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Central Contact Point for Products. Are there any similar or equivalent restrictions on providing services into another jurisdiction? There are no restrictions on providing services from Belgium into another jurisdiction. On 29 May , the European Parliament approved a proposal for a directive on the posting of workers in the framework of the provision of services COM The principle of equal pay for the same job at the same place will be mandatory.

In addition, greater legal certainty is offered to both employers and employees because member states will be obliged to publish relevant legislation and work conditions on their official website. In relation to outward investment, there are no restrictions other than those established via UN resolutions. Within the EU, no restrictions are allowed on the free movement of goods, capital, services and labour. Therefore, setting up a company or branch in a target country is not a pre-requisite.

However specific rules apply to services is sectors such as healthcare, notaries, gambling, financial services, private security, telecommunications, broadcasting and electronic services. Contacting the Point of Single Contact in the target country is recommended. Structuring and tax How is foreign investment into your jurisdiction typically structured? What forms of legal vehicle are attractive to foreign investors? Incorporation of Belgian legal entity Companies investing in shares and loan capital.

Foreign companies typically invest in a Belgian company because there are no capital or stamp duties due on capital contributions to a Belgian company. All Belgian companies are subject to Belgian corporate income tax on their worldwide income and there are no specific legal forms or regimes that provide a specific tax exemption.

The normal Belgian corporate income tax regime provides an exemption for capital gains on shares see Question The current Belgian Company Code covers many types of companies used as investment vehicles. The new companies code effective 1 May drastically reduces the numbers of company forms and eases the present system, making Belgium even more investor-friendly see Question The latter will be most popular, the former will predominantly be used by listed entities.

The capital of a public limited liability company must be at least EUR61, and is mandatorily fully subscribed and paid up in cash or in kind. A single shareholder can own all of the shares. The private limited company does not need to have any capital.

Under the new Companies Code, shareholders are free to define transferability of shares as they wish. Parties are also free to define corporate governance mechanisms such as: The use of monistic or dualistic decision structures. Delegation of the daily management. The setting up of specific management, remuneration and audit committees.

Apart from establishing a new company, another option for two or more companies is to consider a joint venture, with the agreement determining the legal implications of the project. All aspects will then be freely negotiated by the parties to the agreement. In addition, an investor can consider establishing a branch in Belgium. A branch must be governed by the same legislation as Belgian companies but it will have the additional obligation to submit consolidated annual accounts.

However, it cannot possess distinct legal personality and the foreign company will remain the direct owner of the assets and the liabilities. Consequently, the foreign company enters into all contracts. There are also non-commercial representation offices, where the legal representative must register with the authorities on an individual basis.

The representative will be the only person liable to those authorities because legal personality is not granted to non-commercial representation offices. Therefore, official actions such as invoices must be sent by the legal representative.

Belgian law does not recognise the concept of trusts. Individuals investing in shares and loan capital. This withholding tax is in most cases the final tax on the investment income. To manage compliance, most foreign investors use the services of intermediaries for example, banks or other financial institutions.

Private Privak In , the Belgian legislator introduced an investment vehicle for private equity investments, called the "Private Privak". This vehicle combines the advantages of legal personality with de facto tax transparency. The Private Privak is only taxed on a limited basis disallowed expenses other than capital losses on shares, received abnormal or benevolent advantages, and the secret commissions tax , if it invests only in: "Good" shares, qualifying for a dividend received deduction subject to tax conditions.

Shares of other Private Privaks. Temporarily or accessorily in cash and cash equivalents Private Privak of the first category. If the Private Privak invests in other allowed financial instruments issued by non-listed companies, it will be subject to the normal corporate income tax regime Private Privak of the second category.

There is no obligation for Belgian resident individual investors to report these distributions in a Belgian tax return. Going concern distributions to non-residents are exempt from withholding tax if they stem from other income than Belgian dividends. Liquidation and redemption bonuses from a Private Privak first category do not constitute movable income, and are therefore not subject to withholding taxes. Certain regulatory conditions on investment funds apply.

The Private Privak is a good investment vehicle for equity-based funding. It is not efficient for investment in debt-financed assets. What are the circumstances under which a business becomes liable to pay tax in your jurisdiction? The jurisdiction of incorporation is irrelevant. Belgian companies are subject to corporate income tax on their worldwide income.

Profits realised by foreign permanent establishment based in a tax treaty jurisdiction are exempt from Belgian corporate income tax. Dividend income derived from foreign subsidiaries is tax exempt provided: The subsidiary meets the tax condition. The shares were held for an uninterrupted period of at least one year. The acquisition value of the shares in the subsidiary is at least EUR2. Non-resident companies doing business in Belgium are liable to corporate income tax for non-resident entities if their business constitutes a permanent establishment PE.

