First published in Global Tax Weekly, 18 August 2016
The Belgian Parliament has enacted a series of new rules on transfer pricing (TP) documentation, which will have a substantial impact on the substance and format of TP documentation (Program Law of July 1, 2016, published in the Belgian Offi cial Gazette of 4 July 2016). This article offers an overview of the new TP documentation rules applicable as from tax year 2017.
As a result of this new legislation, Belgium has joined the group of tax jurisdictions that have introduced country-specific transfer pricing requirements. Belgian resident and non-resident corporate taxpayers need to consider the new requirements and take the necessary steps and actions to comply with these in a timely manner.