The annual accounts must be filed electronically with the Central Balance Sheet Office at the National Bank of Belgium (NBB). Filing can be done via the online platform provided by the NBB, which is accessible to businesses and accountants.
The NBB acts as the central repository for all Belgian companies' financial statements. Once filed, the annual accounts become publicly available, ensuring transparency for shareholders, investors, creditors, and the general public.
Looking to create financial statements for your Belgian company without calling an accountant? Our detailed guide helps you easily manage the financial situation of your organization by streamlining the procedures. Our complete entity management services include customer assistance specifically for Belgian companies—including those with non-EU operations. The manual addresses basic topics such compiling financial data, knowing Belgian accounting rules, and proper reporting using financial software. Whether you run a worldwide company or a small firm, we offer the tools and information to guarantee adherence to Belgian financial laws.
Belgium is a great place for your activities, hence we assist you to simplify financial reporting and cut expenses. Count on our knowledge to help you stay compliant and navigate the process even without an internal accountant.
Our Belgium-based entity management services provide efficient gathering and compilation of financial data, ensuring your business complies with local and international regulations. We deliver accurate, timely reports tailored to your specific needs, supporting seamless global operations.
With a current interest rate set at 10% for 2024, interest on Corporate Income Tax (CIT) owed is computed in Belgium from six months following the end of the financial year until the tax assessment is issued. Should the CIT be paid late, a lowered interest rate of 4% is computed from six weeks following the assessment's publication. While giving people who pay their taxes after the assessment a grace period, this method encourages prompt payment.
Belgian LLCs may be audited by tax inspectors as part of the national tax authorities' oversight responsibilities. This scrutiny ensures that all financial activities and tax filings are transparent and comply with Belgian regulations. Enhanced collaboration between taxpayers and tax authorities has been observed, potentially reducing the compliance burden for businesses.
Corporate tax returns in Belgium must be filed digitally through the Belgian Tax Administration's online platform, MyMinfin. Companies can manage this process in-house using approved accounting or tax software, or they may choose to outsource it to a tax service provider. For businesses needing additional time, filing extensions can be requested via the MyMinfin portal or by submitting a request form to the Belgian tax authorities.
For foreign taxpayers earning income in Belgium, it's essential to understand the implications of international tax treaties, which help prevent double taxation on the same income. These treaties ensure that businesses are not subjected to excessive taxation by multiple jurisdictions, promoting fair tax practices.
By adhering to these guidelines and utilizing available resources, Belgian companies can effectively manage their corporate tax obligations, ensuring compliance and supporting their long-term financial stability.
In Belgium, companies must submit their annual financial statements to the National Bank of Belgium (NBB) within seven months after the end of the financial year. For businesses with a calendar year-end, the deadline is 31 July.
You can access financial statements of Belgian companies through the National Bank of Belgium (NBB)'s online platform. The documents are available in the public database, and a small fee may apply to obtain specific reports.
Yes, all companies registered in Belgium, including small and medium-sized enterprises (SMEs), are required by law to file their financial statements annually with the National Bank of Belgium.
Annual financial statements in Belgium typically include the balance sheet, income statement, cash flow statement, notes to the financial statements, and for larger companies, the social balance sheet.
If a company fails to submit its financial statements on time, it may face penalties, including fines. In some cases, the company could also face legal consequences or damage to its reputation.
[1] - https://www.houseofcompanies.io/
[2] - https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/audit/deloitte-nl-audit-annual-accounts-in-the-netherlands-2019.pdf
[3] - https://theaccountingjournal.com/netherlands/financial-reporting-in-the-netherlands/
[4] - https://online.hbs.edu/blog/post/how-to-prepare-an-income-statement
[5] - https://www.youtube.com/watch?v=aRL1MDYFMZ4
[6] - https://www.tax-consultants-international.com/publications/accounting-and-audit-requirements-in-the-netherlands
[7] - https://www.bnnlegal.nl/en/services/insolvency-law-and-bankruptcy/directors-liability-in-the-netherlands/
[8] - https://www.linkedin.com/pulse/7-reasons-conduct-external-audit-uae-atif-iftikhar
[9] - https://www.nba.nl/opleiding/foreign-auditors/ra-qualifications/the-dutch-educational-system-for-register-accountants/
[10] - https://www.kvk.nl/en/filing/when-do-i-have-to-file-my-annual-accounts/
[11] - https://www.kvk.nl/en/filing/am-i-required-to-file-annual-reports-and-accounts/
[12] - https://taxsummaries.pwc.com/netherlands/corporate/tax-administration
[13] - https://business.gov.nl/regulation/corporate-income-tax/
[14] - https://business.gov.nl/finance-and-taxes/business-taxes/filing-tax-returns/filing-your-corporate-tax-return-vpb-in-the-netherlands/
"Switching to automated bookkeeping for VAT reporting in Belgium has been a game-changer for us. The system handles everything with precision, eliminating the risk of errors and ensuring that we're always in compliance. It's saved us a significant amount of time, which we can now invest in growing our business. Highly recommended!"
"As a company with international operations, managing VAT in Belgium used to be a complex task. Since implementing automated bookkeeping, our VAT reports are generated seamlessly, and we never miss a deadline. The real-time data access is invaluable, giving us confidence in our compliance."
"Automated bookkeeping has transformed the way we handle VAT reporting in Belgium. It’s intuitive, cost-effective, and has removed the guesswork from compliance. The peace of mind it provides knowing that we’re fully up-to-date with Belgian tax regulations is priceless."
Feel welcome, and try out our solutions and community,
to bring your business a step closer
to international expansion.
Stay updated with the latest news and exclusive offers. Subscribe to our newsletter for regular insights delivered to your inbox!