You can rely on our partner accountants in Belgium for adequate assistance in a wide range of tax matters and accountancy law reporting issues. Our lawyers in Belgium can provide you with services meant to cover accounting and VAT compliance in the country.
| Quick Facts | |
|---|---|
| Bookkeeping services offered by our accountants in Belgium |
Accounts receivable and accounts payable, |
| Payroll |
Calculating the salary and making the salary payments, handling the employer's social security contributions according to the type of employees (blue-collar or white-collar) |
|
Invoicing |
Calculating and issuing invoices, invoice management and tracking |
| Cash management |
Cash payments, receipts management, cash flow statements |
| Reporting | Annual financial statement preparation in accordance with the statutory requirements |
| Financial analysis |
Profitability ratio calculation, operational efficiency calculation, liquidity analysis, etc. |
| Forensic accounting |
Our accountant in Belgium can provide, upon request, special services and evaluations relevant in legal proceedings (i.e., money laundering investigations, corporate fraud, tax evasion, etc.) |
| Tax compliance |
Making sure that the company is compliant with the relevant tax due dates, paying the corporate income tax on a quarterly basis |
|
VAT registration and reporting |
Registration for VAT purposes before the commencement of VAT activities, VAT return filing on a monthly or quarterly basis, as applicable |
|
Audit services offered by our accountants in Belgium |
A statutory auditor from our team can audit the financial statements for companies that are subject to this requirement |
| Property financial matters | Compliance with the real property tax applicable in case of income from immovable property located in Belgium |
| Statutory compliance | Compliance with the Belgian GAAP and the mandatory IFRS for the consolidated accounts of listed companies in Belgium |
| Tax authority assistance | Representation in front of the Federal Tax Administration or the regional and local tax authorities, depending on the region in Belgium where the company is based |
| Support for voluntary dissolution | Guidance for settling debtor claims and for distributing the remaining assets, information on the general liquidation procedure and the need to use a liquidator |
| Services for foreign companies | Accounting compliance for branches in Belgium, information on the taxation of foreign companies doing business in the country |
Table of Contents
Do I have to work with an accountant if I have a company in Belgium?
Corporations (such as the SRL and the SA) work with an accountant, as they are subject to tax filing and regulations.
A sole trader is subject to less stringent requirements and, as a natural person deriving income from your trade or profession, you may opt to keep your own accounting records. Penalties do apply, and careful consideration should be taken.
What accounting services do you offer in Belgium?
We offer complete accountancy services that are customized to meet the specific needs of the business. As our client, you will benefit from having your account overseen by a dedicated expert who will be able to offer tailored solutions, depending on business size and industry.
A CPA in Belgium from our team will help you with:
- Bookkeeping: the basic service of keeping the accounts of all the financial transactions of the company;
- Tax accounting: observing the income tax, VAT return, and other filings applicable to Belgian companies;
- Invoicing: as may be required, assistance can be provided for ensuring that the company meets its invoicing obligation;
- Internal auditing: as needed per the company size, our team will also help you with this service intended to verify if the business is compliant.
Can I rely on your accountant in Belgium for additional services?
Companies may also request additional services from our accountants in Belgium:
- Forensic accounting: a special type of service that is usually used in relation to financial problems or fraud;
- Bank reconciliation: a service aimed at finding any existing discrepancies in the financial records of the business.
Our team offers all of these services and, in addition to these, our lawyers in Belgium can help answer any questions about the applicable tax and reporting laws.
Do you offer tax advisory services?
Our tax advisors are able to answer questions about the taxation regime, as well as provide clients with details on lawful tax minimization strategies whenever possible.
By knowing the range and scope of the applicable tax incentives in Belgium, foreign and local companies can reduce their tax burden.
For example, there are various investment deductions that can be accessed by companies operating in the research and development sector, as well as credits for R&D activities.
Our accountants in Belgium can provide investors with information on the manner in which a company (and the Belgian branch of a non-resident company) can deduct an interest expense connected to qualifying equity.
Can your accountant help me register for VAT in Belgium?
Yes. Upon request, our team can assist with VAT registration and the mandatory submissions to ensure your company’s VAT identification.
If your company supplies goods or services that are subject to this tax, you must apply for the VAT number before you start the business activities. This means that the company number you receive once you finish the process for company incorporation in Belgium will also become your VAT number.
Does your accountant ensure VAT compliance?
For VAT-paying entities, our accountant in Belgium will make sure that the accounts contain the following books:
- Incoming invoices and credit notes;
- Outgoing invoices and credit notes;
- Revenue ledger (one for each place of business, if this is the case);
- Centralized ledgers (if your business has several locations).
Special ledgers that are kept and updated accordingly include:
- The VAT register for motor vehicles;
- The VAT register for non-transfers;
- The reimbursement register.
The ledgers and accounts listed above should be used for informational purposes only. Belgian companies subject to the normal VAT regime are expected to comply with all the applicable obligations.
Do you offer payroll services?
As part of more tailored packages, accounting services in Belgium can be expanded to include payroll solutions. These include:
- Calculating work hours, overtime, other bonuses (if applicable);
- Calculating wages by taking into account said bonuses or other premiums, as may be the case;
- Making the salary payments and keeping electronic records;
- Calculating the taxes owed by the employer, most notably the social security contributions (and observing the payment requirements).
Are Belgian accountants accredited?
The body that manages the register that includes all practitioners in the field and that holds the relevant qualifying examination is the Institute for Tax Advisors and Accountants. Members observe a set of rules for good practice and professional ethics, as well as continue their professional development.
Are there mandatory minimum qualifications for an accountant in Belgium?
Some of the requirements for an accountant in Belgium are the following:
- have a 3-year internship;
- at least 7 years of practical experience;
- pass the final examination;
- In addition to the 3-year experience condition in auditing, auditors need to be aged below 65 years and be a citizen of an EU Member State.
Can I change my accountant in Belgium?
You can choose to change your accountant in Belgium during the course of the tax year (if issues arise), or at the end/start of a new accounting period. In all cases, careful consideration should be given to meeting the mandatory annual filing requirements by focusing on not having the change of accountants disrupt the filing deadlines for your company.
Once you inform your former accountant that you will no longer need his/her services, the former service provider will need to forward all the accountancy documents in his/her possession at the time. In practice, it can be common for the new accountant and the old accountant to communicate and transfer your company’s documents between them.
Contact us for more information on how we can help you work with an accountant in Belgium.