This book, initially intended for students of the Solvay Business School, aims to provide tax practitioners, lawyers, accountants and business managers with practical support for assessing accounting and tax issues related to transactions carried out by a Belgian company in all aspects of business life, while constituting a source of useful references in each of the subjects taught (e.g. CNC opinion, IAS/IFRS standards, case law, etc.).
Written by Hugues Lamon, PwC Partner, Tax Advisor and Lecturer at the Executive Master in Tax Management and Alexis Van Bavel, PwC Partner, Registered Auditor and Lecturer at the Executive Master in Tax Management.
Preface by Jean-Paul Servais: Chairman of the FSMA (Financial Services and Markets Authority).
The purpose of this book is to cover, in a didactic and systematic way, the accounting and tax aspects based on the diagram of the annual accounts. This is the fifth edition of the work, previously published under the title: Tax Aspects of Accounting and Technique of Tax Reporting.
Tax law has undergone considerable changes in the recent years, following the evolution of the international framework resulting from the work of the OECD on "BEPS" (Base Erosion and Profit Shifting) and the new initiatives taken by the European Commission in this regard. Including, among others, the anti-abuse directive – “ATAD” (Anti-Tax Avoidance Directive). These provisions are now implemented in Belgian tax law following the 2018-2020 tax reform and are fully covered in the book including, the intra-group transfer regime, the rules limiting the deductibility of interest (30 % EBITDA), CFCs, the basket regime (limitation of certain deductions), the deduction regime for innovation, the provisions in terms of hybrid financing, etc.
Accounting law has also undergone significant changes following the transposition of the revised European accounting directive and the introduction of the Companies and Associations Code, as well as a significant update of many opinions of the ever-increasing CNC, influenced by IFRS standards.
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