Search for:
Author

Alain Huyghe

Browsing
Alain Huyghe heads Baker McKenzie's Tax Practice Group in the Brussels office, and the vice president of the Belgian branch of the International Fiscal Association. Alain has been consistently recognized over the past 15 years as a leading tax lawyer in Belgium in publications such as International Tax Review, Chambers Global, The European Legal 500, and Practical Law Company.

In anticipation of the EU DAC 7 initiative, Belgium has recently introduced “DAC 7 light” reporting obligations for digital platform operators in the sharing and gig economy. The goal is to render the income realized by service providers through these platforms more transparent and to prevent avoidance or fraud from a tax and social security perspective.

A new and extended version of the Securities Account tax was introduced in Belgium by the Law of 17 February 2021 that entered into force on 26 February 2021. The new tax takes the form of an annual tax of 0.15% on securities accounts that exceed EUR 1 million in average value (this includes financial instruments as well as the cash balance). The tax will first be due for the reference period starting on 26 February 2021 and ending on 30 September 2021.