Month: May 2024
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CS3D is finally in sight after many hurdles
1. What does the CS3D entail? CS3D describes the steps that companies are obliged to take as part of their due diligence obligations. Companies covered by it are legally obliged to investigate how their activities and their supply chain affect the environment and human rights. Further, they must be able to demonstrate what actions they will…
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Small companies, large tax breaks
1. What exactly will change? From financial year 2024 (for companies that keep their accounts per calendar year), the thresholds for determining the size of a company will change as follows: Old thresholds New thresholds Annual average number of employees 50 50 Annual turnover (excluding VAT) EUR 9,000,000.00 EUR 11,250,000.00 Balance sheet total EUR…
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Influencers, the rules applicable to your social media marketing
1. Influencers are undertakings Unlike France or Italy, for example, Belgium has no specific legislation regarding influencers or social media marketing. The question therefore arises as to which rules influencers must comply with in Belgium. According to Belgian (and European) law, influencers are considered “an undertaking” when they advertise or sell products on a regular…
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New reporting obligation regarding corporate tax information
1. Who is required to comply with the reporting obligation? Since February 5, 2024, certain companies and branches are obligated to compile and disclose a report on income tax information. We will briefly outline below who must comply with this reporting requirement, and for whom exemptions may apply. 1.1 Stand-alone companies The reporting obligation under…