Nick De Baere

What are the main challenges faced by companies trying to implement a more sustainable business model? A recent survey by BDO Belgium and Mercuri Urval shows those and how to overcome them:

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Pillar Two update - The Belgian tax authorities published today a message that they will provide an administrative tolerance until 16 September for the notification form for Pillar Two for entities that will not carry out advance payments in 2024 for (Belgian) domestic top-up tax or IIR. For groups that wish to carry out advance payments in 2024, the deadline remains 13 July. https://lnkd.in/eYPP54DE #Deloitte #PillarTwo

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The Belgian #Tax Authorities have opened a public consultation on the draft (Q)DMTT-return, with a deadline of 8 November 2024. With the first (Q)DMTT filing deadline set for 30 November 2025 (for fiscal years ending on 31 December 2024), businesses face a limited window to prepare. This public consultation aims to gather insights that will help finalize the return template and XSD-schema. Don’t forget, Belgium's minimum taxation law also introduces a prepayment system for the (Q)DMTT and the IIR Top-up Tax. Make sure your organization is ready—timely preparation is key! Find out more: https://bit.ly/3UjyAXT #Belgium #KPMGBelgium #KPMGTax

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The Belgian #Tax Authorities have opened a public consultation on the draft (Q)DMTT-return, with a deadline of 8 November 2024. With the first (Q)DMTT filing deadline set for 30 November 2025 (for fiscal years ending on 31 December 2024), businesses face a limited window to prepare. This public consultation aims to gather insights that will help finalize the return template and XSD-schema. Don’t forget, Belgium's minimum taxation law also introduces a prepayment system for the (Q)DMTT and the IIR Top-up Tax. Make sure your organization is ready—timely preparation is key! Find out more: https://bit.ly/3UjyAXT #Belgium #KPMGBelgium #KPMGTax

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In the July 2024 edition of Tax, Audit & Accountancy issued by ICCI Informatiecentrum voor het bedrijfsrevisoraat - Centre d'information du révisorat d'entreprises, my colleagues Thomas Carlier and Carl Verhofstede provide an insightful summary of the accounting issues regarding Virtual Power Purchase Agreements (VPPA) both under IFRS and Belgian GAAP. This article needs to be read in parallel with the recent ED from the IASB on PPA (https://lnkd.in/dBz8nDT4). #Deloitte #IFRS #VPPA

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[#LetsTalkGlobalTax] Under the Dutch CIT rules, profits and capital gains related to participations are exempt for tax purposes. This also limits the deductibility of costs that directly relate to the acquisition or sale of such a participation. Thierry Boonstra, M&A Director, and Marco Hulsman, M&A Tax Advisor, Mazars in Nederland, provide a breakdown of this legal principle: http://maza.rs/6042Y8Ymg

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On 🗓️ 21 June 2024, the Economic and Financial Affairs Council (#ECOFIN), under the Belgian presidency, faced another setback as the 27 EU member states failed to reach an agreement on the VAT in the Digital Age (#ViDA) proposal. Despite this, all member states commended the Belgian presidency for its hard work to reach a consensus 💪🏻. The baton will now be passed to Hungary, which will assume the EU Council presidency as of July. A key takeaway is the consensus among member states on the DRR pillar! The only veto came from Estonia, concerning the new deemed supplier regime, which imposes VAT collection responsibilities on platforms facilitating short-term accommodation rentals and passenger transport. Read the full alert below ⬇️ #VIDA #Einvoicing #Ereporting #DRR #ECOFIN #Deloitte

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📢 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗧𝗮𝘅 𝗨𝗽𝗱𝗮𝘁𝗲 𝟮𝟬𝟮𝟰 📆 June 2024 📍 Various locations #EY Belgium, is organising the 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗧𝗮𝘅 𝗨𝗽𝗱𝗮𝘁𝗲 𝟮𝟬𝟮𝟰 in Dutch and French in various locations. These seminars will address recent legislative and jurisprudential developments in the field of corporate tax, as well as the impact of the various reform projects announced. Register now for the 𝘿𝙪𝙩𝙘𝙝 sessions! #EY #EYBelgium #EYEvent #CorporateTax

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Earlier today Belgium announced an extension of the deadline to file the Pillar Two notification to 16 September. Importantly, the extension is available to MNE Groups that are not required to make estimated payments for Belgium global minimum tax. The extension is welcome news for many companies that do not expect to incur top-up tax in Belgium. #eytax #beps #pillartwo

