Making global business personal, and taking personal business global.

With this vision, INAA wants to promote cross-border trade and services.

INAA stands for “International Association of Independent Accounting firms”. Its members are all independent firms of accountants, tax consultants and/or auditors.  An important requirement for membership is the guarantee to provide quality, professional services.

Currently, 680 professionals from more than 140 offices with more than 3900 employees are part of this network, spread over more than 50 countries on 5 continents.   Since the beginning of 2019 @TheOffice has been part of this network and last week we participated for the first time in the interim INAA member conference in Barcelona.  There we have already had the opportunity to meet colleagues from 27 countries.

Through this network, we can help our customers with their foreign activities and with setting up branches abroad.  In almost every European country, we can consult a consultant on company law, taxation, payroll and accountancy.   In the opposite direction, our foreign colleagues can call on us for advice with regard to trade and services in Belgium.

@TheOffice is the first Flemish accountancy firm to be accepted by the INAA group.

After a favorable evaluation of our internal organization and professional qualities, our membership of the INAA group is a fact.

INAA stands for “International Association of Independent Accounting Firms”.   It is an international network of certified accountants, auditors and tax consultants, spread over more than 50 countries on 5 continents.

Each country has its own local regulations, taxation and customs. From now on, this network allows us to provide specialized assistance and advice to Belgian SMEs that want to set up subsidiaries or branches abroad and help our clients even better in their international activities

The new Innovation Deduction: an Opportunity for IT companies

On February 2nd, 2017, The Belgian Parliament has approved the law introducing a tax "innovation income deduction".

This deduction was introduced retro-active as of July 1st, 2016 and can therefore already be applied for the past fiscal year.

The income eligible for the deduction must relate to intellectual property rights of :

1/ patents or supplementary protection certificates;

2/ breeders' rights

3/ orphan drugs

4/ data and market exclusivity

5/ copyrighted software

t is this last category that offers interesting perspectives for the many IT companies. Also software developed for the improvement of internal business and production processes may be eligible for the deduction.

The deduction amounts to 85% of the qualifying net income, but surely there are some important conditions to consider:

  • The software should be the result of a research or development project as defined for the exemption for withholding tax on wages;
  • The software has produced no income before July 1st, 2016;
  • The deduction is limited if the software was only partially developed by the company.

Furthermore, for the application of this tax deduction, it is crucial to be able to submit corresponding evidence : convincing data and related documentation, both in terms of income and expenditure.

Of course, our office can guide you through these administrative obligations.

Don't miss this opportunity!