News from Panis

(Steun-)maatregelen in het kader van de coronacrisis

Federale maatregelen

Op federaal niveau zijn heel wat maatregelen getroffen voor ondernemingen die getroffen zijn door de coronacrisis. De meeste informatie is te vinden op we website van de overheid www.info-coronavirus.be/nl/. Hieronder zetten we nogmaals en voor alle duidelijkheid alle maatregelen nog eens op een rijtje.

1. Fiscale schulden en btw

New office hours due to Corona virus

In view of the rapidly changing circumstances due to the measures regarding the Corona virus, we have decided to restrict the opening hours of our office from 9 AM until 1 PM every working day to bring your papers, this as from Wednesday 18th March 2020 until 3rd April 2020.  Our staff remains available by telephone (each one on his/her extension) and by e-mail.  

We will keep you updated in case of any changes.

We thank you for your cooperation and wish you and your family good health.

AWDC best practices guide

Panis strongly recommends every diamond company to read and apply the principles laid down in the “Best practice guide for the Belgian diamond industry”, drafted by AWDC and endorsed by the Federal Public Service Economy.

These guidelines detail the specific requirements for consignments, sales of diamonds and payments, and also contain a template of common business documents.

It also includes a template of the new aforesaid “destination document”.

The guide is available in Dutch and English, and can be found on the following website:

Ask your client to sign a destination document for intra-community sales

Intracommunity deliveries of goods are principally free of VAT. Two substantive conditions are added in order for intra-community deliveries to be zero-rated: the recipient must have a correct VAT number, and, the transaction must be reported correctly on the recapitulative statement. If one of these conditions is not met, the suppliers will be liable for the payment of VAT.

Keep a register to record consignments

A company must keep a register to record all incoming and outgoing consignments.

The register must allow one to follow-up in detail all local and foreign consignments.

For each registered consignment a company must be able to prove if the consignment was followed by a final sales, a final purchase or a return of the consignment – or prove that the consignment remains still open in case there was no movement.

Every change in the consignment has to be recorded chronologically, with the corresponding amounts and quantities (carats).

New company law also applicable to existing companies

On 1 May 2019 the new company law entered into force.

The law was immediately applicable to companies founded after this date.

For companies existing before the aforementioned date, the measures became applicable as of 1 January 2020. Such companies will have to adjust their statutes to the new law before 1 January 2024 (by Notary deed).

Some provisions of the law are anyhow mandatory, having an immediate effect on your company. Panis highlights them below.

1. Corporate forms

Meet Panis Dubai in Antwerp

Our partner from Panis Dubai, Mr. Shah Hitesh will be in Antwerp the 3th, 4th and 5th of February 2020.
If you wish to meet Mr. Shah concerning the start-up of a company in Dubai or other relevant information, please contact Panis to arrange a meeting.

AML & COMPLIANCE HELPDESK

Nieuwe bewijsregels voor btw-vrijstelling bij intracommunautaire levering van diamanten vanaf 1 januari 2020

Op 1 januari 2020 zullen de voorwaarden om op btw-vrijstelling voor intracommunautaire leveringen beroep te kunnen doen worden aangepast. Dit heeft een impact op de documenten die aanvaard worden als bewijs van vervoer/verzending van diamanten naar een andere EU lidstaat. Lees hieronder wat er precies wijzigt en waarmee u rekening dient te houden als u diamanten naar een andere lidstaat vervoert of verzendt.

200.000 people received letters regarding foreign bank accounts from tax administration

Approximately 200.000 people have received a letter from the tax authorities stipulating that they did not declare their foreign bank accounts or life insurances in their income tax declaration for income year 2017. Also some Belgian tax residents who are active in the diamond industry have received this letter. The content of the letter stipulates that the recipient has to declare the required information as well as income received (e.g. interests or dividends,…) in their income tax statement of 2018.

Mention country of origin on your sales invoice

As from January 2019 additional information needs to be reported for the Intrastat declaration.

If you send goods to another country of the European Community, the origin of the goods must be reported.

You have to mention the country of origin on all your invoices for sales within the European Community. In case you do not know the origin of the goods, you must use the code “QU” on the sales invoice.

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