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In ESG

European Union: Commission tables proposal for Green Claims Directive

by , and 6 Mins Read

On 22 March 2023, the European Commission tabled a proposal for a Directive on substantiation and communication of explicit environmental claims.
The proposal aims to harmonize the evaluation and monitoring of voluntary environmental claims – often referred to as “green claims” – towards EU consumers and control the proliferation of public and private environmental labels. Complementing the March 2022 proposal for a Directive on empowering consumers for the green transition as a lex specialis by providing more specific requirements on the substantiation, communication and verification of green claims, it contributes to the fight against “greenwashing”.

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In AML & Financial Services Regulatory

Belgium: Financial watchdog tightens rules on crypto advertising

by , and 1 Min Read

The Belgian Financial Services and Markets Authority has introduced stricter rules for commercializing virtual currencies, such as Bitcoin or Ether, among consumers in Belgium. Among others, advertisements must contain the disclaimer “Virtual currencies, real risks. The only guarantee in crypto is risk.” In addition, mass advertising campaigns to more than 25,000 people must be notified to the regulator 10 days in advance.

In Tax

Belgium: Beneficial ownership — impact on Belgian audit practices and litigation [Webinar]

by , and 2 Mins Read

Since the decisions of the European Court of Justice in the so-called “Danish cases”, passive income streams are being scrutinized more than ever across Europe. This is not different in Belgium, where we have seen a substantial increase in tax audits focusing on passive income streams where withholding tax is being claimed also in the framework of business-driven structures.

In Whistleblowing

Belgium: New obligations under the Belgian Whistleblower Act for private entities – Immediate action required

by , and 8 Mins Read

On 23 October 2019, the European Parliament and the Council adopted Directive (EU) 2019/1937 on the protection of persons who report breaches of Union law, informally referred to as the “EU Whistleblower Directive”.
Belgium has implemented the EU Whistleblower Directive separately for the public and the private sectors, with the Act of 8 December 2022 on reporting channels and protection of whistleblowers in federal public sector bodies and the integrated police, and the Act of 28 November 2022 on the protection of whistleblowers of breaches of Union or national law established within a legal entity in the private sector, published on 15 December 2022, which came into effect on 15 February 2023.

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In Whistleblowing

Belgium: Employment law aspects of the Whistleblower Act

by , , and 3 Mins Read

The Belgian act implementing EU Directive 2019/1937 (“Whistleblower Act”) requires legal entities in the private sector to establish channels and procedures for internal reporting and follow-up of reports in specific areas. In this context, the Whistleblower Act established a particular method to calculate the employee headcount within the legal entity with reference to the Belgian legislation on the social elections. However, there has been some uncertainty about how this reference should be applied in the context of the Whistleblower Act.

In

Belgium: New corporate tax measures

by , and 7 Mins Read

Various new corporate income tax measures entered into force in Belgium as of 1 January 2023, the most impactful being a temporary increase of the minimum corporate tax base under the so-called “basket rule”. This measure will be in force until the European Minimum Tax Directive (Pillar Two) is implemented into Belgian legislation and takes effect (in principle as of 1 January 2024).

In Employment

Belgium: The impact of the EU directive on transparent and predictable working conditions

by , and 5 Mins Read

The EU legislators aim to promote more transparent and predictable employment, while ensuring labor market adaptability. To reach this goal, the EU directive on transparent and predictable working conditions and its implementation law impose certain information obligations on employers, and also lay down new minimum standards regarding working conditions that have to be guaranteed. In the case of noncompliance, sanctions (up to level 3) can be imposed.

In Product Regulation & Liability

Multijurisdictional: 2022 Chambers Advertising & Marketing Practice Guide

by , , , , , , , , and 1 Min Read

Baker McKenzie was invited to serve as the global editor of the Chambers Advertising & Marketing 2022 Practice Guide which features 8 high-profile jurisdictions and provides the latest legal information on the impact of the COVID-19 pandemic, advertising claims and clinical studies, comparative advertising, social/digital media, influencer campaigns, consumer promotions, sports betting/gambling, and cryptocurrency and non-fungible tokens.

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