Advocaten / Avocats / Lawyers

Tuesday, 21 April 2020

Do I get a deferment of payment for the assessment in the gift or inheritance tax (Flemish Region)?

No deferment, but a repayment plan

Anyone who has received an assessment in gift or inheritance tax and who is experiencing financial difficulties can always apply for a repayment plan. In light of the current corona measures, the Flemish Tax Administration has indicated that they will be flexible when assessing applications for repayment plans.

For all levies, including gift or inheritance tax, with a final payment date as of 15 March 2020, a repayment plan will be granted if you prove that there are financial difficulties due to the corona virus.

How to apply for a repayment plan

A repayment plan can be requested after you have received the tax notice or a reminder. You can request the repayment plan in writing with the Flemish Tax Administration via the contact form on the website or via a letter to the Flemish Tax Administration, Vaartstraat 16, 9300 Aalst.

Attention, interest on arrears presumably still due

When you receive a repayment plan, you will, in principle, still have to pay interest on arrears. This amounts to 7% on an annual basis and is calculated on a monthly basis from the first day of the month following the payment deadline. The interest owed is included in the repayment plan.

No interest on arrears is due if it does not amount to five euros per month.

In addition, the Flemish Tax Administration can, in exceptional cases, grant exemption for all or part of the default interest. The Flemish Tax Administration has not yet indicated whether it will grant such an exemption when a repayment plan is granted due to financial difficulties caused by the coronavirus.

If you have any questions on this subject, please contact the authors of this article or via covid19@tiberghien.com.

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