In March, we informed you that the professional buyer's bond would be abolished. In the meantime, this abolition has been effectively implemented.
1. Abolition of surety bond: Check!
The decree providing for the abolition of the guarantee was published in the Belgian Official Journal on 15 April. Although the Flemish Tax Administration had already announced that they would no longer apply this guarantee for all notarial deeds of purchase passed as of 01/01/2021, this abolition has now been formally and legally abolished.
2. What's next?
The securities that have already been provided in the past will be released completely and automatically by the Flemish Tax Administration. And it gets even better: in principle, you as a professional buyer do not have to do anything! At this very moment, the Flemish Tax Administration is busy sending out its communication about the releases. On the one hand it informs the banks that the securities may be repaid, and on the other hand it informs the professional buyers in question about the intended release. Only possible bank charges concerning the release will be borne by the professional buyer.
Should you not have received any notification from the Flemish Tax Administration by mid-June, please feel free to contact us so that we can take the necessary steps!
We can always be reached at the general number 051/26 82 68 or via e-mail to info@titeca.be.
