On Thursday, 5 December 2024, we held our annual financial reporting, tax, and regulatory update webinar for board members in Belgium.
Frederic Poesen, Audit Partner at KPMG Belgium, and the partner in charge of KPMG’s IFRS Institute in Belgium, presented a financial reporting update in which he discussed:
- ESMA enforcement priorities, including liquidity considerations, accounting policies, judgments, and significant estimates; and
- The latest developments in IFRS, including new standards (in particular, IFRS 18), amendments, and future developments.
Silvie Broekx, Tax Partner at KPMG Belgium, presented a corporate tax update, including:
- Initiatives at the European level and beyond, such as Pillar II – Global minimum tax (BEPS 2.0), the proposal to prevent the misuse of shell entities (Unshell), the Debt-Equity Bias Reduction Allowance (DEBRA), and the Framework for Income Taxation (BEFIT);
- Belgian tax audits and new legislation, such as stricter CFC-rules and Cayman tax and mandatory e-invoicing as from 1 January 2026; and
- EU Green Deal tax-related update, such as the Emission Trading System 2 (ETS 2), the Carbon Border Adjustment Mechanism (CBAM), and the EU Deforestation-free products Regulation (EUDR).
Emmanuel Leroux, Senior Counsel at KPMG Law, presented a regulatory update, covering:
- The AI Act – the main objectives, scope, timeline, and key legal challenges;
- NIS2 – the main objectives, scope, and obligations for companies in scope;
- The Listing Act – the main objectives, revision of the Market Abuse Regulation, revision of the Prospectus Regulation, and other measures; and
- The implementation of the CSRD in Belgian law.
