BRUSSELS: Any company facing financial difficulties as a result of the March 22 terror attacks can receive withholding tax support that includes reduced penalties for late or nonpayment of taxes, tax payment installment plans and the waiving of interest amounts resulting from default, the Belgian Federal Public Service Finance said here the other day.
“It concerns every type of company — anyone who has difficulties in terms of cash flow,” a Belgian government official told Bloomberg BNA.
Generally, Belgian law requires monthly payments to be made no later than the 15th day of the month following the withholding. Companies that make quarterly payments are required to submit payments no later than the 15th day of the month following March, June, September, October and January.
Companies that file withholding tax on a monthly basis can receive payment relief from March through September 2016, while companies that file withholding taxes on a quarterly basis can receive payment relief for the first, second and third quarters of 2016, the Federal Public Service Finance said.
Affected companies must complete and submit a specific form to a Regional Recovery Center that is determined by the company’s location.
