Belgium Consults Companies on Improving Global Minimum Tax Forms

Belgium’s finance ministry launched a consultation Thursday aimed at making improvements to how multinationals report a key component of their global minimum tax returns.

The Federale Overheidsdienst Financiën invited multinational groups and large companies to make suggestions to improve the Income Inclusion Rule surcharge declaration form.

The income inclusion rule allows a company’s parent entity to charge a top-up tax on subsidiaries paying less than a 15% corporate income tax, with excess profits then levied on the parent entity.

The rule is a key component of additional taxation under the Organization for Economic Cooperation and Development’s global minimum tax ...