Latest tax & legal developments for Belgium
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Updated FAQ on the temporary 6% VAT-rate for demolition and reconstruction
The tax authorities published a new FAQ with some clarifications regarding the temporary favourable VAT-regime for demolition and reconstruction. This FAQ complements a previously published circular letter on this subject (circular letter n° 2020/C/18) and includes the complementary FAQ involving specific cases with property developers.
Cross-border workers: COVID-19 agreements extended until 30 September 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. These agreements have now been extended until (and included) 30 September 2021.
Double inheritance tax constitutes discrimination
In a judgement of 3 June, the Belgian Constitutional Court ruled that the Belgian inheritance tax legislation is discriminatory, to the extent it allows a credit for foreign inheritance tax levied on foreign real property, but not for foreign inheritance tax levied on movable assets situated outside Belgium.
Real Estate Update - June
With the Real Estate Update we provide you with relevant news, developments and insights in the Real Estate sector. In this edition you will find a report on our May webinar on the new property law: the concept of “right of ownership of volumes” provides new possibilities in the field of building rights. The Walloon Region is the last region to install the so-called commercial lease loan. We compare the 3 schemes for you. And what about VAT on the rent of student rooms? The ruling commission says yes, but what will Parliament do ?
Q & A Employment Law - European Football Championship
The European Football Championship has started. In the coming weeks, we will present you - via question and answer - some points of attention that you, as an employer, but also as an employee, should take into account.
Reform of property law –Building rights in real estate developments
The new book 3 contains important changes about the right to build (opstalrecht / droit de superficie). As building rights are frequently used in the context of real estate development, we analyse their impact below. In addition, we discuss two case studies on the use of building rights in real estate development projects.
Further guidance from the ECJ on VAT exemption for the management of special investment funds
The European Court of Justice (ECJ) ruled that the VAT exemption for the ‘management of special investment funds’ may under certain conditions also encompass tax-compliance services, as well as the use of software designed for the management of special investment funds.
Loyens & Loeff congratulates Parkwind and Arcadis Ost 1 on reaching financial close
On 15 June 2021 Arcadis Ost 1 secured approximately EUR 570 million in funding for the construction and operation of its 257 MW offshore wind farm located in German territorial waters.
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.
Government Relations 2021 - European Union
Lexology Getting The Deal Through provides international expert analysis in key areas of law, practice and regulation for corporate counsel, cross-border legal practitioners, and company directors and officers. For the 2021 edition of Getting The Deal Through, Valentijn De Boe (Partner) and Joren Vuylsteke (Associate) of our Brussels office wrote the chapter on Government Relations in the European Union. This chapter discusses topics such as the EU legislative process, EU lobbying rules and the EU transparency register.
Global Arbitration Review: Challenging and Enforcing Arbitration Awards 2021
The Loyens & Loeff Litigation & Arbitration Team is happy to share the latest contribution of Hakim Boularbah, Olivier van der Haegen and Anaïs Mallien to the Guide “Challenging and Enforcing Arbitration Awards 2021” just published on the website of the Global Arbitration Review (GAR), the leading resource on international arbitration news and community intelligence.
Future prospects for SPACs in Belgium?
Created almost thirty years ago, Special Purpose Acquisition Companies (better known under the acronym ‘SPACs’) have experienced a resurgence in popularity since 2020. While the phenomenon is most popular in the United States, SPACs are rapidly emerging on this side of the Atlantic, especially in the Netherland and Luxembourg. Indeed, SPACs, also known as blank check companies, offer an alternative way of going public which can prove to be advantageous in many respects.
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