslav Rozhankivskyy: Три складові і три передумови максимальної продуктивн...
It will be International Nurses' Day on 12 May
It will be International Nurses' Day on 12 May
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Call Girls Navi Mumbai Just Call 9907093804 Top Class Call Girl Service Avail...
Webcast be budget2012
1.
Webcast Belgium -
Budget 2012 Overview of Tax Measures - Update
2.
Technical notes
Enlarge display Download PDF Ask questions via chat 08.03.2012 Ernst & Young 2 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
3.
Speakers
Herwig Joosten Matthias Franz Koen Cooreman Ernst & Young Partner, Tax Ernst & Young Ernst & Young, Stuttgart Belgium Managing Partner Tax Executive Director Corporate Tax Johan Bellens Stijn Vanoppen Ernst & Young Ernst & Young Executive Tax Director Human Capital FSO Tax Executive Director 08.03.2012 Ernst & Young 3 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
4.
Agenda
1. Introduction 2. Notional interest deduction 3. Thin cap 4. Capital gains on shares (corporate income taxation) 5. General anti-abuse provision – Art. 344, §1 ITC 92 6. Pension taxation 7. Taxation of company cars 8. Withholding tax measures 9. Conclusion 08.03.2012 Ernst & Young 4 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
5.
Introduction Budget plan Di
Rupo I partially put into legislation ► Law of 28 December 2011 containing miscellaneous provisions (Belgian Official Gazette of 30 December 2011) ► Bill of second program law submitted to Parliament ► Still not all announced measures included Budgetary exercise of EUR 11.3 billion ► Original hypothesis: economic growth of 0.8% ► Projected growth reduced to ► 0.1% (Federaal Planbureau/Bureau fédéral du Plan) in February 2012 ► - 0,1% (IMF/EU Commission) in February 2012 ► Need for additional EUR 1 to 2 billion ► New budget round started previous weekend 5 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
6.
Introduction Tax measures: impact
in 2012 (EUR 3,449 mio) EUR (in mio) Percentage Notional interest deduction 1,620 + 45.6% Taxation of capital gains on shares 150 + 4.2% Company car taxation 200 + 5.7% Externalization pension provisions 55 + 1.6% Stock options 20 + 0.5% Benefit in kind housing, etc. 170 + 4.8% WHT increase and solidarity levy 917 + 26.0% Stock exchange tax 50 + 1.4% VAT pay-TV 84 + 2.4% VAT notaries and bailiffs 100 + 2.8% Excises 158 + 4.5% Related measures (combat fraud, …): EUR 3,220 mio (2012-2014) 6 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
7.
Corporate tax –
Notional interest deduction Adopted (applicable as from TY 2013) ► NID rate: reduction of cap to 3% (3.5% for SME) for 2012-2014 ► As from 2015: NID rate will be determined by law Still no draft text on ► Abolishment of NID carry-forward for future excess NID ► Limitation of deduction of existing stock excess NID (40/60-rule and combination with 7-year limitation still to be determined) Other news ► Reasoned opinion EU Commission regarding exclusion EU/EEA branch equity and real estate from NID basis (26 January 2012) ► EU Commission: incompatible with freedom of establishment and EU free movement of capital ► Belgium has 2 months to answer – probably negative answer 7 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
8.
Corporate tax –
Thin capitalization (new regime) Modification still in the pipeline (applicability planned as from date of publication): scope ► No longer limited to interest paid to beneficial owner, subject to no income tax or a far more beneficial regime for interest income ► Also for intra-group loans (irrespective of tax treatment of interest at the level of the beneficiary) ► Definition of group companies in accordance with Art. 11 Companies Code ► Connected companies (concept of control) ► Consortium (companies under central management) ↔ Initial version: (broader) BCC definition ► Excluded: loans contracted by ► Leasing companies under supervision of BNB/NBB and FSMA insofar the loans relate to leasing activities ► Factoring companies under supervision of BNB/NBB and FSMA insofar the loans relate to factoring activities ► Companies primarily active in the field of public-private cooperation 8 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
9.
