Fiscal budget measures 2012

01/08/2012

Last update 21 December 2012

On 1 December 2011 the 2012 federal budgetplan Di Rupo was finalised.

The tax measures in this budget plan have been implemented by means of various legislative initiatives:

The law of 28 December 2011 containing miscellaneous measures (Belgian Official Journal 30/12/2011);
The Programme law of 29 March 2012 (Belgian Official Journal 6/04/2012);
A new programme law dated 22 June 2012 (Belgian Official Journal 28/06/2012);
The law containing fiscal and financial measures of 13 December 2012 (Belgian Official Journal 20/12/2012)

BDO has also developed some interesting tools:

The main topics have been summarised on the basis of the legal sources referred to above.

1. Corporate income tax

Separate tax rate of 25% for the taxation of capital gains on shares that are held by the company for less than one year
Shares from collective investment institutions
The rate of the notional interest deduction is limited to 3% (and 3.5% for SME's)
"thin capitalisation regulation" amended – application of a ratio of 1/5
Internal pension provisions (internal pension accruals for company executives )
New benefit in kind company car partly to be reported as disallowed expense in the hands of the company

Notaries and bailiffs will be considered as regular VAT payers and will therefore no longer be able to enjoy a VAT exemption
Amount administrative VAT fines doubled
Increase in VAT rate digital TV
Increase in excise duties on alcohol and tobacco
The stock exchange tax is raised by 30% and the maximum rates are also raised by 30%
Tax on the conversion of bearer shares into dematerialised shares or nominative shares
Delay for filing inheritance tax returns has been reduced

A series of measures to combat tax and social fraud have been introduced, notably:

A revision of the anti-abuse provision reversing the burden of proof in case of suspicion of tax fraud, which would enable the tax authorities to reclassify transactions more easily into transactions that are taxed more heavily;
Measures against "turbo usufruct constructions" with stronger inspections and new legislative initiatives to determine the value of the benefit in kind;
Cash payments will be reduced to Eur 5,000 (currently Eur 15,000) and will also apply to the purchase of services (currently limited to goods). This amount will be further reduced to Eur 3,000 from 1 January 2014.