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

23/10/2017 | Tax | Denis-Emmanuel Philippe
Belgian tax officials are nearly certain to use an EU-mandated register detailing company ownership data as an auditing tool, practitioners are warning.
A draft law introducing changes to Belgium's Income Tax Code has revealed that local tax officials will pore through a new company ownership database with the explicit aim of ensuring that high-net worth individuals pay ther taxes. The Belgian national registry follow from a European requirement and identifies the ultimate beneficiaries behind resident companies and other legal entities such as trusts, non-profitmaking associations and foundations.


Denis-Emmanuel Philippe, a lawyer at the Bloom law firm, added that the more information the tax administration has at its disposal, the more likely it is to apply all sorts of anti-abuse provisions.

Anti-abuse rules are aimed at combating behavior that goes against the spirit and objectives of a tax law, but that is—strictly speaking—in line with the letter of that very law, with an aim of obtaining undue tax advantages.


More info in the International Tax Monitor of October 23th 2017