Corporate tax –
Thin capitalization (new regime) Modification still in the pipeline: scope (cont’d) ► Change of thin cap ratio from 7:1 now to 5:1 ► Debt ► All loans, with the exclusion of ► Bonds ► Other publicly issued borrowing instruments ► Loans granted by certain financial institutions (banks, insurance companies and other types of financial institutions listed in Art. 56, §2, 2° ITC 92) ► Look at beneficial owner in case of indirect loans and guaranteed loans when main aim of indirect loan/guarantee is tax avoidance ► Equity = fiscal equity ► The sum of the taxed reserves at the beginning of the accounting period and the paid-in capital at the end of the accounting period ↔ Initial version: accounting equity ► Special provision neutralizing the decrease of taxed reserves in case of parent-subsidiary restructurings (merger goodwill) 9 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
10.
Corporate tax –
Thin capitalization (new regime) Open questions - what about ► EU context ? ► Renting? ► FX intercompany loans that are potentially swapped? ► Trade debt? Future of Belgium as location for financing centers? ► Future of cash pooling and intercompany factoring? ► No netting (no Dutch 10d-type rule – still very soft rule and relatively easy to come by) ► Factoring/leasing exclusion: too restrictive scope of application ► No tax consolidation ► Lobbying (AmCham) in progress to ► Exclude bona fide intra-group finance companies ► Introduce netting (only on excess of loans-in vs. loans-out and interest-out vs. interest-in) 10 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
11.
Corporate tax –
Thin capitalization (new regime) Risk of double taxation ► Article 55 ITC 92 (transfer pricing) continues to exist ► Article 54 ITC 92 continues to exist ► Reporting requirement for certain payments ≥ EUR 100,000 (Article 307, § 1 ITC 92) ► Pro rata temporis application (on a day-per-day basis?) 11 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
12.
Corporate tax –
Capital gain on shares Modification still in the pipeline (entry into application planned for TY 2013 and TY 2012 if accounting period not closed on date of publication) ► Taxation at 25% of capital gains on shares held for less than one year (exception to principle of tax exemption of capital gains held for 1 year in full ownership) ► Capital losses remain non-deductible ► To be assessed on a share-per-share basis ► Neutrality of tax-neutral restructurings for assessment holding period requirement ► Special regime for shares in trade portfolio of financial institutions and certain traders ► Taxation of capital gains – deductibility of capital losses (reference date: 31 December 2011) ► Special rules for transfers between portfolios 12 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
13.
Corporate tax –
Capital gain on shares Company type Portfolio Taxation Holding Tax rate requirement period requirement Financial institutions/ Trade - - 33.99% Traders Financial institutions/ Other X - 33.99% Traders Financial institutions/ Other X 25.75% Traders Financial institutions/ Other Exempt Traders Other companies N/A X - 33.99% Other companies N/A X 25.75% Other companies N/A Exempt 13 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
14.
Corporate tax –
Capital gain on shares Open questions: ► Imputation of deductions and losses ► Different value in case of imputation on taxable capital gains on shares (at 25.75%) or normal taxable basis (at 33.99%/progressive rates for SME) ► Imputation at choice of taxpayer? Pro rata parte? ► Probably no impact on application of progressive corporate tax rates 14 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
15.
General anti-abuse provision Art.
344, §1 ITC 92 Original provision adopted in 1993 ► Recharacterization of transaction(s), when aim of legal characterization of the parties opted for is tax avoidance ► Taxpayer may prove legitimate needs of a financial or economic nature for the chosen legal characterization ► Limited application in practice due to strict legal approach adopted in case law of Supreme Court : need for similar legal consequences (impossible for one-step transactions and difficult for step-by-step transactions unless (near- )simulation) 15 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
16.
General anti-abuse provision Art.
344, §1 ITC 92 - Modification In the pipeline: modification of the general anti-abuse provision ► Abuse of tax law ► Avoidance of the application of provisions of ITC 92 or RD/ITC 92 (taxation vs. tax benefit) ► Through legal and non-simulated legal acts ► Approximating to taxable acts vs. acts not benefiting from a tax benefit ► Not in line with the objectives of the tax provision ► Avoidance of Belgian income tax as sole material purpose ► Inspiration in ECJ case law – aimed at wholly artificial arrangements ► Not pursuant the economic goals of the tax provision; or ► Not pursuant the economic reality; or ► Not at normal economic or financial conditions ► Entry into application ► Tax year 2013 ► Tax year 2012 if accounting period is not closed on date of publication ► Similar provisions for registration duties and inheritance tax 16 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
17.
