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Benefit in kind for company cars reduces in 2019

Benefit in kind based on a formula List price x CO2-percentage x 6/7 x age factor. The CO2-percentage and the emission reference level The base CO2-percentage of 5,5% is linked to a reference emission level. This reference emission level is expressed in gram per...

Privacy of tax payers after GDPR

GDPR Since 25 May 2018 the GDPR rules apply in the entire European Union. This European Regulation states how and why data can be collected, kept and processed. Every company, association or authority which processes personal data is subject to these rules. In...

When is restaurant expenditure deductible?

69% limit The deduction of professional restaurant expenditure is limited to 69%. When and with who? Only restaurant expenditure with a professional character is deductible. Do you have a private diner party, then you cannot deduct these costs. In this case...

VAT consequences of giving away goods for free

You give goods for free As an entrepreneur, you sometimes take goods from your stock to supply them for free: You are a smartphone seller and give a smartphone from your stock to your daughter; You run a bookstore and give a number of books to a school for the annual...

How to report extra earnings without additional taxation?

For voluntary work and services from citizen to citizen As from 15 July 2018 small jobs for consideration should be reported. In case an association relies upon someone to do some tasks in his spare time, the association should report this. It concerns paid services...

Tax shift and corporate tax reform in 2019

Last phase of the tax shift In 2019 the last phase of the tax shift will be rolled out for personal income tax: further increase of the tax work bonus of 28,03% up to 33,14% of the effective granted social work bonus;broadening of the application of the 40% rate...