New Belgian Innovation Income Deduction
Publication in Belgian State Gazette
Belgian Parliament adopted on 9 February 2017 the Law on the introduction of the Innovation Income Deduction (InnID). The Law is published today in the Belgian State Gazette.
The InnID replaces the previous Patent Income Deduction (PID) which was necessary to have a BEPS compliant regime. The InnID has also extended its scope to software and certain other intangibles that could not benefit from the PID.
For more information on the new regime, please see our alert of 2 December 2016 when an agreement on this was reached at the Council of Ministers.
Link to Belgian State Gazette here.