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Belgium Publishes Guidance on the Tax Treatment of Foreign Losses

|Approved Changes|Belgium
Belgium

Belgium has published Circular 2021/C/97 of 3 November 2021, which provides guidance on the tax treatment of losses in foreign establishments or in the disposal of fixed assets located abroad, considering changes with effect from 1 January 2020. The guidance notes that, in principle, foreign losses are not allowed as a deduction for corporate tax purposes unless they are final (definitive) los…

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