Legal obligations
(Redirected from Belgian law)
Any (non-profit) organisation in Belgium has a long list of legal obligations.[1]
Failing to be compliant has financial and legal consequences. Strict timing is necessary.
Finances
[edit]- Administer a (minimum) general ledger
- Maintain a detailed expense account with /B/ prefix in bank payment references
- Maintain a detailed transport allowance per beneficiary
- Keep a cash register, and bank account transactions (see CAMT.053)
- WMBE does not use cash; all transactions are done via the bank account
- maintain a bank account signatory
- Have an up-to-date financial reporting available:
- Generate the yearly balance sheet, the income and expense overview, and the yearly budget (financial statements)
Administration
[edit]- Mention all mandatory entries on outgoing documents
- Organise a (yearly) statutory meeting (GA) to approve the above documents, appoint board members (Q1-Q2)
- Transfer those documents to the government (July; within 1 month after GA) to the Staatsblad and the KBO
- Maintain the Ultimate Beneficial Owner (UBO) register, and reconfirm the register every year even when there are no updates
- Maintain the (effective) membership register
- Establish a privacy register
- Declare a privacy policy
Legal admin
[edit]- JustBan verification
- Clean criminal record
Tax declarations:
[edit]- Perform a yearly inheritance declaration (Q1)
- Perform a yearly tax declaration (Q2)
- Pay taxes, as required (local, regional, federal)
- Produce tax certificates for gifts (possibly via other non-profit organisations) (Q2)
- Request and maintain the VAT register, if required (quarterly):
- VAT declaration, if required
- foreign VAT transactions declaration, if required
Organisation
[edit]- Organise regular board meetings
- Have an insurance for board members
- Have a volunteer insurance
- Social administration: only when having employees
- Budget request (Q4)
- Receive and manage the grants (December-January-June-July)
- Perform the (half)yearly reporting to the Foundation (July)
- End of year grant reporting (January)
- Pay back any remaining budget for the previous year
- ↑ VSDC Review 189, Jan-Feb 2020, p. 4 - Jaarlijkse verplichtingen