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The Belgian Fairness Tax falters: impact of the judgment of the European Court of Justice of 17 May 2017

The Fairness Tax is a separate corporate tax assessment of 5,15% introduced in 2013. In a nutshell, the Fairness Tax tax is applicable to Belgian companies that distribute an amount of dividends that exceeds the corporate taxable basis, due to the utilization of tax losses carried forward and notional interest deduction. Small companies are exempt from the Fairness Tax. This measure is tremendously complex, even for experienced tax practitioners. read more...

The adverse impact of the automatic exchange of information for Russians holding bank accounts in Belgium and Luxembourg

13/09/2016 | Tax | Denis-Emmanuel Philippe
On 12 May 2016, Russia joined the OECD Automatic Exchange of Information Agreement on the introduction of the automatic exchange of information in tax matters on a reciprocal basis (Common Reporting Standard or “CRS”). read more...

The notional interest deduction is alive and kicking! The Fortum case

21/01/2016 | Tax | Denis-Emmanuel Philippe
The Belgian tax authorities do not hesitate to deny, in certain situations, the notional interest deduction to Belgian companies belonging to multinational groups. Practice shows that they focus on Belgian intra-group financing vehicles lacking sufficient economic and organizational substance. read more...

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International Tax Monitor: Belgium's Rich Liquidate Investment Funds as Tax Break Ends

21/08/2018 | Tax
Wealthy individuals in Belgium are increasingly liquidating a popular Luxembourg investment fund amid pending law changes meant to discourage stashing wealth offshore. As a result of the changes, set to take effect retroactively from Jan. 1, 2018, Belgian tax residents will become liable for taxation on revenue earned from offshore public and institutional undertakings for collective investments. These include, for instance, a U.S. limited liability company and a Luxembourg civil-law partnership. There may also be impacts for a Luxembourg-based investment fund known as SICAV SIF—a specialized investment vehicle that is operationally flexible and fiscally efficient and which may be sold within the EU or to investors abroad. read more...

Bloom Law Firm recommended in tax (Tier 3) in the new Legal 500

01/01/2018 | Tax
We are proud to announce that Bloom Law Firm has again been recommended in Tax (tier 3) in the new ​Legal 500. read more...

Bloom Law Firm recommended in tax (Tier 3) in the new Legal 500

12/04/2017
We are proud to announce that Bloom Law Firm has been recommended in Tax (tier 3) in the new Legal 500. read more...

Media

Vaaju: Is Belgium really a tax haven for the pharmaceutical industry?

18/09/2018 | Tax
A new report from Oxfam, published on Tuesday, reveals a fiscal optimization case in which Belgium is particularly keen. According to the non-governmental organization the four largest pharmaceutical companies in the world Johnson & Johnson, Pfizer, Abbott and Merck ) disappeared approximately $ 3.5 billion on an international scale between 2013 and 2015 . In Belgium, the pharmaceutical sector is a major economic sector. But what is the tax attributes this sector has in our country? read more...

International Tax Monitor: Belgian Tax on Securities Accounts Misses Target on Wealthy

14/12/2017 | Tax
A draft law aimed at introducing a 0.15 percent tax on a type of financial account widely used by investors does too little too late to affect the highnetworth individuals it was designed to target. read more...

International Tax Monitor: Belgian Company Ownership Registry to be Used as Auditing Tool

23/10/2017 | Tax
Belgian tax officials are nearly certain to use an EU-mandated register detailing company ownership data as an auditing tool, practitioners are warning. read more...

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