Banking law


CJ rules that limitations to the Belgian notional interest deduction regarding exempt foreign permanent establishments are in line with the freedom of establishment (Argenta Spaarbank)

CJ rules that limitations to the Belgian notional interest deduction regarding exempt foreign permanent establishments are in line with the freedom of establishment (Argenta Spaarbank)
25/11/2019

On 17 October 2019, the CJ issued its judgment in case Argenta Spaarbank (C-459/18). The case deals with the calculation of the notional interest deduction (deduction for capital risk) in the case of a Belgian company that has a Netherlands permanent establishment the income of which is exempt under the double tax treaty signed between those countries. The CJ concluded that there is no actual difference between how the deduction applies to domestic and foreign permanent establishments.

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Saisissez plus facilement un compte bancaire dans toute l’UE !

Saisissez plus facilement un compte bancaire dans toute l’UE !
20/11/2019

A l’heure actuelle, lorsque l’on souhaite effectuer une saisie sans connaître la banque auprès de laquelle le débiteur a ouvert un compte, elle est pratiquée simultanément auprès des plus grands établissements bancaires belges en espérant y trouver quelque chose.

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Europe pushes companies one step further towards sustainable investments

Europe pushes companies one step further towards sustainable investments
21/10/2019

The European Commission has underlined the importance for companies to publish sufficient, reliable and comparable sustainability-related information to effectively direct capital towards sustainable investments.

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American Belgians risk losing their Belgian bank account in 2020

American Belgians risk losing their Belgian bank account in 2020
26/08/2019

As recently communicated in the Belgian media, Belgians with the American nationality risk losing their Belgian bank accounts because of the strict application of the U.S. FATCA-legislation. In application of the FATCA (Foreign Account Tax Compliance Act), which is also applicable in relation to U.S. citizens residing in Belgium, financial institutions outside the U.S. (such as Belgian banks), must provide specific data to the U.S. Tax Authorities (IRS) about the bank accounts of these American nationals

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Banker's oath and disciplinary regime

Banker's oath and disciplinary regime
11/07/2019

An Act dated 22 April 2019 amends the Banking Act of 25 April 2014 on the status and supervision of credit institutions and brokerage firms in order to introduce a banker's oath and a disciplinary regime.

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2019, the year of truth for open banking (RTS - SCA)

2019, the year of truth for open banking (RTS - SCA)
29/01/2019

In the world of Payments and FinTech, PSD2 has been a hot topic for several years now. Last year was already a crucial year with the transposition deadline of this directive scheduled for 13 January 2018.

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Brexit Financial institutions wishing to continue doing business in the UK must apply for permission by 28 March 2019

Brexit Financial institutions wishing to continue doing business in the UK must apply for permission by 28 March 2019
28/01/2019

Given the latest political developments in the UK, a hard Brexit is becoming a more tangible reality. Belgian financial institutions doing business in the UK will be severely affected in a no-deal scenario

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Mr. Jan Peeters
Mr. Jan Peeters

Ultimate Beneficial Owners Register operational as of today – Compliance required by 31 March 2019
27/09/2018

he Anti-Money Laundering Act of 18 September 2017 (the “AML Act”) set up a central register at the Treasury Administration(the “UBO Register[1]”) to which all Belgian companies (and certain other legal entities) have to provide information on their Ultimate Beneficial Owner (“UBO”).

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Mr. Luc Germonpré

The UBO register - The current state of affairs
14/09/2018

The law of 18 September 2017 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and limitations to the use of cash implements the Fourth European money laundering Directive 2015/849 into Belgian law.

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Belgian Entities Required to Disclose their UBOs before 30 November 2018

Belgian Entities Required to Disclose their UBOs before 30 November 2018
28/08/2018

This newsletter gives a brief overview of the practical aspects of a new obligation for Belgian entities to gather information about their ultimate beneficial owners (UBOs) and enter it in a central UBO register.

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