Where the non-resident company is located in a jurisdiction that did not conclude a double tax treaty with Belgium, the Belgian broad internal law definition of PE applies. As a matter of fact, any physical presence in Belgium or activities of a dependent agent can constitute a taxable permanent establishment. Where the foreign investor is located in a jurisdiction that concluded a double tax treaty with Belgium, the PE concept will be defined in the applicable treaty.

A PE then exists if the foreign enterprise has a right of use to a fixed place of business that is used to carry on business activities. A "personal" PE exists if a dependent agent for example, an employee habitually exercises the authority to conclude contracts in Belgium.

An independent agent for example, a commissionaire will only constitute a PE if its activities go beyond the normal activities of an intermediary. Exemptions exist for preparatory or auxiliary activities for example, keeping a stock of goods for delivery or demonstration purposes, collecting information and research activities. An analysis must be made on a case-by-case basis.

For tax purposes, non-resident companies are subject to corporate income tax on all income attributable to a PE in Belgium. Foreign companies may also be liable for social security contributions and wage tax if the income of the employees is taxable in Belgium under the applicable tax treaty or if salary expenses have been deducted in Belgium for tax purposes.

Belgium does not have a net wealth tax on corporate investments. What are the main business tax rates? The corporate income tax reform provided a corporate tax rate reduction. Belgian companies are subject to corporate income tax at A special tax rate of Corporate taxpayers must file a corporate income tax return within the deadline announced by the tax authorities generally six to eight months after the end of the financial year.

A notice of assessment is then sent to the taxpayer. A corporate income tax payment is then due within two months after receipt of the notice of assessment. A surcharge amounting to 6. No state or local taxes apply on corporate income tax. Depending on the volume of their taxable transaction, monthly or quarterly VAT returns must be filed. Companies must also file an annual client list.

In addition, companies engaged in intra-European transactions must also file Intrastat returns. Other specific VAT compliance obligations may apply depending on the nature of the business. If VAT does not apply, registration duties imposed by the regions will be due. Depending on the region where the real estate is located, the following rates apply on real estate transactions: Brussels and Walloon region: A transfer of shares generally does not trigger transaction taxes, except in stock exchange transactions where a 0.

A double tax treaty. Formalities filing a withholding tax return and paying withholding tax must be complied with by the debtor of the dividend, interest or royalty within 15 days after payment or accrual. The Belgian corporate income tax regime provides for an exemption from capital gains on shares that fulfil the following three conditions: The shares have been issued by a company taxed in the normal way.

They are held for an uninterrupted period of at least one year. They have an acquisition value higher than EUR2. Where the shares were held for a period shorter than a year, a special tax rate of Capital gains on other types of assets are still taxed at the standard corporate tax rate. This tax can be deferred when the company owns assets for five years. The capital gain is exempt first. In the case of qualifying reinvestment, the capital gain becomes taxable in proportion with the annual depreciation allowed on the reinvestment's assets.

What is the tax treatment in your jurisdiction of profits from an investee company remitted outside your jurisdiction by an investor? The company issuing the shares must be subject to a normal tax regime and where this condition is not met, the default corporate income tax rate Short term capital gains realised within a year of acquisition on shares are taxed at Capital losses on shares are in principle not tax deductible. Interest income is taxable at the default corporate income tax rate.

Resident for tax purposes under the applicable local tax law and double tax treaties. Subject to corporate income tax. Under Belgian law, the dividend withholding tax for EU parent companies also applies to distributions to a corporate shareholder based in a jurisdiction that has a double tax treaty with Belgium if the applicable treaty has an exchange of information clause. The exemption is subject to the same conditions that apply to dividend distributions to EU-based parent companies.

Belgium has an extensive tax treaty network. Most double tax treaties provide for an exemption or reduction of the applicable withholding tax rate if certain conditions are met. The following exemptions may be relevant for foreign investors: Belgium has transposed the Amended Interest and Royalty Directive into law. An interest withholding tax exemption applies if interest is paid to an associated company resident in another EU member state. These holding requirements must be met for an uninterrupted period of at least one year.

It is also required that all companies are incorporated in one of the legal forms listed in the annex to the Amended Interest and Royalty Directive and that the companies are subject to corporate income tax. A withholding tax exemption also applies to interest payments to Swiss resident companies.

This holding condition must be met for at least two years and other conditions also apply. Most double tax treaties concluded by Belgium provide additional withholding tax reductions or exemptions. In all cases, certain formalities must be complied with to claim withholding tax exemptions or reductions. For Belgium taxes at source, final beneficiaries are not subject to tax.

There are no restrictions on the remittance of profits outside Belgium. Transfer pricing rules apply to all transactions concluded between related entities. Entities can be related from either: A legal perspective shareholding, joint directors, rights to appoint directors or to take key decisions in a company. An economic perspective. Belgium generally adheres to the OECD transfer pricing guidelines as amended in the context of the base erosion and profit shifting project.

