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Scope of the Belgian “TIS” enlarged to EU non-UCITS funds - 03/09/2013


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On 1 August 2013 a new Belgian law was published which amends the current taxation of the deemed interest component included in the capital gains realised by Belgian tax residents on the sale of certain non-distributing investment funds  (the “Belgian TIS”).

Until that date, the taxation of the TIS only applied to EU funds covered by the UCITS Directive and to investment funds established outside the European Economic Area (EEA). With the introduction new law,  all investment funds which directly or indirectly invest their assets in qualifying debt claims (such as Luxembourg SIF or part II Luxembourg funds) and for which by-laws do not provide for the distribution of the net income are now in scope of the tax.

For further details, please find enclosed the News Alert prepared by our Belgian colleagues.

If you have any queries regarding the above, please do not hesitate to contact us.

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