TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

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Commission Refers Belgium to EU Court of Justice over Discriminatory Inheritance Tax Provisions

The European Commission has decided to refer Belgium to the EU Court of Justice over tax rules in the Walloon Region.

The Walloon legislation provides for a choice between share quotations to determine the taxable base for inheritance tax purposes. This choice is only offered for shares listed on a Belgian stock exchange. Shares listed on stock exchanges of other EU Member States or EEA States can only be valued at the stock market price at the time of death without any possible choice between quotations.

The Commission considers the absence of choice to be discriminatory and restricts the free movement of capital as set out in article 63 of the Treaty on the Functioning of European Union.