Obligations of a company
Of course, as an entrepreneur, you must comply with the legislation and the obligations arising from it. We have listed a number of important ones, but of course there are more.
Bookkeeping
Small companies can keep a simplified bookkeeping, small and medium-sized companies must keep full double-entry bookkeeping, but have the option of filing annual accounts with abbreviated SCHEMA. Large companies must file annual accounts with full schedules. Your accountant can assist you in this.
Annual accounts
Apart from the natural entity as legal form, the ordinary limited partnership and the partnership and the unlimited liability co-operative company, all other legal forms must publish their figures annually by submitting their annual accounts to the National Bank of Belgium.
Taxes and VAT returns
Every year, every trader, natural or legal entity, must make a declaration to the tax office. A VAT return is usually made every three months, unless you are exempt or subject to a mandatory monthly return. Your accountant will guide you through this process.
Various modifications
It goes without saying that you must inform the various administrations in the event of changes to the articles of association, branches, activities…. The main changes to be made may result in you being obliged:
- To convene an (extraordinary) general meeting or board of directors.
- To submit forms for publication in the annexes to the Belgian Official Gazette.
- To modify the registration at the Crossroads Bank of Enterprises.
- To update the proof of professional competence.
- To inform the tax authorities.
- To update or apply for any other permits.
All these administrative matters can be outsourced to a professional partner.
