Latest tax & legal developments for Belgium
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ECJ paves the way for broader application of VAT-group
The ‘M-GmbH’ ruling of the European Court of Justice (‘ECJ’), issued on 15 April 2021, paves the way for a broader application of the VAT group than most EU countries currently apply. In line with previous rulings, the ECJ considers that the VAT group is not limited to VAT taxable persons or legal persons only. The ECJ rules that the links required to becoming (part of) a VAT group are EU definitions that should be interpreted by EU countries in the same way.
B2B prohibition of unfair clauses creates legal uncertainty for M&A practice
The Belgian legislator has introduced a prohibition on 'unfair clauses' in agreements between enterprises through the Law of 4 April 2019 concerning the abuse of economic dependence, unfair clauses and unfair market practices in B2B relations (the “B2B Law”). In short, the B2B Law prohibits each clause which, individually or taken together with other clauses, creates a significant imbalance between the rights and obligations of the parties. Only the 'core clauses' of an agreement are not subject to this scrutiny provided they are written in an intelligible and clear way (transparency test).
Loyens & Loeff in The Legal 500 2021 EMEA rankings
The Legal 500 has published its EMEA rankings for 2021 today. The rankings are based on independent research on both feedback from peers and clients, as well as on information on projects and transactions we are proud to advise our clients on.
Loyens & Loeff Belgium ranked in The Legal 500 EMEA
The Legal 500 EMEA has published its rankings for 2021. We are glad to reaffirm our position as leading business law firm in Belgium with top rankings throughout our practice areas.
The Legal 500 Private Equity Country Comparative Guide 2021 : Belgium
This country-specific Q&A provides an overview of private equity laws and regulations applicable in Belgium.
Cross-border workers: COVID-19 agreements extended until 30 June 2021
Belgium has concluded so-called “COVID-19” agreements with Germany, France, Luxembourg and the Netherlands on the tax impact of international travel restrictions and health instructions (work at home) for cross-border workers and their employers. In force up to (and included) 31 March 2021, these agreements have now been extended until (and included) 30 June 2021.
Reform of property law – Mortgage in case of split ownership
In our second webinar dedicated to the reform of the property law (new Book 3 in the Civil Code), we discussed the question whether a mortgage can be granted to a financing provider in case the ownership is split between different parties. Below the main take-aways.
COVID-19 drives changes to judicial reorganisation procedures
The COVID-19 crisis has emphasised the importance of having performant insolvency proceedings. As of now, new measures are in force which aim to optimise the judicial reorganisation procedure. We elaborate on the three most relevant changes.
The Real Estate Law Review
A great deal has happened since the first edition of The Real Estate Law Review appeared in 2012, but nothing more significant than the Covid-19 pandemic, a truly global crisis. This tenth edition of the Real Estate Law Review will continue to prove its worth by providing readers with an invaluable overview of how key markets across the globe operate and how they react to major world events. Covid-19 has served as stark reminder that it is no longer possible to look at domestic markets in isolation.
EU Recovery Prospectus: temporary fast-track to boost listed companies' COVID-19 recovery
In addressing the severe economic impact of the COVID-19 pandemic, the European legislator amended the existing Prospectus Regulation and introduced the new EU Recovery Prospectus. In essence, the EU Recovery Prospectus entails a fast-track approval of a short-form prospectus that is available for secondary issuances of shares.
Foreign real estate now also taxed on the basis of cadastral income
Following several convictions by the European Court of Justice, Belgium recently changed its legislation on the taxation of foreign real estate. The aim is to tax foreign real estate owned by Belgian residents in the same way as Belgian real estate, with the cadastral income (i.e. the deemed rental income) as taxable basis (“kadastraal inkomen” / “revenue cadastral”).
New registration tool for employers whose employees cannot work from home
On 24 March 2021, the Belgian government introduced a registration tool for employers to indicate how many employees will work at the company premises, despite the work from home obligation imposed by the government, because they are not able to work from home. The registered data can be used in the event of a social inspection. The registration obligation was introduced by the Ministerial Decree of 26 March 2021.
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