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When are corona support measures tax-free?

There is a Belgium income tax exemption for compensation received as a result of the corona crisis with the aim to financially support the taxpayer at hand. Such financial compensation was generally granted by either the Belgium Regions, Communities, provinces or local cities or towns. Both the hinderance premium and compensation premium are typical examples. In summary: this exemption applies for both personal tax and corporate tax purposes. The scope is however limited to compensation amounts received during 15 March 2020 – 31 December 2020. Needless to say that the taxpayer will need to duly report these compensations received in his personal or corporate tax return to be able to actually benefit from such income tax exemption.

Contacteer

Kurt De Haen

E: kurt.dehaen@pkf-vmb.be
T: +32 (0)2 460 09 60

Wouter Brackx

E: wouter.brackx@pkf-vmb.be
T: +32 (0)2 460 09 60