Draft bill on the implementation of several directives on the automatic exchange of information in tax matters

On 3 July 2017, the federal government submitted a draft bill on the implementation of Directive 2015/2376/EU of 8 December 2015 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation (exchange of cross-border rulings and transfer pricing arrangements) and the partial implementation of Directive 2016/881/EU amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation as far as it concerns the exchange of the Country-by-Country reports.

The draft Bill amends article 338 of the Belgian Income Tax Code 1992, article 289bis of the Law on registration, mortgage and court fees, articles 146quater, 160bis and 162/1 of the law on inheritance taxes and article 211bis of the law In various duties and levies.

The amendments apply as of 1 January 2017. Cross-border rulings and transfer pricing arrangements issued in the first semester of 2017 will be exchanged at the latest on 30 September 2017. The first Country-by-Country reports, covering reporting periods starting on or after 1 January 2016, will be exchanged at the latest 18 months after the last day of the accounting period. Subsequent reports will be exchanged at the latest after 15 months. Ruling (valid on or after 1 January 2014) issued, renewed, or amended between 1 January 2012 and 31 December 2016 will be exchanged at the latest on 31 December 2017.

Noteworthy is that the bill, in respect of the automatic exchange of cross-border rulings and transfer pricing arrangements issued, amended or renewed before 1 April 2016, does not include the threshold option of 40.000.000 euros turnover as provided by Directive 2015/2376/EU. The bill also broadens the scope of the Directive. Rulings which have been issued after the execution of a cross-border transaction but before the tax return has been filed, are also covered.

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