A recurring phenomenon
17/09/2020

Every year, between June and the end of October, they arrive on our shores in their millions and gradually spread throughout the land, eventually occupying the whole of Belgium’s territory.

Some come alone. Others arrive as couple, but all of them are characterized by their white, black and red color scheme.

It is of course… the income tax return!

With over 800 different codes, completing your Belgian income tax return is already a pretty tricky business.

As this documentary has shown, when the Cayman tax is involved, even more attention must be paid.

A survival guide

Explorers who have followed our adventures are now forewarned and forearmed. Let’s recap our top tips for tackling the cayman (tax)!

Vigilance is a virtue
Explorers may find themselves in the cayman’s jaws without ever having realised he was anywhere in the area. On the rare occasions when the cayman has the courtesy to hiss before launching an attack, explorers are advised to back away slowly to avoid the most serious injuries.

Ignoring or trying to walk away from the Cayman tax in your income tax return is not recommended. Vigilance and close adherence to the instructions for interaction are the only safe means to avoid bite marks.

Send out the search party in good time
It is easier for a blind person to tell a cayman from a crocodile than for a Belgian resident to spot a Cayman tax target. Hunting down the latter typically takes time.

Belgian residents will need to perform a thorough investigation to determine whether or not they are dealing with a targeted entity and what the exact consequences are for their Belgian income tax return. Avoid crocodile tears and send out the search party in good time!

Learn how to handle the hunter
Like creatures sharing a habitat with their predator, Belgian residents who are the founder and / or beneficiary of a targeted entity must learn how to handle the hunter in their income tax return if they want to keep all fingers.

Belgian residents not complying with the Cayman tax rules can expect a serious telling off!

Channel your inner Crocodile Dundee

As the deadline for the Belgian income tax return is approaching, this documentary comes to an end.

We have very much enjoyed our adventures and hope all explorers have learned more about this creature called ‘the Cayman tax’.

Please do not hesitate to reach out to us for all your Cayman tax related questions when channeling your inner Crocodile Dundee in your income tax return!

Related : Loyens & Loeff CVBA ( Mrs. Saskia Lust ,  Ms. Barbara Albrecht )

[+ http://www.loyensloeff.com]

Mrs. Saskia Lust Mrs. Saskia Lust
Partner
saskia.lust@loyensloeff.com
Ms. Barbara Albrecht Ms. Barbara Albrecht
Senior Associate
barbara.albrecht@loyensloeff.com

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