In order to safeguard the deductibility of payments made to certain beneficiaries, companies and self-employed persons are required to report these payments on a form 281.50. These forms must be submitted annually by June 30th for payments made during the previous calendar year.
This obligation exists amongst others for the payment or granting of commissions, fees, brokerage fees, trade or other refunds, attendance fees, bonuses, (management) fees or benefits in kind which are taxable professional income for the recipients and which are not subject to the accounting obligations as included in the Code of Economic Law (amongst others the preparation of annual accounts) or for which no invoice has been issued.
Payments to foreign beneficiaries must in any case be mentioned on a form.
However, if the total amount per recipient per year is less than EUR 125.00, no form needs to be drawn up.
The regulation itself will not change. The obligation to draw up forms 281.50 will remain in full force.
It will only be abolished for payments following the supply of goods or services within the European Economic Area (EU, Iceland, Norway and Liechtenstein) and where such transactions are subject to a legal or regulatory obligation to issue an "invoice or a document in lieu".
Furthermore, it is left to the King to set a ceiling below which no forms must be drawn up. However, this ceiling may not exceed EUR 1.000 per year per recipient.
The changes would come into effect for payments made from 1 January 2021 and therefore already apply to the forms that must be submitted before 30 June 2022. The draft bill still needs to be approved.
The relaxation for foreign beneficiaries is likely to lead to a reduction in administrative obligations for some taxpayers. For the ceiling, we still have to wait.