Belgium Accounting & Tax Glossary

Belgian companies must file their annual accounts with the National Bank of Belgium within 30 days of the General Assembly approving them. The accounts then become public through the Central Balance Sheet Office.

Biztax is the electronic service of FPS Finance, reached through the MyMinfin portal, where Belgian companies file their corporate income tax return. Returns are due by the last day of the 7th month after the financial year-end.

The enterprise number (numéro d'entreprise / ondernemingsnummer) is the unique 10-digit identifier the Crossroads Bank for Enterprises gives every Belgian company, association and self-employed person. The VAT number is BE plus the same 10 digits.

The SRL (société à responsabilité limitée) or BV (besloten vennootschap) is the private limited company, and the default form for Belgian SMEs. Since the 2019 Companies and Associations Code it has no minimum share capital.

Corporate Income Tax (impôt des sociétés / vennootschapsbelasting) is the tax Belgian companies pay on their taxable profit. The standard rate is 25%, in force since 2020. Qualifying small companies pay a reduced 20% rate on the first €100,000 of profit.

The Notional Interest Deduction (NID) lets a Belgian company deduct a fictional interest charge calculated on the increase in its equity. The rate is set each year from 10-year Belgian government bond yields.

The SME reduced rate taxes the first €100,000 of profit at 20% instead of 25% for qualifying small companies. The maximum saving is €5,000 a year. From tax year 2026, a director must receive at least €50,000 gross annual remuneration.

The DmfA (multifunctional declaration) is the quarterly return Belgian employers send to the ONSS/RSZ, reporting pay and working time for every employee. The ONSS uses it to calculate the contributions due.

The ONSS (Office National de Sécurité Sociale) or RSZ (Rijksdienst voor Sociale Zekerheid) is the National Social Security Office. It collects employee and employer social security contributions in Belgium every quarter.

Payroll withholding tax (précompte professionnel / bedrijfsvoorheffing) is the income tax an employer deducts from wages each month and pays to FPS Finance. Returns are filed monthly through the Tax For All (TFA) portal.

VAT (TVA in French, BTW in Dutch) is charged on most goods and services in Belgium. The standard rate is 21%, with a 12% intermediate rate, a 6% reduced rate and a 0% band for a few items such as newspapers.

The VAT exemption scheme (franchise de la taxe / vrijstellingsregeling) lets a small business in Belgium skip VAT registration while annual turnover stays at or below €25,000, excluding VAT.