The Belgian Business Federation (FEB) will not end notional tax to help cover the shortfall in the tax paid by businesses (Isoc). It is currently being studied by the government. This was all explained by administrative delegate Pieter Timmermans, who spoke to De Tijd and L’Echo on Saturday.
The FEB is in favour of a progressive rebate for the Isoc tax, and is considering dropping it from 33.99% to 24% between 2017 and 2019. The FEB wants to bring in a series of compensatory measures to find the 3.8 billion euros required for this rebate. These would include deductions, depreciations, company cars, planned transfers or past losses.
However, they are not planning to get rid of notional interest, as it’s just “economical common sense”, says Mr Timmermans. The FEB is ready to change and limit this, so it will only benefit “businesses that produce in Belgium and create added value”.
Andy Sanchez (Source: Belga)