News from Panis

Our partner from Panis Dubai, Mr. Shah Hitesh will be in Antwerp the 13th, 14th and 15th of January 2015.
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.

Money in bank accounts that have shown no activity for five years will be transferred by the banks to the Deposit and Consignment Office (Deposito- en Consignatiekas).

For a balance of more than € 20.00, the bank is obliged to notify the owner in writing.  If the bank  is not able to inform the owner, the balance in the account is transferred to the State Treasury.  The owner, however, may reclaim the money during a period of 30 years.

Balances of less than € 20, which were transferred to the State Treasury, cannot be reclaimed by the owner.

Any person entering or leaving the European Union via Belgium and who is carrying 10,000 EUR or more must declare this to the Customs Authorities on his own initiative. The Customs will draw up a written and electronic statement which is made available to the Financial Intelligence Processing Unit (the so-called “Money-Laundering Unit”).

For the movement of liquid assets of 10,000 € or more within the European Union a declaration is only required if the authorities demand to do so.

The following article was published in the financial newspaper De Tijd, dated 3 April, on the possible introduction of the so-called ‘carat tax’, on the basis of which companies would no longer be taxed on the basis of their profit but on a percentage of their turnover.

The intended tax regime must still be submitted to the European Commission for approval. No fixed date has been given for its introduction. Panis will keep you informed of the further developments regarding this subject.