Are you already aware of the tax benefits available to companies that invest in so-called ‘support zones’? And did you know that as of November 1, 2024, the number of support zones in the Flemish Region will be significantly expanded? With this newsletter, you’re fully updated
What are ‘support zones’?
Support zones are areas designated by the regional government, where companies receive additional support if they make certain investments that result in additional employment. This provides unique opportunities for businesses to grow and benefit from tax advantages.
How much support is available?
Companies receive a 25% reduction in the withholding tax for every new job they create as a result of a specific investment, provided the new position is maintained for at least 3 years (for SMEs) or 5 years (for large companies). The exemption applies for a period of two years.
Conditions for support?
o qualify for the benefits of the support zones, the following conditions must be met:
- Investment within a support zone:The company must make the investment within a designated support zone.
- New jobs : The investment must result in the creation of new jobs, which must be maintained for at least 3 or 5 years.
Changes as of November 1, 2024?
Starting on November 1, 2024, the list of recognized support zones in the Flemish Region will be significantly expanded. As a result, some companies that were previously ineligible will now be able to qualify. You can check if your company will be located in a support zone due to the expansion by using this link https://www.geopunt.be/.
Our support
For many companies, analyzing the conditions for the support and gathering the necessary documentation can be a difficult and complex task. That’s why our team of experts is ready to help your company! We provide assistance throughout the entire process, from analysis to securing the benefits.
Do you have questions or would you like more information on how your company can benefit from support zones?
