We offer the following services:
- Book-keeping
- Preparation and submission of VAT returns
- Preparation of either monthly, quarterly or yearly management accounts
- Preparation of accounts
- Completion and filing of company tax returns
- Registration of new business’s for tax and VAT
- Tax advice for small/medium sized businesses and individuals
BUSINESS SET UP
You can set up the following types of business in Belgium:
- Private Limited Liability Company (S.P.R.L./B.V.B.A.)
- Public Limited Company (S.A./N.V.)
All businesses have a legal requirement to keep full and complete books and records.
LIMITED COMPANIES (SPRL/BVBA)
Most common form of business set up in Belgium.
PUBLIC LIMITED COMPANIES (SA/NV)
SA/NV status is mainly favoured by large enterprises.
SOLE TRADER
This is when you trade as an individual
MAIN TAXES IN BELGIUM
There are two main kinds of tax in Belgium:
Corporate Tax
Personal Income Tax
Certain types of income may require additional taxes, such as Capital Gains Tax.
CORPORATION TAX
This is based on the profits of the business:
The basic rate is 33.99% (includes a surcharge of 3%). Certain SMEs and companies that are more than 50% owned by individuals may benefit from a progressive corporate tax rate (inc. surcharge):
| Taxable income (€) | CIT rate (%) |
| 0 to 25,000 | 24.98 |
| 25,001 to 90,000 | 31.93 |
| 90,001 to 322,500 | 35.54 |
Companies which are 50% or more owned by other companies are excluded from the progressive rates, regardless of size. All companies earning over €322,500 are taxed at 33.99%.
Corporate Tax is due on an annual basis, and paid quarterly in advance.
VAT
The general VAT rate is 21%
PERSONAL INCOME TAX
All individuals based in Belgium must pay taxes on income.
| Bracket | Annual income | Rate |
|---|---|---|
| 1 | up to €8 710 | 25% |
| 2 | €8 710 – €12 400 | 30% |
| 3 | €12 400 – €20 660 | 40% |
| 4 | €20 660 – €37 870 | 45% |
| 5 | over €37 870 | 50% |
Municipal taxes should be added to the rates above.
CAPITAL GAINS TAX
These are normally viewed as business income and are taxed at the standard Corporate Tax rates. Shares gains are one of the exceptions to this.
For further information, please contact us on +44 (0)208 421 7474 or fill in the form below:
Enquire About Our Belgium Accountancy & Tax Services
For further information, please contact us on +44 (0)208 421 7474 or fill in the form below: