drt tax
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Setting up a Business in Belgium
• Romeinse steenweg 1022 • 1780 Wemmel• BRUSSELS BELGIUM• WWW.DRTPARTNERS.COM• TEL +32 2 456 89 10• FAX +32 2 456 89 11
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Setting up a Business in Belgium
1.?? PERMANENT 1.?? PERMANENT ESTABLISHMENT ??ESTABLISHMENT ??
2.VAT REPRESENTATIVE
DOING BUSINESSDOING BUSINESS
WITHOUTWITHOUT
COMMERCIAL PRESENCE IN COMMERCIAL PRESENCE IN
BELGIUM BELGIUM
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Setting up a Business in BelgiumCOMMERCIAL PRESENCE IN BELGIUM• 1. SELF EMPLOYED INDIVIDUAL(registration)
• 2. BRANCH OFFICE (registration+publication)
• 3. A BELGIAN COMPANY (public notary)
ALWAYS : commercial registration + special licence for some activities+…..
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Setting up a Business in Belgium
A BELGIAN COMPANY
Type of company : SA or SPRL
Difference : share capital,shareholders,directors….
+ = limited liability,managment fees,intrest>< branch
- = statutory auditor,……
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Setting up a Business in Belgium
• BRANCH OR COMPANY IN BELGIUMBRANCH OR COMPANY IN BELGIUM
• =BELGIAN BOOKKEEPING LAW=BELGIAN BOOKKEEPING LAW
IN FRENCH,DUTCH,GERMAN….IN FRENCH,DUTCH,GERMAN….
• =PUBLICATION ANNUAL ACCOUNTS=PUBLICATION ANNUAL ACCOUNTS
• =AUDIT=AUDIT
• =CONSOLIDATION=CONSOLIDATION
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Setting up a Business in Belgium• EMPLOYMENT(1)
Formalities (e.g. workpermit =non EU)
12 months+holiday+13th onth=13.92months• INDEXATION • Termination by employer = notice period!!
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Setting up a Business in Belgium
• EMPLOYMENT(2)
• Social security =
= 13,07% employee
= 35% employer
=NO BELGIAN SOC.SECURITY IN CASE OF SECONDMENT (=UK SOC SEC)
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Setting up a Business in Belgium
• TAXATION :INCOME TAXES INDIVIDUALSTAXATION :INCOME TAXES INDIVIDUALS
• 0% TO 50%0% TO 50% • +COMMUNE TAXES+COMMUNE TAXES
• INCENTIVE= EXPATRIATE STATUS !!INCENTIVE= EXPATRIATE STATUS !!
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Setting up a Business in Belgium
• TAXATION : CORPORATION TAXTAXATION : CORPORATION TAX
• Tax rate Tax rate = 25% - 33.99%= 25% - 33.99%
• Incentives:-dividend deductionIncentives:-dividend deduction
-investment deduction-investment deduction
-notional intrest deduction-notional intrest deduction
-accelerated depreciation-accelerated depreciation
-R&D incentive-R&D incentive
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Setting up a Business in Belgium
• V.A.TV.A.T
• RATES:RATES: 0% 6% 12% 21% 0% 6% 12% 21%• MONTHLY OR QUATERLY VAT RETURNSMONTHLY OR QUATERLY VAT RETURNS• +VAT LISTINGS+VAT LISTINGS• VAT DEDUCTIBLE=VAT DEDUCTIBLE=
50% CARS (100% VAN,TRUCK)50% CARS (100% VAN,TRUCK)
0% ALCOHOL,RESTAURANT,HOTEL0% ALCOHOL,RESTAURANT,HOTEL
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Setting up a Business in Belgium
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Setting up a Business in Belgium
• Quality of Quality of lifelife
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Setting up a Business in Belgium
• UK,France,GERMANY,NL • Housing
• Health care
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Setting up a Business in Belgium
surrealistic
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Setting up a Business in Belgium
• 4 REGIONAL GOVERNMENTS4 REGIONAL GOVERNMENTS
• 3 OFFICIAL LANGUAGES3 OFFICIAL LANGUAGES
• BRUSSELS–EC HQ (REPR 27 STATES)BRUSSELS–EC HQ (REPR 27 STATES)
• SMALL COUNTRY SMALL COUNTRY
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Setting up a Business in Belgium
• 1 year = 13.92 months
• Gross salary =+35% soc.security
• SECONDMENT=uk soc sec
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Setting up a Business in Belgium
• Timing
• Government = 3 days !!!!
• Reality = 4 to 6 weeks
• Company registration nr = essential
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Setting up a Business in Belgium
• 27 EU countries =27 different governments
• UK/B/D/FR/NL/IT....VAT-bookkeeping-taxes-social-deadlines- !!!!!!!!!