December 2014 Newsletter

The goal of our newsletter is to keep you abreast of recent legal and tax developments in the various areas where our firm has recognised expertise.

Editorial

Dear reader,

As the year draws to an end, it is time to reflect on the past 12 months and to look ahead. With only two more weeks left to surprise us, one thing is clear: 2014 did not bring the long-awaited economic recovery.

While the economy improved, a number of factors contributed to a markedly lower growth. International tension rose to long-forgotten levels. Yet, at the same time, the prospect of a wide-ranging free trade agreement (the TTIP or Transatlantic Trade and Investment Partnership) between the US and the EU is getting closer and closer.

With new federal and regional governments in Belgium, the changes seen so far will be limited compared with what is yet to come.

Change brings uncertainty but also opportunities. Will the economy finally turn the corner in 2015? Will the investments in a greener economy relieve the pressure on the environment and bring a general boost?

Well, of course we don’t know. Whatever happens, we will be keeping you abreast of the legal and tax developments affecting your business, in Belgium and abroad with CMS colleagues, because next year, too, you will need to make the decisions which are right for you.

In the meanwhile, we would like to wish you a merry Christmas and a happy New Year.

Have an enjoyable read.

Tom Heremans

Managing Partner

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