News from Panis

Panis news

Dear Entrepreneur,

The complete Panis Team wishes you and your staff members a happy and prosperous 2013.

Allow us to look back at last year...

2012 was a year in which our sector was severely hit by the crisis. The diamond market ended up in  a downward spiral as a result of financial uncertainty and the reduced consumer confidence that comes with it.

AML seminar

How to comply with the rules of International Organisations
banks, diamond bourses, RJC, De Beers and the Belgian Law?


Dear Customer,

The Ministry of Economy has informed us that as of 2013 effective controls will take place regarding the Anti Money Laundering Law.

These verifications will focus on the effective application of the anti money laundering procedures as applied by the diamond dealers.

The Ministry of Economy also informed us that the first aim of these controls is to stress the awareness of correctly applying the procedures, no

Anti-Money Laundering seminar

With regards to the questions which have arisen concerning the seminary please find hereunder the answers.

The training of staff members concerning "Anti-Money Laundering" legislation is indeed one of the legal obligations of the companies subject to this law.
Moreover the participation of the staff members to the training has to be mentioned in the annually "Anti-Money Laundering" report.

Given the complexity of "Anti-Money Laundering" legislation PANIS will offer his clients, participating to this seminar, a free support for the legal reporting obligation

Important message

The corporate tax declaration has to be filed at latest by the 27th September 2012. Panis insists you to file in time.

When the corporate tax declaration is filed late, the tax authorities will automatically tax your company by a lump-sum of 10% of the company's turnover.

This results into severe taxes and penalties.

Restart HSBC investigation

According to different newspapers the HSBC investigation, the so called  ‘Diamondgate’, has to be completely restarted from the very beginning.


Panis starts with a legal department

Due to the continuing complexity of the overall legislastion, PANIS has decided to start with a new legal department.

PANIS extends its advisory services with providing specialist legal advice to its clients and already engaged a new colleague with expertise to staff this department.

Clients may consult our legal department with respect to questions about amongst others tax-, corporate- and trade law, etc.

Cash withdrawals of salary prohibited in future

In its action plan against fraud, the Belgian Government wants to prohibit the cash payment of salaries in future.

There is yet no clarity when this new measure will enter into force.

Cash payments exceeding 5.000 EUR prohibited

By law of 29th March 2012 cash payments for goods and services are restricted to 5.000 EUR.
Violations to this law will have to be reported immediately to the Belgium Financial Intelligence Processing Unit.

It is the intention of the authorities to restrict cash payments to maximum 3.000 EUR as from 1st of January 2014.

Invalid intra community VAT numbers penalized

Belgian companies can realize intra community deliveries of goods and services without charging VAT to their clients.

New tax measure on the private use of company cars

Directors/managers and employees who use a company car for private purposes, have to pay taxes on the benefit in kind.

From now on, the valuation of the benefit in kind would be based on the catalogue price of the car multiplied by a CO2-coefficient and a ratio 6/7.

The catalogue price would be the invoice price including the price of all car options and VAT, without discount.

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