General anti-abuse provision Art.
344, §1 ITC 92 - Modification Current provision New provision Scope Legal act or legal acts establishing a Legal act or legal acts establishing a same operation same operation Burden of proof Tax avoidance Abuse of tax law (wholly artificial tax authorities arrangements (inspired by ECJ case law)): (non) application of provision, contrary with its aim Means of All, including presumptions but All, including presumptions but evidence tax excluding oath excluding oath, based on objective authorities circumstances Counterproof Justified economic or financial needs Other specific and material objectives, not limited to sphere of economic or financial needs (ruling possible on motives, not on procedure) Inopposability Classification of legal act(s) Legal act(s) Sanction Reclassification in an act with identical Repairment of tax base or calculation or similar legal consequences as if there is no abuse 17 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
18.
General anti-abuse provision Art.
344, §1 ITC 92 – Potential examples Letting - Subletting ► Ignoring subletting? Reduction of paid-up capital ► Dividend distribution? Liquidation of company followed by reincorporation ► Dividend distribution? Back-to-back financing via Belco to avoid WHT ► Direct payment to ultimate economic lender with WHT? Split acquisition of usufruct and ownership via management company? Split sale transactions (long lease rights with option on naked ownership) to avoid upfront registration duties? 18 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
19.
General anti-abuse provision Art.
344, §1 ITC 92 – Potential examples ► Sale of shares of a single residential real estate asset company? Step-up for the purchaser? ► Recharacterisation of profit-participating loans as profit-sharing certificates? ► Sale of shares in Opco by individuals to new Holdco for deferred payment, followed by dividend distribution by Opco to Holdco? ► Sale of cash management company to a financial institution, followed by liquidation? ► Contribution of share-bond portfolio by director/shareholder into fully- owned EBVBA/SPRLU to avoid WHT? 19 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
20.
General anti-abuse provision Art.
344, §1 ITC 92 Potential issues ► Retroactive entry into application? ► Application possible over several years for step-by-step transactions in case of “eenheid van opzet / unité d’intention” Action points: ► Assess impact of extended reclassification possibilities on structures and operations ► Consider potential planning before enactment and publication still ► Ernst & Young has dedicated a team of tax specialists to further analyze the new provision and to follow-up on developments in its application 20 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
21.
Corporate income tax
- Pensions Modification still in the pipeline: mandatory externalization of individual pension promises (financing via internal provisions is no longer allowed) ► Initial plan: ► Existing internal provisions: externalization within three years ► Insurance premium tax 4.4% on new insurances ► ► 1.75% on externalization of existing internal pension provisions ► BUT: rumored agreement on ► Externalization requirement only for future – no externalization obligation for existing pension provisions; and ► Tax of 1.75% on existing pension provisions, with possibility to spread over 3 years (at 0.6% per year) ► Tax of 4.4% on future contributions ► Date of entry into application unknown 21 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
22.
Corporate income tax
- Pensions Modification still in the pipeline: adaptation of treatment of employers’ contributions (second pillar) ► Initial plan: Additional limitation of tax deductibility of complementary pension contributions based on amount of pension payment upon retirement ► Currently: cap of 80% of last annual gross salary ► Introduction of an additional cap: pension of the highest public official (gross EUR 72,480.72 per year or EUR 6,040.06 per month) ► BUT: rumored agreement on changes to initial plan ► No change to 80%-rule ► Social security contribution on employers’ contributions if the premiums paid constitute a pension (legal and extra-legal pensions combined) which exceeds the pension of the highest paid public official ► Date of entry into application unknown 22 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
23.
Corporate income tax
- Pensions Action points / points of attention ► Follow-up on rumored changes to initial plans - Ernst & Young keeps subscribers up-to-date on developments via Tax Alerts! 23 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
24.
