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17Jan

Tax treatment of non qualifying options granted before 1999 (pre-1999 options)

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As you may recall, in its decision of May 2, 2001, the Court of Appeal of Brussels, in a much debated decision, confirmed the position of the Belgian Tax Authorities that pre-1999 options not qualifying under the Act of December 1984 were taxable at exercise and that the gain realised when exercising such options constituted taxable compensation.

News

In its decision of January 16, 2003, the Court of Cassation overturned the aforesaid decision of the Court of Appeal of Brussels. By giving this judgement, the Court found that it could not be concluded from the 1984 Act that the gain realised when exercising options, which do not qualify under said Act, is taxable.

Source: La Libre Belgique – De Financieel-Economische Tijd (17 January 2003)

Posted: January 17th, 2003