In Belgium we have a well-developed infrastructure, a highly skilled workforce, numerous leading research centres, the development of new technologies and a multilingual environment. All this, combined with our central location within Europe and our logistical facilities (including the ports of Zeebrugge, Ghent and Antwerp), ensures that we have many advantages for international trade in Belgium. The figures do not lie. According to the Belgian Foreign Trade Agency, Belgium is the fourth largest exporter in the European Union (after Germany, the Netherlands and Italy) and the eighth largest exporter in the world. On the import side, Belgium ranks 5th in the European Union (after Germany, the Netherlands, France and Italy) and 13th in the world. Belgium also enjoys a politically stable environment. At both federal and regional level, the government is strongly committed to supporting businesses. For example, since 2017, the corporate tax rate has been reduced in two stages from 34% to 25% (and under certain conditions to 20% for the first bracket of EUR 100,000 of taxable profit). At the same time, incentives, subsidies and tax support measures (e.g. in the context of financing start-ups, innovation, research and development, etc.) are being used. In addition, a number of far-reaching and important modernisations of economic, company and civil law have been undertaken. One of the aims was to bring the legal framework more into line with the modern needs of businesses. Overall, therefore, Belgium can be said to have a fairly favourable business environment. What is the impact of the Belgian Companies Code 2019 on companies? The Belgian Companies Code underwent a major reform in 2019 18 LAWYER MONTHLY DECEMBER 2023 Conducting Business in Belgium: Is Belgium a competitive place to do business compared to other European Union countries? Contact Michael Boudry Partner, Novius Lawyers Email: info@novius.be Tel: +32 2 344 44 45 | +32 5 628 80 81 www.linkedin.com/company/novius-advocaten/ www.novius.be About Novius Novius is a law firm providing business legal advice, mainly in the areas of tax, corporate, insolvency and estate planning. Novius consists of a dynamic team that seeks pragmatic solutions for its clients in a confidential and discreet manner. Novius shares its passion for business with its clients and advises from a natural understanding of their needs, paying attention to the necessary details that make the difference. Novius therefore strives to demonstrate the highest quality and professionalism through a distinctive and flexible approach.
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