Belgium Publishes Documentation Requirements for Innovation Deduction

Belgium has published the Royal Decree of 2 October 2019 in the Official Gazette, which sets out documentation requirements for taxpayers claiming the new innovation deduction for qualifying IP income derived from qualifying IP rights (innovation income). The innovation deduction was introduced with effect from 1 July 2016 to comply with the modified nexus approach of BEPS Action 5, with the prior regime grandfathered to 30 June 2021. The requirements set out in the Royal Decree include the …