Belgium - Cash Drain Transactions and Tax Deductibility of Certain Expenses
- C.Y. Lai; K. Lievens
- Derivatives & Financial Instruments, 2011 (Volume 13), No 2
- 31 March 2011
The Belgian tax authorities have had increasing success in challenging perceived abusive foreign tax credit schemes. This article considers the current state of those challenges, as well as a recent decision of the Brussels Court of First Instance involving a foreign tax credit scheme and the deductibility of certain expenses and losses.