Projet de loi portant une mesure d'accompagnement pour l'actualisation des stocks par les diamantaires agréés.
General information ¶
- Submitted by
- PS | SP MR Open Vld Vooruit Purple Ⅰ
- Submission date
- Oct. 16, 2006
- Official page
- Visit
- Status
- Adopted
- Requirement
- Simple
- Subjects
- tax provision precious stones stock
Voting ¶
- Voted to adopt
- Vooruit PS | SP Open Vld MR VB
Contact form ¶
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Discussion ¶
Nov. 9, 2006 | Plenary session (Chamber of representatives)
Full source
Rapporteur Bart Tommelein ⚙
Mr. Speaker, colleagues, this bill contains the measure on inventory actualization that ensures transparency in the presentation of the balance sheet of the diamond companies. This will result in the fact that the taxable profit is ultimately not determined by the value of the stock of goods. The measure concerns only the adjustment of the total stock value shown in the balance sheet of the diamond trader and is in no way intended to reduce the normal tax burden on the sector nor to reduce the taxable profit and tax burden in the future.
The State Secretary against Tax Fraud estimates the revenue of this measure at 136 million euros. At the question of colleague Devlies, the Secretary of State answered that this measure does not prevent the tax administration from imposing a higher tax if the inventory actualization should take into account a significant taxable tax. At the request of Mr Bogaert, the Secretary of State made clear that this is a revaluation of stocks and that this is not the same as companies that are given the opportunity to reinvest their free-value stocks at a reduced rate.
Due to the specificity of the companies in the diamond sector, special charges and tariffs were chosen. As a result, this measure cannot be applied in other sectors.
The Secretary of State also replied to colleague Devlies that an undertaking which upgrades the value of its inventory before 18 December 2006, but fails to pay the tax due by 20 December, will not be able to afford the inventory actualization it has carried out. The Secretary of State also confirmed that banking institutions are obliged to report all suspicious transactions in accordance with the provisions contained in the Anti-Money Laundering Act.
This is a one-time transaction, a inventory actualization that is separate from other rules such as those on municipal tax. As a result, the amount that increases the value of the stock is excluded from additional municipal taxes.
The draft law was adopted in the committee with 9 votes for and 2 abstentions.