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VAT consequences of giving away goods for free

You give goods for free As an entrepreneur, you sometimes take goods from your stock to supply them for free: You are a smartphone seller and give a smartphone from your stock to your daughter; You run a bookstore and give a number of books to a school for the annual...

How to report extra earnings without additional taxation?

For voluntary work and services from citizen to citizen As from 15 July 2018 small jobs for consideration should be reported. In case an association relies upon someone to do some tasks in his spare time, the association should report this. It concerns paid services...

Tax shift and corporate tax reform in 2019

Last phase of the tax shift In 2019 the last phase of the tax shift will be rolled out for personal income tax: further increase of the tax work bonus of 28,03% up to 33,14% of the effective granted social work bonus;broadening of the application of the 40% rate...

Immovable letting as from 1 January 2019

Landlord and tenant opt for the application of VAT Landlord and tenant should opt together to apply VAT to the rent. The tenant should use the immovable property for its economic activity (an exempt VAT payer, e.g. a doctor, also qualifies). When both parties opt to...

Benefit in kind for a house: factor 2 instead of 3,8

The inequality … Until recently the lump sum benefit in kind for the free use of a house was calculated in different ways: House put at the disposal by a private individual: cadastral income of the house x 100/60; House with a KI lower than 745 euro put at the...

Private pension savings : opt for 960 or 1.230 euro?

Save a higher or lower amount? Do you make private pension savings? As from 2018 you can choose between two maximum amounts: You can save up to 960 euro (threshold for tax year 2019, savings in 2018) at 30% resulting in a tax advantage of 288 euro. You can save up to...