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Valuations
For organisations involved in a transaction, dispute, merger, acquisition or restructuring, the value of the company involved and its assets will be an important commercial consideration. A clear and thoughtful view of the respective value is therefore essential in such situations.
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Due diligence
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Independent trusted advice
Do you want to sell your business or rather grow it through an acquisition?
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Corporate reorganisations
Redesigning your group structure can mean significant cost savings and/or efficiency improvements. The restructuring provisions of the Companies and Associations Code (merger, demerger, contribution or transfer of branch of activity, etc.) provide you with the legal means to achieve this.
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Mergers and acquisitions represent a challenge for dynamic organisations. As a manager or entrepreneur, you want to look at this challenge from all sides to obtain the best conditions. That is why our professionals work on the basis of integral process management during merger, sale or acquisition processes.
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Transfer pricing
Our experts help document your transfer pricing principles, intra company transactions and internal reporting and organisation. They design and implement settlement pricing structures for both national and multi-national companies. When services are centralized, they determine acceptable costs and margins.
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Global mobility services
International employment has become a standard practice in today's HR policies. Nevertheless, it raises several questions for both the expat and the employer.
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International tax & VAT
If your business has grown internationally or if you’re considering to take the step to expand abroad, you want to continue maximizing your efforts. Where domestic corporate tax laws may already be quite complicated, local legislation in other countries and international tax laws will most certainly add to the complexity of your business environment and organization.
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IFRS reporting
IFRS reporting services for international groups and SMEs.
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Financial statement audit
As a large organisation, you are required by law to appoint an auditor to report to the general meeting on the (consolidated) financial statements.
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Agreed upon procedures
As an entrepreneur or manager, you may entrust specific work to your company auditor. The nature, extent and scope of these activities or procedures are always mutually agreed upon.
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IFRS reporting
The European International Financial Reporting Standards (IFRS) have been mandatory for listed companies in the European Union since 2005. However, these standards also offer specific advantages for unlisted companies and SMEs.
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Legal assignments
When significant events occur, the Companies Act imposes audit and reporting obligations on your company. In which cases is reporting required?
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Transaction advisory services
As independent advisers, our transaction specialists offer independent advice, not just on the financial aspects, but throughout the transaction cycle. Their independence is beneficial both to buyers as well as sellers. Our advisers work according to a structured methodology, keeping track of all financial, operational and strategic elements.
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Restructuring
Based on our "to-the-point" analyses, we identify with you the appropriate restructuring opportunities to help improve cash flows, results and balance sheet positions in the short term.
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Risk and compliance management
What are the risks to my business? What steps should I take to avoid these risks? Our business-risk advisers will be happy to help you get started.
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Internal audit
An effective internal audit function helps dynamic organisations better manage risks and turn them into opportunities.
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Cyber risk services
Cybersecurity and data privacy threats evolve on a daily basis. It is essential to recognize the threats, understand your exposure, balance your priorities and formulate a comprehensive response. We provide support in addressing both global and local cybersecurity and privacy compliance needs. We assess the risks of cyberattacks and the maturity of security programs, and we recommend and implement workforce, process and technology solutions to protect information assets. Contact us for a solid strategy that will help you proactively manage cyber risks both inside and outside your organization. We are ready to help you safeguard your future.
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Data analytics & process mining
Companies have a huge amount of data at their disposal, and that amount of information is also increasing every day. Gaining deeper insight through data analysis can increase the value, commercial challenge and level of understanding of the business.
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Process optimisation and internal controls
Futureproof organisations need to regularly revisit their strategies and objectives thereby optimizing their tactics, processes, internal controls and systems
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Forensic & integrity
Fraudsters become more inventive and can adopt different strategies depending on their target’s weaknesses. It is therefore crucial to ensure the appropriate level of fraud risk preventative measures are present in your organization.
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Sustainability & Impact services
How do I really make sustainability part of my strategy? How do I realise valuable impact? How do I get a grip on climate-related risks and opportunities? We can help you in your ESG journey.
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Whistleblow services
A whistleblowing programme helps your organisation to both prevent and detect fraud quickly. That way, you can reduce and even avoid fraud losses.