Personal income tax
- Pensions Still in the pipeline: modification of treatment of payments and contributions ► Pension payments (second pillar): increase of tax rate on payments (part relating to employer contributions) ► Current situation ► Payment at ages 60 to 64: 16.5% ► Payment at age 65: 10% ► New situation Payment at age 60: 20% ► ► Payment at age 61: 18% ► Payment at age 62 to 64: 16.5% ► Payment at age 65: 10% ► Personal pension contributions (second and third pillar) ► Current situation: tax reduction at rate between 30% and 40% ► New situation: tax reduction at 30% 24 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
25.
Corporate and personal
income tax Company cars Adopted (applicable as from 1 January 2012) ► New calculation formula for benefits in kind (BIK) for company cars (to be amended) ► Deduction of lump sum commuting cost limited to amount of BIK ► Additional disallowed item related to company car costs (corporate and legal entities taxation) 25 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
26.
Corporate and personal
income tax Company cars New calculation formula for BIK company cars BIK = car list value x age correction x CO2 coefficient x 6/7 Law of 28 December 2011 ► Car list value = amount invoiced, including VAT and options, but excluding rebates and discounts Modification in the pipeline: same car list value for all cars ► Car list value = car list price in case of sale of new car to an individual, including VAT and options, but excluding rebates and discounts 26 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
27.
Corporate and personal
income tax Company cars Modification in the pipeline: age-correction : 6% per year– Age correction up to a max. of 70% of list price Number of months expired from Percentage of car list value to be first registration date (month taken into account started = full month) From 0 to 12 months 100 % From 13 to 24 months 94 % From 25 to 36 months 88 % From 37 to 48 months 82 % From 49 to 60 months 76 % As of 61 months 70 % 27 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
28.
Corporate and personal
income tax Company cars Car type Current BIK BIK new regime (7,500 km) (year 1) Audi A6 3,0 TDI EUR 2,397.75 *EUR 3,640.37 BMW X5 xDrive30D 245 EUR 3,363.75 EUR 7,380.21 Mercedes-Benz CLS 350 CDI I EUR 2,742.75 EUR 7,254.85 Mini One D EUR 1,707.75 **EUR 1,200.00 * See below ** Minimum BIK ► Example: Audi A6 Diesel ► List price: EUR 42,900 ► CO2 level: 139 g/km ► CO2 coefficient: 5.5% + 4.4% = 9.9% ► BIK year 1: List price x CO2 coefficient x 6/7 = EUR 3,640.37 ► [BIK year 2: List price x 94% x CO2 coefficient x 6/7 = EUR 3,421.95] ► [BIK > year 5: List price x 70% x CO2 coefficient x 6/7 = EUR 2,548.26] 28 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
29.
Corporate and personal
income tax Company cars FAQ on website tax authorities ► Pro rata temporis calculation on calendar day basis ► First day to be included, day of return of car excluded ► Pro rata applies in case ► Company car available during part of year ► Temporary car (“aanloopwagen / véhicule de transition”) ► Switching cars during the year ► Absence from work (e.g. illness) and car is to be returned to employer during the period of absence ► No pro rata termporis reduction in case of ► Temporary unavailability of car (repair) / no impact of replacement car ► Normal absence from work (leave, sickness) 29 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
30.
Corporate and personal
income tax Company cars FAQ on website Tax Authorities ► Partial private use ► Rule: normal calculation if any private use ► Exception: social benefit in case of exceptional private use of a pool car (e.g. exceptional family circumstance) ► Discounts ► Not to be deducted from car list value / calculation base ► Fleet discount/ free options / … ► FAQ: VAT on discount to be included in car list price ↔ Explanatory memorandum of pending modification: only include VAT really paid (=> not VAT on discount) ► Options financed by employee ► Price of the options not to be included in the calculation base ► Irrespective of payment modality ► Payments by employee for repair/damages: not deductible 30 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
31.
Management Company Car
Tool: Input (1) 31 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
32.
Management Company Car
Tool : Output (1) 32 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
33.
Management Company Car
Tool : input (2) 33 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
34.
Management Company Car
Tool: output (2) 34 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
35.
