The Belgian government has proposed a new IP regime to replace the patent box regime that was repealed effective 1 July 2016 due to non-compliance with the modified nexus approach of BEPS Action 5 ({News-2016-07-21/A/2- previous coverage}). The proposed regime includes an innovation deduction equal to 85% of the net qualifying IP income derived from qualifying IP assets. The main aspects of the proposed regime are summarized as follows:
Qualifying IP Income and Assets
Qualifying IP income …