Belgium Requires Reporting of Payments to 4 Noncompliant Jurisdictions
Belgian tax authorities on September 3 published an addendum to practice note Ci.RH.421/607.890 (AAFisc nr. 64/2010), commenting on the list of states that have not "effectively" or "substantially" implemented the OECD standard on the exchange of information.
Since January 1, 2010, Belgian companies and the permanent establishments of foreign companies have been required to report in their annual tax returns all (direct and indirect) payments totaling €100,000 or more that they have made to tax havens (article 307, Income Tax Code, 1992). Payments are tax deductible only if the taxpayer can prove that the payments were made in the context of a genuine transaction and not an artificial tax avoidance scheme. Normally, if the payments are not reported, they are not tax deductible.
Belgium Requires Reporting of Payments to 4 Noncompliant Jurisdictions, Worldwide Tax Daily, 23 September 2015, 184-5