DRT TAX

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DRT TAX

  1. 1. Setting up a Business in Belgium <ul><li>Romeinse steenweg 1022 </li></ul><ul><li>1780 Wemmel </li></ul><ul><li>BRUSSELS BELGIUM </li></ul><ul><li>WWW.DRTPARTNERS.COM </li></ul><ul><li>TEL +32 2 456 89 10 </li></ul><ul><li>FAX +32 2 456 89 11 </li></ul>
  2. 2. Setting up a Business in Belgium <ul><li>1.?? PERMANENT ESTABLISHMENT ?? </li></ul><ul><li>2.VAT REPRESENTATIVE </li></ul>DOING BUSINESS WITHOUT COMMERCIAL PRESENCE IN BELGIUM
  3. 3. Setting up a Business in Belgium <ul><li>COMMERCIAL PRESENCE IN BELGIUM </li></ul><ul><li>1. SELF EMPLOYED INDIVIDUAL(registration ) </li></ul><ul><li>2. BRANCH OFFICE (registration+publication) </li></ul><ul><li>3. A BELGIAN COMPANY ( public notary) </li></ul><ul><li>ALWAYS : commercial registration + special licence for some activities+….. </li></ul>
  4. 4. Setting up a Business in Belgium <ul><li>A BELGIAN COMPANY </li></ul><ul><li>Type of company : SA or SPRL </li></ul><ul><li>Difference : share capital,shareholders,directors…. </li></ul><ul><li>+ = limited liability,managment fees,intrest>< branch </li></ul><ul><li>- = statutory auditor,…… </li></ul>
  5. 5. Setting up a Business in Belgium <ul><li>BRANCH OR COMPANY IN BELGIUM </li></ul><ul><li>=BELGIAN BOOKKEEPING LAW </li></ul><ul><li>IN FRENCH,DUTCH,GERMAN…. </li></ul><ul><li>=PUBLICATION ANNUAL ACCOUNTS </li></ul><ul><li>=AUDIT </li></ul><ul><li>=CONSOLIDATION </li></ul>
  6. 6. Setting up a Business in Belgium <ul><li>EMPLOYMENT(1) </li></ul><ul><li>Formalities (e.g. workpermit =non EU) </li></ul><ul><li>12 months+holiday+13th onth=13.92months </li></ul><ul><li>INDEXATION </li></ul><ul><li>Termination by employer = notice period!! </li></ul>
  7. 7. Setting up a Business in Belgium <ul><li>EMPLOYMENT(2) </li></ul><ul><li>Social security = </li></ul><ul><li>= 13,07% employee </li></ul><ul><li>= 35% employer </li></ul><ul><li>=NO BELGIAN SOC.SECURITY IN CASE OF SECONDMENT (=UK SOC SEC) </li></ul>
  8. 8. Setting up a Business in Belgium <ul><li>TAXATION :INCOME TAXES INDIVIDUALS </li></ul><ul><li>0% TO 50% </li></ul><ul><li>+COMMUNE TAXES </li></ul><ul><li>INCENTIVE= EXPATRIATE STATUS !! </li></ul>
  9. 9. Setting up a Business in Belgium <ul><li>TAXATION : CORPORATION TAX </li></ul><ul><li>Tax rate = 25% - 33.99% </li></ul><ul><li>Incentives:-dividend deduction </li></ul><ul><li>-investment deduction </li></ul><ul><li>-notional intrest deduction </li></ul><ul><li>-accelerated depreciation </li></ul><ul><li>-R&D incentive </li></ul>
  10. 10. Setting up a Business in Belgium <ul><li>V.A.T </li></ul><ul><li>RATES: 0% 6% 12% 21% </li></ul><ul><li>MONTHLY OR QUATERLY VAT RETURNS </li></ul><ul><li>+VAT LISTINGS </li></ul><ul><li>VAT DEDUCTIBLE= </li></ul><ul><li>50% CARS (100% VAN,TRUCK) </li></ul><ul><li>0% ALCOHOL,RESTAURANT,HOTEL </li></ul>
  11. 11. Setting up a Business in Belgium
  12. 12. Setting up a Business in Belgium <ul><li>Quality of life </li></ul>
  13. 13. Setting up a Business in Belgium <ul><li>UK,France,GERMANY,NL </li></ul><ul><li>Housing </li></ul><ul><li>Health care </li></ul>
  14. 14. Setting up a Business in Belgium surrealistic
  15. 15. Setting up a Business in Belgium <ul><li>4 REGIONAL GOVERNMENTS </li></ul><ul><li>3 OFFICIAL LANGUAGES </li></ul><ul><li>BRUSSELS–EC HQ (REPR 27 STATES) </li></ul><ul><li>SMALL COUNTRY </li></ul>
  16. 16. Setting up a Business in Belgium <ul><li>1 year = 13.92 months </li></ul><ul><li>Gross salary = </li></ul><ul><li>+35% soc.security </li></ul><ul><li>SECONDMENT=uk soc sec </li></ul>
  17. 17. Setting up a Business in Belgium <ul><li>Timing </li></ul><ul><li>Government = 3 days !!!! </li></ul><ul><li>Reality = 4 to 6 weeks </li></ul><ul><li>Company registration nr = essential </li></ul>
  18. 18. Setting up a Business in Belgium <ul><li>27 EU countries =27 different governments </li></ul><ul><li>UK/B/D/FR/NL/IT....VAT-bookkeeping-taxes-social-deadlines- !!!!!!!!! </li></ul>
  19. 19. Setting up a Business in Belgium <ul><li>[email_address] </li></ul><ul><li>[email_address] </li></ul>
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