At present Belgian tax rules do not allow income from financial instruments that have been sold, given as security or lent with respect to the parties to agreements on in rem securities or loans in cross-border situations to be deducted from taxable income. The Commission considers these provisions to be contrary to the Parent-Subsidiary Directive (Directive 2011/96/EU of the Council of 30 November 2011), which provides for the non-taxation of profits received by the parent company from a subsidiary established in another Member State. The Belgian authorities are asked to amend the legislation in question.
This request has been made in the form of a reasoned opinion, in accordance with EU infringement procedures. The Belgian authorities have two months within which to notify the Commission of the measures they have taken to apply the Directive correctly. Failing this the Commission could decide to take Belgium to the Court of Justice of the European Union.
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