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Corporate tax
Laws on taxation are dynamic. Making sure your organization’s liabilities are met, requires constant monitoring and managing. Our advisers can offer case-by-case advice, help you coordinate, assist in filing reports, assess your risks, … or fully execute compliance processes.
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VAT
This requires a high level of experience, knowledge and insight of indirect tax, but also of your industry and organisation. Our team of full-time VAT specialists can assist you in various fields, ranging from advice and risk control to implementation and optimisation. As companies need advice as well as assistance and support, we execute and assist in fulfilling the necessary formalities and apply for permits.
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International tax & VAT
If your business has grown internationally or if you’re considering to take the step to expand abroad, you want to continue maximizing your efforts. Where domestic corporate tax laws may already be quite complicated, local legislation in other countries and international tax laws will most certainly add to the complexity of your business environment and organization.
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Compensation & benefits
To recruit and retain the best talent, it is essential to offer optimised and competitive pay packages. Grant Thornton helps you put together attractive packages tailored to your activity and the profile and expertise level of your employees.
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Transfer pricing
Our experts help document your transfer pricing principles, intra company transactions and internal reporting and organisation. They design and implement settlement pricing structures for both national and multi-national companies. When services are centralized, they determine acceptable costs and margins.
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Global mobility services
In a globalised world, businesses must work seamlessly across borders. Organisations operate in multiple countries and view international expansion as a strategic objective. International talent mobility is a key element of a successful global business and with it comes challenges and risks, as well as opportunities. With ever changing global tax regulations, an effective, compliant and cost-efficiently managed international mobility program is a critical component of successful talent management and business operations.
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Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
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Running your business on a day-to- day basis often has legal consequences. Not only key moments such as take-overs, shares transactions and mergers require legal support, but also your organisation’s daily operations. This is why our legal advisers are equipped to provide you with advice in many fields, both at a national and at an international level. They develop an understanding about your organisation’s activities and development plans. This allows them to offer you up-to date, relevant advice supporting your business.
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Company law & acquisitions
Your organisation is accountable towards many stakeholders: shareholders, board members, management and many more. Needless to say expert support to fulfill all reporting requirements can mean added value to your business.
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Labour and social security law
Belgian labour and social security legislation is a maze of schemes and regulations that employers tend to get lost in. Our legal experts issue advice and assist you, from the employee joining the company until leaving the company due to termination, retirement etc
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IT law & GDPR
Every business depends on ICT support. Given the business-critical nature of many ICT applications, concluding solid contracts is an absolute must. Grant Thornton has extensive expertise in consulting on and drafting various types of ICT contracts.
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Does your company need a 100% committed 'specialised' generalist who really knows the ins and outs of your company? Someone who thinks from your business perspective and provides pragmatic legal support by knowing your business strategy, its operations and business specifics? We can answer this need with "Legal counsel as a service".
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Accounting & reporting
At Grant Thornton, we offer you our accounting services either on a fully outsourced basis or a co-sourced basis. Whether you choose to have our experts to take care of all of your financial reporting requirements on your behalf or you choose to use our services for a project or a part of your accounting function, we have the skills and experience to deliver the right quality output you need.
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Are you a dynamic SME and do you want to be able to fall back on the expertise of a CFO? But is a full-time CFO still too big a step for your organisation? Grant Thornton offers you CFO-as-a-service.
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Outsourcing
Your financial information is an important management tool. That is why it is important your entire reporting process, from budgeting to filing financial statements is in line with your strategy and information needs.
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Consolidation
Our experts have a broad practical experience in consolidation. The methodology that we apply, guarantees a complete transparence of the consolidated data.
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Global Compliance and Reporting Solutions
As an entrepreneur operating in different countries, you are often confronted with various local obligations (VAT, direct taxes, financial reporting, etc.). Thanks to our Global Compliance and Reporting Services (GCRS), we offer you the solution in this regulatory tangle.
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Flexibility and responsibility are our core values, both at work and beyond. So you can be ambitious while continuing to pursue a good work-life balance.
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Client portfolio
We learn and grow together with our customers. That is why you get a varied customer portfolio with companies from very diverse sectors.
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Inclusive business culture
Whatever your experience, background, race, diploma, gender or orientation, you are welcome! We are interested in you as a person, so bring your full story with you.