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Always keeping track of your student expenses? Why not use that skill to create impact for companies? Join BDO as an Accountancy intern! 💪 You’ll build up real-life, practical experience by checking financial data of clients, preparing balances and VAT returns, work on year-end closings... unlocking your full potential along the way. 👉 Make your internship in Accountancy count: https://okt.to/yPxcsj   𝗬𝗼𝘂 𝗹𝗲𝗮𝗿𝗻 𝗬𝗼𝘂 𝗴𝗿𝗼𝘄  𝗬𝗼𝘂 𝗰𝗼𝘂𝗻𝘁    #internship #makeitcount #accountancy #younggraduates 

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Last year, Belgium officially implemented the Pillar 2 rules, which introduce a minimum tax for companies like yours. To ensure compliance, all affected groups must register at the Crossroads Bank for Enterprises (Kruispuntbank van Ondernemingen / Banque Carrefour des Entreprises). Stay tuned, as the detailed guidelines outlined in a Royal Decree dated 15 May 2024 will soon be published in the Belgian Official Gazette (Belgisch Staatsblad / Moniteur Belge). In the meantime, you can find the preliminary information on the Pillar 2 section of the Belgian tax authorities' here: https://bit.ly/3WQtLY8

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In this podcast, PwC colleagues explore the draft Belgian QDMTT return. Belgium is a frontrunner, not only because of the advance tax payments for Pillar 2, the Pillar notification due a few weeks ago, but also because the QDMTT return is due by end of November 2025 (for financial years ending 31 December 2024). Are you interested to learn more about the approach taken by Belgium in view of the QDMTT return? Tune in as the speakers will provide the detail you need. Tune in now on Apple Podcasts, Google Podcasts, or Spotify to stay informed! 🎧 #Belgium #Pillar2 #QDMTT_return

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We had the privilege of hosting our PwC Credit Risk Modelling Round Table, bringing together representatives from major banks across Belgium. The session delved into Credit Risk Hot topics, including EU AI Act, and lessons learned from supervisory inspections on third party rating. The insightful conversations reflected the industry's commitment to navigating these challenges. If you’re interested in participating, we suggest starting a conversation with our experts— @Guillaume Magdelijns, @Kaan Aksel, @Fjona Ndreu and @Laurence Van Severen. Stay tuned for more collaborative dialogues shaping the landscape of credit risk modelling! #PwCBelgium #PwCInsights #CreditRisk #FinancialInnovation

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🌍 Switching perspective from compliance burden to opportunity - PwC’s Global CSRD Survey 2024: Insights resonating with the Belgian Market Following the recent release of PwC’s Global CSRD Survey 2024, we delved into how its findings relate to the Belgian market. We had an insightful discussion with Alice Schmitz and Melchior Poullet from PwC Belgium’s ESG & Sustainable Solutions team. Their key observation? While the global survey highlights numerous benefits, Belgian businesses often see CSRD more as a challenge than an opportunity. Yet, this perspective shift could ignite growth and innovation as companies begin to harness the potential advantages of CSRD compliance. 💡 Read more on https://lnkd.in/e9scPiN4 #CSRD #PwCBelgium #Sustainability #Innovation #Growth

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The first Belgian Pillar 2 compliance milestone is out!! Belgium has issued a guidance on a Pillar 2 notification requirement. This development highlights that in addition to the GloBE Information Return (GIR), MNE groups in scope of Pillar 2 need to keep a track of local country compliance/filing requirements also, which could have different deadlines as compared to the GIR filing deadline. Key highlights of the Belgian requirements: What: MNE groups and large domestic groups in scope of Pillar 2 will have to submit a Pillar 2 notification form including, general group information, detailed information on the ownership structure, etc. When: The notification must be made no later than 30 days after the start of the fiscal year for which the multinational or large domestic group enters into the scope of Pillar 2. For those who are already subject to Pillar 2 (e.g., from 1 January 2024), the first notification will need to happen at least 45 days after the publication of the Royal Decree of 15 May 2024 in the Belgian Official Gazette. Who: The notification needs to be filed by the UPE (if located in Belgium) or another entity located in Belgium. In case of multiple Belgian entities, one Belgian entity should be appointed for the filing of the notification form through a mandate. See this alert prepared by PwC Belgium for more details: https://lnkd.in/gptz_c8m

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