The following rules apply: A non-arm's length benefit abnormal or benevolent advantage granted by a Belgian company to a foreign resident related company will be added back to the taxable basis of the Belgian company. Certain tax deductions including deduction of carried-forward and current-year tax losses cannot be offset against the portion of the profit stemming from a non-arm's length advantage received by a Belgian company, irrespective of whether the advantage is granted by a Belgian resident or a foreign resident company.

According to case law, this rule results in the non-arm's length advantage being subject to Belgian corporate income tax in any event. Interest deductions are limited as follows: Interest paid to entities outside the EEA that are exempt from tax or that benefit from a substantially more advantageous tax regime than the Belgian corporate income tax regime tainted entities will not be deductible unless if it can be demonstrated that: the debt relates to "real and genuine" transaction; and the conditions of the loan are at arm's length.

Interest expenses are also disallowed to the extent that the total intercompany debt, and debt to "tainted entities" exceed five times equity thin capitalisation rule. Some limited exceptions apply, as well as a special netting rule for some companies engaged in qualifying intra-group centralised treasury management transactions for example, cash pooling.

Incentives What tax incentive or other schemes exist to encourage foreign investment? The BIR applies to profits resulting from the exploitation of the following intellectual property rights: Patents and additional protection certificates.

Plant variety rights applied for after 1 July or acquired after 30 June Orphan medicinal products limited to the first ten years after registration applied for or acquired after 1 July Data or market exclusivity rights granted by a competent authority on crop protection chemicals protected under applicable EU law or similar rules of national or international law during the first ten years of protection. The company applying for the deduction must be the full owner, co-owner, usufructuary, licensee or rights owner rechtenhouder.

Compared to the previous patent income deduction, the scope of the BIR has been substantially extended. The new deduction applies to royalty income or on "deemed royalties" that is, royalties that a company would have to pay under arm's length conditions for the use of the protected technology , rights or software. It has now been clarified that the new deduction also applies to process patents, indemnities and, under specific conditions, capital gains.

The BIR is calculated on the net profit generated by qualifying intellectual property rights. Unclaimed BIR for example, in the absence of sufficient taxable income can be carried forward for an unlimited period of time. The deduction can already be claimed pending the decision on whether the intellectual property right will be granted or not.

Investment guarantees What is your government's track record in this regard? The only expropriation possible in Belgium is expropriation in the public interest, which is strictly regulated in the Laws of 17 April , 27 May and 9 September The Constitution enshrines this right in Article In the procedure, a negotiation is conducted to determine the appropriate compensation. In the event of continuous disagreement between the state and the investor, an independent judiciary expert can be appointed to assess the valuation of the property.

In an amicable settlement, a judge's reasoning on the fairness of the compensation is always available where public interest must be shown by the state. If no agreement can be reached, only a judgment can issue an expropriation order. The compensation must be the amount of a property equal in value to the one expropriated and must encompass full reparation of the damage suffered. Exceptionally, an extreme urgency procedure is provided in the Law of 26 July Under certain conditions, and if the state does not use the property for the purpose invoked in the expropriation procedure, the expropriated owners or their successors can reclaim ownership of the expropriated property.

If treaties provide clauses that apply to the case at hand, those provisions will prevail. There were 31 pending expropriation procedures in total at 31 December In the last three years, the state began a single expropriation procedure in , none in and eight in Are there any issues in relation to the enforcement of intellectual property rights?

Considering that Belgium participates in most international treaties, a high standard of protection for intellectual property is provided. Provided the intellectual property rights comply with the competition rules, no issues are experienced in relation to their enforcement. Nationals and foreign investors have a wide range of criminal and civil enforcement measures at their disposal. Customs enforcement is covered by the IPR Regulation.

For the benefit of right holders, preliminary injunctions are available through summary proceedings. If the injunction is granted after hearing only one party, the delay in obtaining the order is two to eight days. The delay ranges from three weeks to three months for proceedings where all sides are heard.

Claimants can make use of ex parte injunctions because they are granted with ease and can significantly disturb the other party's business. To counter abusive use of these orders, a party can file a protective letter with the competent court. Claimants' objectives might be to obtain evidence of an infringement, or an act that can constitute an infringement. In this case, judges sometimes refuse to grant preliminary orders, forcing the right holder to seek for another remedy.

To apply for an injunction, a claimant must show prima facie validity of its right and must follow up with an action on the merits of the case. For example, the prima facie validity of a registered patent must take into account foreign judgments on parallel branches of the patent.

The mere fact that it has not been invalidated by a final decision is not sufficient to prove prima facie validity of the patent. These proceedings on the merits are comparable to summary proceedings but open up the possibility of a counterclaim to invalidate the intellectual property right relied on by the claimant. Notably, no distinction is made between Belgium nationals and foreign nationals willing to enforce a foreign award or judgment.

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