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You may get the somewhat cryptic question from your accountant every year whether you, your partner or your children are the founders or beneficiaries of a legal arrangement. Do you answer "yes" for the first time this year? Then we advise you to ask for a tax deferral via a box in your online tax return. The reason is that you need an attachment for the tax return, which is currently not yet available in Tax-on-web.
Declaring legal constructions is mandatory
The obligation to declare a legal construction has existed since assessment year 2014. This way, the tax authorities can easily get an overview of all financial activities within this construction. Since then, any person establishing a legal arrangement is obliged to declare it to the tax authorities.
Example
"Trusts" are legal arrangements where individuals or companies join together and transfer assets or money to another legal entity.
These assets are brought under the control of a trustee , also called "trustee" to govern them for the benefit of one or more beneficiaries or for a particular purpose.
The obligation applies not only to the founders, but also to the potential beneficiaries of such a structure, i.e. those who will benefit from the legal arrangement.
New obligation in 2024: Annex 276 CJC
Since this year (year of assessment 2024), affected persons are also required to attach to their returns, for each legal arrangement, an Annex 276 CJC containing additional information. These include, for example, the income included in the return that was obtained through the legal arrangement and is taxable on the part of the founder.
This obligation is applicable to taxpayers:
- Who have a legal arrangement founded in 2023
- Or who have obtained a dividend from a legal arrangement in 2023
- Or who obtained any other benefit from a legal arrangement in 2023
Deferral of declaration possible till 16 October 2024
Although this Annex 276 CJC is mandatory, it is not yet available in Tax-on-web.
The model of Annex 276 CJC was established by the Royal Decree dated 16 June 2024.
So you are entitled to a deferred deadline, if you set up a legal arrangement in 2023 or received a dividend or other benefit from such'an arrangement. You will then have time until 16 October 2024 to file your personal income tax return.
How can you apply for a postponement?
Have you already filed a legal construction declared in 2023 (income year 2022)? If yes, you do not have to do anything to avail of the 16 October 2024 deadline to file your tax return. This will happen automatically.
Do you declare a legal construction this year for the first time? In that case, you can request the 16 October 2024 deadline at the time of filing your declaration. You do this by ticking the box provided for this purpose on your online declaration.
What do you do when you receive a proposal for simplified declaration?
Have you received a proposal for simplified declaration? Then remember that you can also apply for the term of 16 October 2024. In that case, you should still file a declaration. Contact your authorised valuation service before 15 July 2024 to stop any enrolment of your simplified declaration proposal.
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