Belgium

Global Compliance Management Services 

Today's unprecedented economic challenges are forcing companies to rethink the way they do business. For many, this includes taking a closer look at how they manage their compliance obligations on a world-wide basis.
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Today's challenges

  • (Electronic) tax return requirements (Biztax / forms 281)
  • Tax return preparation is often time consuming, and manual, not standardized
  • Increased regulatory pressure from tax authorities and more systematic approach to tax audits
  • Manage a tax function globally (via centralized resources)
  • Combine pro-active planning with increased tax compliance burden and audits
  • Improve connectivity between tax function and other business areas

How we can help

  • ‘Paperless’ corporate tax return process : TaxPack
  • eFox
  • On the basis of a tax return process quick scan, KPMG can identify on short notice process improvements and where manual work can be replaced by automation.
  • KPMG’s tax return process includes the use of standard online checklists (e-Questionnaire) aiming at assuring a completeness check, as well as an identification of tax opportunities and attention points, anticipating on possible questions at the occasion of a tax audit.
  • Tax reporting cube
  • Recapture Tool
  • Biztax
  • KPMG has a strong international compliance network (GCMS) to support global tax headquarters in a streamlined and standardized way, tailored to their real needs.
  • KPMG has developed a secure web –based application, KPMG LINK 360, allowing global tax headquarters to manage their worldwide compliance operations more efficiently and to help them to get key management data more accurately in order to free more time for added-value forward thinking.
  • KPMG assists in developing and embedding processes to facilitate better integration and collaboration with other business areas.

Latest news

  • As of 2014, all resident corporate income tax returns should be filed electronically using Biztax. Paper filings are still allowed for legal entities and non-resident corporate income tax returns.
  • As a general rule, above mentioned tax returns should be filed one month after the approval of the financial statements, but no later than 6 months after the closing of the financial year (art. 310BITC).
  • Tax authorities grant following extensions for filings connected to the tax assessment year 2014:
    - 3 October 2014 for corporate income tax returns which are legally due in the period until 3 October 2014;
    - 22 October 2014 for legal entities and non-resident corporate income tax returns which are legally due in the period until 22 October 2014;
    - 15 January 2015 for tax returns legally due 31 December 2014.

 

Example Corporate Income Tax:

  • Closing date financial year: 31 December 2013
  • Approval financial statements: 15 June 2014
  • Ultimate filing date corporate tax return: 3 October 2014

Belgian Compliance Management Services

  • Centralized, dedicated and multidisciplinary compliance services team.
  • Integrated solutions on entity and group level.
  • Extensive experience in (local) compliance management in its broadest sense.
  • Clear objectives of quality, process improvement, standardization and controls.
  • Prepared for electronic tax filings (Biztax, forms 281.50, INTERVAT, IDEP/OneGate, ...).
  • Technology solutions for efficient compliance preparation and management.

Global Compliance Management Services (GCMS)

  • Core GCMS team situated in Belgium for feedback at country and regional/global level.
  • Management of various inbound and outbound compliance engagements.
  • Thorough understanding of a changing and challenging international business and regulatory environment.
  • Flexible, qualitative and efficient global compliance assistance.
  • Collaboration model tailored to the specific needs and requirements of the client.
  • Assisting clients active in multiple industries.

 Improving the legal compliance of your ERP system

 
  • ERP Tax advisory team using the synergy of skills and expertise of ERP and tax professionals.
 
  • Unrivalled experience in implementing and improving Tax and reporting functionalities of ERP systems.
 
  • Domestic and international clients.
 
  • Form a bridge between IT, Finance, Logistics and Business Management.
 
  • Achieve an accelerated ERP Tax Solution aligned with best practices.

 

 ‭(Hidden)‬ Compliance insights

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Frank Vancamp

Frank Vancamp

Partner

+32 (0)27083670

Schedule your appointment today!

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