Personal income tax
– BIK housing/utilities RD of 23 February 2012 (published on 28 February 2012) ► Increase of the BIK for heating from 1.640 to EUR 1,820 (indexed amounts) for income year 2012 ► Increase of the BIK for electricity from EUR 820 to EUR 910 (indexed amounts) for income year 2012 ► Increase of the BIK for free housing for house with a notional income (non- indexed) exceeding EUR 745 ► Currently: 100/60 x notional income x 2 ► 2012 : 100/60 x notional income x 3.8 ► Subject to indexation annually Action points / points of attention ► Reconsider the remuneration package of employees/directors involved (e.g. minimum salary threshold to benefit from the corporate income tax rate for SME) 35 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
36.
Withholding tax Adopted (applicable
to payments as from 1 January 2012) ► Increase of WHT rate on interest and reduced WHT rate on dividends to 21% ► Introduction of an additional “solidarity levy” of 4% ► New reporting requirements for withholding agents Legislative amendments in the pipeline ► Practical aspects of the “solidarity levy” (reporting requirements, nature of the levy, etc.) Finance Minister: “Reform of WHT rules of Law of 28 December 2011 is still possible”, referring to ► Return to system of anonymity and final character of WHT ► 25% WHT rate with reimbursement of 4% on EUR 20,020 of qualifying interest and dividends upon request via the tax return 36 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
37.
Withholding tax Additional solidarity
levy – What? ► Extra levy of 4% (no municipality surcharge) ► Applicable to the net amount of interest income and dividends exceeding EUR 20,020 (in 2012), excluding ► Dividends and interest payments subject to the 10 or 25% rate of WHT ► Interest paid on government debt securities issued and underwritten between 24 November 2011 and 2 December 2011; and ► Interest from qualifying savings accounts ► Ongoing lobby from financial sector for abolishment (application of 25% with reimbursement of excess, cfr. previous slide) 37 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
38.
Withholding tax Additional solidarity
levy – How? ► Either to be levied at source ► Or via assessment (optional) ► At the request of the beneficiary ► Giving rise to reporting formalities of the relevant investment income 38 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
39.
Withholding tax Additional solidarity
levy – How? ► Levy at source: 4% on the entire amount ► Possibility to claim back excess via the tax return ► Character: not tantamount to a withholding tax ► Via a specific form (not WHT returns): still to be issued ► Extent to which existing rules regarding WHT apply: still uncertain! ► Legislative amendments in the pipeline ► Specific references to certain (sub-)sections of the ITC 92 ► Sub-section relating to WHT exemptions (articles 264-266 ITC 92) is explicitly set aside! ► Unwanted effect: does that mean that investment income subject to 0% WHT (e.g. share redemption through stock exchange, dividends from domestic REITs) will always be subject to the 4 % of additional solidarity levy ?? 39 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
40.
Withholding tax Additional solidarity
levy – Assessment through reporting ► Act of 28 December 2011: obligations on withholding agent ► The issuer in the case of Belgian sourced income (except for securities held in the X/N system for which BNB is the WHT agent) ► First intermediary or subsequent financial institution for foreign sourced income ► Problem: the beneficiary’s identity is unknown to withholding agent ► No election possible? Always via levy at source? At what rate? ► No solution yet ► Problem: withholding agent has not all info subject to reporting ► Legislative amendments in the pipeline ► Withholding agent for income from nominative securities ► Income arising from all other securities: reporting obligation shift to paying agent 40 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
41.
Withholding tax Additional solidarity
levy – Reporting: to whom? What? ► To whom? Legislative amendment in the pipeline: ► Reporting to the competent department of the FOD/SPF Finance ► Instead of the National Bank ► Department independent from tax authorities (IT staff) ► Reporting of personal (beneficiary) and payment identification data ► What income? ► No reporting requirement for interest income/dividends on which the additional solidarity levy was applied at source ► Legislative amendment in the pipeline: exception (reporting) if debtor bears WHT ► Reporting requirement for all other interest and dividend income listed in article 17, §1, 1° and 2° ITC 92 ► Reporting only in view of applying the additional solidarity levy/treshold computation? Quid liquidation boni taxable @ 10%, government debt taxable @ 15%? 41 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
42.
Withholding tax Additional solidarity
levy – Reporting to the tax authorities? ► Communication to the tax authorities FOD/SPF Finance ► Upon request: ► Only possible in respect of the solidarity levy (when the taxpayer requests a refund of 4% levy) ► Not for other purposes, e.g. taxation based on “tekenen en indiciën van gegoedheid / signes et indices d’aisance” ► Automatic communication ► Only if more than EUR 20,020 reported to the competent department of the FOD/SPF Finance ► Practical aspects to be laid down in a Royal Decree 42 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
43.
