CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Belgian Cabinet Approves Brexit Tax Law

Belgian Cabinet Approves Brexit Tax Law

by Ulrika Lomas, Tax-News.com, Brussels

14 March 2019


Belgium's Council of Ministers has approved a draft law that would temporarily treat the United Kingdom as a member of the European Union for Belgian tax purposes should the UK leave the EU having failed to agree any withdrawal arrangements.

"In order to ensure that taxpayers do not suffer the immediate consequences of the failure of negotiations on a Brexit agreement, a transitional period will be introduced allowing the United Kingdom to be considered as still part of the European Union for the purpose of application of tax provisions," said a statement published by the Council of Minister on March 1, 2019.

Tax legislation falling under the scope of the Brexit transition law includes: the 1992 Income Tax Code; the Code of inheritance tax; the Registration, Mortgage and Registry Fees Code; and the Miscellaneous Fees and Taxes Code.

The transitional period would conclude on December 31, 2019, but could be extended for an indefinite period by royal decree following a review by the Council of Ministers.

However, the statement said that the transitional regime will apply only to the extent that reciprocity exists on the part of the United Kingdom.

The UK parliament is due to hold a "meaningful vote" on the terms of the UK's withdrawal from the EU by March 12, 2019. Prime Minister Theresa May announced last week that, if that package is rejected, parliament will then be asked whether the UK should leave the EU without an exit deal on March 29, 2019, or seek a short extension to Article 50.

TAGS: inheritance tax | tax | value added tax (VAT) | Belgium | law | United Kingdom | legislation | Europe | Tax

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »