Classic Financial Solutions SA/NV

Old fashioned ethics in a modern context

 

News

October 16 -- Online tax declarations more popular and dealt with more promptly

More than 2 million tax returns have been filed using the online "Tax-on-Web' service. This compares to 1,305,991 declarations made in 2008, representing a 54% increase. When the service was launched in 2003, just 57,000 declarations tax were made online, and the numbers look set to increase even further. A survey by AXA ((Agence pour la simplification administrative) found that 95% of those questioned said they intended to use the online service next year and that those who had used it found it easier and quicker than filling in the forms on paper. Furthermore, from this year, declarations made using the Tax-on-web tool are treated with a higher priority that those on paper. Re-imbursements to those who used the service will be administered more rapidly than ever before and be made by the end of November. Approximately half of all applicants receive a rebate, while about a quarter need to pay more.

Individuals had to return the tax forms by the 3rd of July. Accountants must return their clients declarations by the end of October.

 
September 1 -- Bank accounts no longer totally blocked after death

From August 31, 2009,the bank accounts of a deceased spouse are no longer blocked. Up to 5,000 euros, or half the amount in the account can be used by the surviving spouse to meet regular living expenses. In the case of the death of a partner after this date, the spouse or legal cohabitant can now gain access to the current and saving accounts of the deceased, which will ease the difficulties often encountered by a surviving partner when a long time was needed to settle the estate.

Payments relating to the last illness and the funeral of the deceased must be given priority and the amount needed to settle these bills will excluded from the amount that is unblocked from the accounts. Partners should take care, however, not to remove more than the stipulated ceiling, especially when taking small amounts from different accounts. Should this occur, the survivor must not only repay the excess, but risks losing their rights concerning the inheritance; this includes the right to refuse the inheritance, when the estate contains debts.