Belgium Companies Can Now Make Advance Payments For Minimum Tax

Multinational firms in Belgium can make advance tax payments under the global minimum corporate tax rules, starting Monday.

Advance payments must be made by Dec. 20 at the latest, according to a Friday announcement from the Belgian Ministry of Finance.

• Belgian law allows a surcharge to be applied if advance payments aren’t made.
• The advance payment option is applicable for top-up taxes under the so-called Qualified Domestic Minimum Top-up Tax and Income Inclusion Rule regimes, which are applied if there’s a discrepancy between corporate tax rates in the different jurisdictions that a multinational operates in. It ensures ...