Legal obligations

Any (non-profit) organisation in Belgium has a long list of legal obligations.

Failing to be compliant has financial and legal consequences. Strict timing is necessary.

(long) List of legal obligations[edit]

mention all mandatory entries on outgoing documents
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
administer a (minimum) general ledger
have an up-to-date financial reporting available
- generate the yearly balance sheet, the income and expense overiew, and the yearly budget (financial statements)
organise a (yearly) statutory meeting to approve the above documents, appoint board members (Q1)
transfer those documents to the government (Q1)
maintain the Ultimate Beneficial Owner 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
- maintain the GDPR register
Tax declarations:
- perform a yearly tax declaration (Q2)
- perform a yearly inheritance declaration (Q1)
- 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:
  - VAT declaration, if required
  - foreign VAT transactions declaration, if required
have an insurance for board members
have a member insurance