Belgium MOF Announces Proposed Reintroduction of Tax-Exempt Voluntary Overtime Hours, Extension of Tax-Efficient Overtime Hours

The Belgian Federal Public Service-Finance June 26 announced proposals to reintroduce income tax exemptions for voluntary overtime hours, and extend the end date for increased tax-efficient overtime hours. The proposals include: 1) exemption of the first 120 voluntary overtime hours distributed over the 3rd and 4th quarters of 2023, the first 120 voluntary overtime hours of 2024, and the first 120 voluntary overtime hours distributed over the 1st and 2nd quarters of 2025; 2) extension of the end date to June 30, 2025, from June 30, 2023, for the 180-hour limit on tax-efficient overtime, which is subject to reduced income ...