Belgium

Recent Articles

•  

  08.12.2023

  International

  COP28 Update – 8 December 2023

  COP28 has seen a host of pledges and agreements, and the CMS team has been reflecting on the announcements and sharing their experiences of COP28 on the CMS COP28 Hub. Here, we roundup the latest commentary from our team at COP28.  CMS CommentaryKey takeaways from Energy Day at COP28As a young professional in the legal field, attending COP28's Energy Day was an eye-opening experience that provided valuable insights into the future of environmental policies and their potential impact. Day 6 of COP28 showcased a collective determination to address the pressing challenges of our time. The discussions...

  Read more
•  

  08.12.2023

  Belgium

  Belgium to tighten Cayman tax in 2024

  FR

  A new law aimed at significantly tightening the Cayman tax was recently tabled in the Belgian parliament. The Cayman tax “version 2.1” reform, which is designed to remedy the shortcomings identified by the Court of Auditors in a report published in April 2023, may come into force on 1 January 2024, giving taxpayers impacted by the legislation little time to react.How the Cayman tax worksThe Cayman tax is a tax measure designed to combat tax evasion by Belgian residents who hold “legal constructions” established abroad (e.g. a trust or untaxed foreign company with legal personality).Belgian...

  Read more
•  

  08.12.2023

  International

  COP28: Global Health Under the Spotlight

  Health took centre stage at the first ever ‘Health Day’ at COP28 on 3 December. The program focused the attention of world leaders on the profound public health-related issues stemming from climate change. Rising temperatures, extreme weather events, and changing ecosystems contribute to the increase of respiratory and water borne diseases, food insecurity and water scarcity around the world. Data reported indicates that annual deaths from polluted air reached almost 9 million and 189 million people are exposed to extreme weather-related events each year. The inclusion of a Health Day...

  Read more
•  

  06.12.2023

  EU

  EU publishes Directive on distance financial services contracts in Official Journal

  In November 2023, the EU legislator adopted the new Directive regarding financial services contracts concluded at distance.This Directive essentially aims to modernise the existing legal framework governing distance contracts for financial services concluded between a professional and a consumer. For the record, a "financial service" is defined as any service relating to banking, credit, insurance, personal pensions, investments and payments.The European legislator has focused on the following subjects: (i) pre-contractual information, (ii) the right of withdrawal, (iii) the obligation to provide...

  Read more
•  

  05.12.2023

  International

  ROAD TO COP28: What to expect?

  With record temperatures sweeping, wildfires raging, and the onset of the hottest week ever documented worldwide in early July, there is much less to be optimistic about the climate change since COP27. Apart from a few vital takeaways - such as the establishment of a Loss and Damage Fund - COP27 had its controversies. Many countries - specifically, developing nations - are frustrated with the slow progress, which some deem no progress at all. With COP27 arguably failing to demonstrate a reassuring plan to put the world on a more sustainable path, focus is now on the upcoming COP28 which will take...

  Read more
•  

  04.12.2023

  International

  Hague 2019 and recognition and enforcement of foreign judgments – a welcome step in the right direction

  UK Government confirms entry into Hague 2019On 23 November 2023 it was confirmed that the UK government will sign the Hague Convention of 2 July 2019 on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters (“Hague 2019”).  The decision paves the way to the implementation of an effective and uniform approach for the mutual recognition and enforcement of judgments between the UK and other contracting states, including EU member states (other than Denmark), Ukraine and Uruguay.  The United States, Israel and Russia are also expected shortly to ratify...

  Read more