Withholding tax –
Examples WHT rate Threshold Solidarity levy Reporting to FOD/SPF Dividends (strips) 21% (unless 4%) Dividends 25% X (no strips) Regulated 15% (exempt X Interest savings up to EUR accounts 1,830) Interest 15% X X government bonds 24/11- 2/12/2011 Interest on debt 25% X pre-1990 Other interest 21% (unless 4%) 43 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
44.
Withholding tax –
Examples WHT rate Threshold Solidarity levy Reporting to FOD/SPF Dividends 21% beveks/sicavs (unless 4%) Dividends REITS 21% (unless 4%) Dividends 0% X ? ? residential REITS EU passported 21% beveks/sicavs, (unless 4%) > 40% debt (accumulating) 44 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
45.
Withholding tax –
Examples WHT rate Threshold Solidarity levy Reporting to FOD/SPF Liquidation boni 10% X X Redemption 21% share buy-back (unless 4%) Income listed in N/A X X X Art. 21 ITC Other movable 15% X X X income 45 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
46.
Conclusion What’s next? ►
Second bill of program law submitted to Parliament (cf. supra) ► General anti-abuse measure (Art. 344, §1 ITC), ► Thin cap ► Modifications relating to solidarity levy ► Capital gains on shares (corporate income taxation) ► Company cars ► Legislation for remaining items to be drafted ► NID carry-forward ► Conversion of tax deductions into tax reductions (personal income tax) ► Pension taxation ► Measures relating to the combat of tax fraud 46 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
47.
Conclusion What’s next? (cont’d) ►
First and preliminary information budget round last weekend: new tax measures? ► Proposals shot down: ► VAT increase ► Minimum tax for companies ► Tax amnesty ► Pick-up of measures abandoned earlier (note Di Rupo)? ► Exclusion of mandatory equity from NID basis (minimum capital and legal reserves)? ► Tax on airplane tickets (business and first class)? ► Increase of tax on liquidation boni? ► 2-year holding period requirement for participation exemption and exemption of capital gains on shares in corporate tax? ► Taxation of capital gains on shares in personal income taxation? ► VAT for lawyers? ► Wealth tax? 47 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
48.
Ernst & Young
will organize a follow- up webcast or seminar in case of further important developments – you will receive an invitation in due time
49.
Thank you for
your attention!
50.
Disclaimer Improper use ►
By nature, the information made available can neither be exhaustive nor tailored to the specific needs of an individual case. It does not constitute advice, any other form of legally binding information or a legally binding proposal on our part. ► This presentation reflects our interpretation of the applicable tax laws and regulations, the corresponding court rulings and the official statements issued by the tax authorities. ► This presentation is based on the law as of the date of this presentation. In the course of time, tax laws, administrative instructions, their interpretation and court rulings may change. Such changes may affect the validity of this presentation. ► We are not obliged to draw your attention to changes in the legal assessment of issues dealt with by us in this presentation. ► We assume no warranty or guarantee for the accuracy or completeness of the contents of this presentation. To the extent legally possible, we do not assume any liability for any action or omission that you have based solely on this presentation. This also applies should the information prove to be imprecise or inaccurate. ► This presentation and the handout are not a substitute for qualified tax advice. 08.03.2012 Ernst & Young 50 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
51.
Disclaimer Copyright ►
Copyright: Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft - All Rights Reserved. ► The disclosure, reproduction, distribution and/or processing of all content and images of this presentation, as well as any other forms of use, are only permitted with the prior written consent of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. 08.03.2012 Ernst & Young 51 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
52.
Ernst & Young
Herwig Joosten Tel.: +32 2 774 91 00 Assurance | Tax | Transactions | Advisory Email: herwig.joosten@be.ey.com 2012 Ernst & Young Transaction Advisory Services All rights reserved. About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit www.ey.com/be. Follow us: twitter.com/EY_Belgium 52 © 2012 Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft. All Rights Reserved.
Descargar ahora