A “program law” extends a requirement to report payments totaling at least €100,000 per financial year, when the payments are remitted to persons or entities located in “tax haven” states or jurisdictions. The new provisions are effective 14 July 2016.
The scope of the reporting requirement has been expanded in three areas.
The program law defines a “state” as an independent state recognized by the majority of UN members. Also, parts or regions of states that can autonomously determine (partially or fully) a taxable base or a corporate tax rate are considered to be a “state” for these tax haven reporting purposes (for instance, Jersey). The tax havens are determined by two lists: (1) the OECD list, and (2) the Belgian list.
Read a July 2016 report prepared by the KPMG member firm in Belgium: Expansion of the obligation of reporting payments made to tax havens
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