The necessity of the Asset Test calculation
As only UCIs with more than 10% (for shares acquired after 1 January, 2018) or 25% (for shares acquired before 1 January, 2018) of their assets invested in debt-related assets are within the scope of the Belgian tax on savings income, it’s crucial for any fund distributed on the Belgian market to be able to provide Belgian investors and distributors with accurate and up-to-date information regarding its Asset Test.
The Asset Test is indeed the only accurate information for determining if a UCI(TS) is within the scope of the Belgian tax on savings income. In addition, the need to calculate the BTIS for a particular fund will depend on its Asset Test.
If no BTIS is calculated for a particular fund, the Asset Test is used to calculate the taxable amount.
The necessity of the Belgian taxable income per share (BTIS) calculation
The BTIS computes, upon each net asset value (NAV) calculation (so potentially on a daily basis), the share of the NAV consisting of income (unrealised and realised) from debt-related assets.
In case a BTIS is calculated for the fund, the taxable basis of the investor will be equal to the difference between the BTIS on the date of sale or redemption and on the date of acquisition.