FSI Tax Alert (11/10/2013)
Reasoned opinion concerning Belgian annual tax on undertakings for collective investment
In a 26 September 2013 press release, the European Commission announced that it sent a reasoned opinion to Belgium, officially requesting it to amend the legislation concerning the annual tax on collective investment institutions.
The Belgian Inheritance Tax Code provides for an annual tax on, among others, undertakings for collective investment (regardless of tax transparency). This annual tax is calculated based on the number of shares / units (deemed) placed in Belgium, multiplied by the net asset value per 31 December. It is assessed by compartment / class of shares, where applicable. The law of 30 July 2013, containing various fiscal and financial measures, provided for a rate increase from 0.08% to 0.0965% as of 1 January 2013 and to 0.0925% as of 1 January 2014.
Click on the below link to view and download the full alert article.
Full article (click on title to open)