Caroline Lebon co-authored the update of her elaborate 2004 publication regarding the principles of statutes of limitations in Belgian contract law (published in the loose-leaf commentary “Artikelsgewijze commentaar verbintenissenrecht” – Kluwer).
As a first step in Belgium’s privacy reform, a new law was published today setting up a Belgian Data Protection Authority (replacing the current Belgian Privacy Commission) in anticipation of the future applicability of the General Data Protection Regulation (GDPR). With this law, the Belgian Data Protection Authority acquires substantial investigative and judiciary powers, as well as new bodies which will be able to impose the sanctions introduced under the GDPR.
While the GDPR will provide for a greater degree of harmonization than the current regime , there are approximately 50 possibilities for Member States exceptions, additional requirements or specifications to the GDPR (e.g. in terms of processing of HR data, minimum age of children for consent, situations where a DPO is mandatory). These will be the subject of a separate piece of legislation, for which no draft is currently available.
Following up on our earlier post in September, we have meanwhile been informed that the Federal Government has ultimately decided past weekend to cancel the proposed introduction of an optional mechanism to subject professional leasing to VAT for notably budgetary reasons.
We believe this is highly unfortunate. The introduction of such a system could have drastically improved the competitivity of professional tenants towards foreign competitors and could have affected the real estate market on various fronts. Importantly, the system would have eliminated the need for complex structures to make the VAT-system applicable to a priori exempted transactions.
Notwithstanding the above, it cannot be excluded that the Federal Government may still introduce more minor changes to the existing real estate VAT regimes such as regarding the putting at the disposal of storage facilities. The discussions regarding these matters is still ongoing and other initiatives may still be developed.
Our Tax practice will keep you up date regarding these evolutions via our News section.
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