The Belgian Cayman Tax 2.0: exit taxes worrisome for trust practitioners?. Issue 3 (7th March 2019)

• Record Type: Journal Article
• Authors: Appermont, Niels; Peeters, Bart
• Is Part Of: Trusts & trustees. Volume 25:Issue 3(2019)
• Page Start: 343
• Page End: 358
• Publication Date: 2019-03-07
• Subjects: Trusts and trustees -- Periodicals; 346.05
• DOI: 10.1093/tandt/ttz012
• Languages: English
• ISSNs: 1363-1780

Abstract

Abstract: The purpose of this article is to serve as a 'warning' for trust practitioners around the world with regard to a new Belgian tax rule which might have extreme extraterritorial effects if a certain link with Belgium exists, i.e. in the event that a Belgian taxpayer can be identified as a 'founder' of the trust. Because both the scope and the exact workings of this tax rule are unclear, it is best to seek further advice if one doubts whether a transaction concerning a trust, or other 'legal construct' might trigger this tax. Precisely because of these uncertainties, the authors seek to identify possible routes by which this tax rule can be challenged.