Argumentation in favour of e-invoicing
The main goal of introducing the obligatory e-invoicing is to reduce the VAT gap and to combat the VAT fraud. E-invoicing offers numerous benefits, including
- increase efficiency for VAT compliance through automated and standardised invoicing processes
- achieve cost savings for businesses (reduce human intervention, avoid paper costs, limit compliance costs)
- environmental benefits (reducing carbon footprint by eliminating paper invoices).
It should enhance efficiency by enabling faster processing and hence payment of invoices, reducing administrative compliance (burdens) by reducing errors and ensuring all transactions are correctly reported by both the supplier and the customer (when combined with e-reporting).
Additionally, it simplifies VAT administration and compliance, enhances transparency and harmonisation across all EU countries. E-invoicing supports digital transformation, making it more efficient and dependable for both businesses and tax authorities.
Belgium has published legislation with entry into force on 1 January 2026
The bill of 6 February 2024, as published on 20 February 2024, introduces mandatory B2B invoicing in Belgium. Prior to the entry into force of the European project “VAT in the Digital Age” (ViDA)[1], member states need to get approval from the European Council to implement obligatory e-invoicing on a national level. Belgium is currently still waiting for the approval by the Council of the European Union. However, it is expected that approval will be granted, as also other EU Member States have received an approval for obligatory B2B invoicing for local transactions.
First Phase Implementation: no immediate digital reporting
It is important to note that even though implementation of e-invoicing can be a first step towards real time reporting, based on the new legislation it will not entail any digital reporting obligations in Belgium yet. That means that the invoices will – at least in a first phase- not be submitted towards, nor validated by the authorities.
As we will zoom into later, the Belgian e-invoicing systems focus on local transactions taking place in Belgium and is hence linked to receiving a valid Belgian VAT number from the taxable customer.
Correlation with ViDA proposal
Introduction of e-invoicing in Belgium is consistent with the European project “VAT in the Digital Age” (ViDA). Currently, the ViDA proposal (last version of May 2024) is on the agenda of the ECOFIN[2] meetings. During the meeting of 21 June 2024 an agreement could not be reached between Member States. The blocking element was the objection of Estonia on the “Digital platform for deemed suppliers”. Expectations are that it will be for the next presidencies of Poland (first half of 2025) and Denmark (second half of 2025) to aim for an agreement on EU level. The next attempt for an agreement could be during the ECOFIN meeting of November 2024.
The objective of ViDA is to modernise the EU VAT system and adapt it to the new challenges of the digital economy. According to the ViDA proposal e-invoicing will become mandatory in the framework of Digital Reporting Requirements (e-reporting) of cross-border transactions. E-invoices will need to be issued withing 10 days following the chargeable event.
Definition of a structured electronic invoice
According to the new Belgian legislation a ‘structured electronic invoice’ is defined as “an electronic invoice drawn up, sent and received in a structured electronic format that enables its automatic and electronic processing.”
Structured electronic invoices (hereafter called ‘e-invoice’) will be issued in Peppol-BIS format and exchanged via the Peppol network. The Peppol network is already used for B2G transactions. This e-invoice needs to comply with the EN 16931-1 and CEN/TS 16931-2 standards.
Peppol BiS format
In practice, a structured electronic invoice will take the form of an XML file, which enables it to be processed automatically. Invoices in PDF-format will not be considered as a “VAT compliant invoice” in the B2B context.
This means that there is a risk for the supplier of getting penalised by the Belgian VAT authorities with a lump-sum VAT penalty per incompliant invoice. Even more importantly, there is a commercial risk for the customer. During a Belgian VAT inspection at the customer’s, the Belgian authorities can reject the VAT deduction right, impose a 10% VAT penalty and claim interest for late payment (currently at 0,66% per month).
Prepare for e-invoicing now
As Belgium moves towards mandatory e-invoicing, understanding the legislation and preparing early will help your business avoid penalties and stay competitive. Do not wait until 2026 to start preparing—ensure your invoicing system is compliant now.
In the next part, we will explore the scope of mandatory B2B e-invoicing, available fiscal incentives, and the key steps businesses must take to ensure compliance. Stay tuned for practical insights to help your company transition smoothly.
[1] currently foreseen in 2030, however not approved yet by all member states.
[2] Economic and Financial Affairs Council of the European Union (EU)