Belgian Parliament Approves Tax Reform for 2018

On 22 December 2017, the Belgian Parliament approved major tax reform legislation for 2018. Key measures of the reform are summarized as follows:

• A reduction in the corporate tax rate from 33% to 29% from 2018, and to 25% from 2020;
• The introduction of a 20% corporate tax rate for SMEs on the first EUR 100,000 of taxable income (SMEs must meet certain conditions, including that no more than one of the following is exceeded: 50 employees; EUR 9 million annual turnover; and EUR 4.5 million bal…