Law Containing The Ways And Means Of Budget Year 2013 Budget (1)

Original Language Title: Loi contenant le budget des Voies et Moyens de l'année budgétaire 2013 (1)

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
belgiquelex.be - Carrefour Bank of Legislation

4 MARCH 2013. - Act containing the Ways and Averages of the Budget Year 2013 (1)



ALBERT II, King of the Belgians,
To all, present and to come, Hi.
The House of Representatives adopted and sanctioned the following:
Article 1er. This Act regulates a matter referred to in Article 74, 3°, of the Constitution.
Art. 2. For the fiscal year 2013, the current state revenues are assessed:
For tax revenues, at . . . . EUR 43.440.129.000
For non-tax revenues, to . . . . . EUR 5.563.693.000
Be together. EUR 49.003.822.000
in accordance with Part I of the attached table.
Art. 3. For the fiscal year 2013, state capital revenues are assessed:
For tax revenues, at . . . . . EUR 488.000.000
For non-tax revenues, at . . . . EUR 2.231.883.000
Be together. EUR 2.719.883.000
in accordance with Part II of the attached table.
Art. 4. For the fiscal year 2013, the proceeds of loans are estimated at 47.484.000.000 euros, in accordance with Title III of the attached table.
Art. 5. Direct and indirect taxes, principal and additional decimals for the benefit of the State, existing as at 31 December 2012, will be recovered during the year 2013 according to the laws, decrees and tariffs that regulate the attitude and perception, including laws, decrees and tariffs that have only a temporary or provisional character.
Art. 6. The application of Articles 3 and 4, § 1er, of the Act of 28 December 1954 containing the budget of the Ways and Means for the year 1955, is extended until 31 December 2013.
Art. 7. The King may, within the limits and conditions it determines, grant tax exemptions to the revenues of borrowings that, in 2013, would be issued or placed primarily abroad by the federal State, communities, regions, provinces, agglomerations, municipalities and public institutions or bodies, and in particular Treasury bills in foreign currency.
With respect to the income of the securities of these borrowings that would be held by Belgian residents, however, tax exemptions may only be granted to the sole financial institutions or enterprises assimilated therein and professional investors referred to in article 105, 1 and 3°, of the RA/CIR 92, as well as, without prejudice to the application of article 262, 1° of the Income Tax Code 1992, to legal persons
Art. 8. § 1er. To cover, as part of public debt management, the insufficiency of revenues in relation to the expenditures of the year 2013, including repayments of borrowings and any expenses resulting from the financial management operations referred to in § 3, 1°, below, or the passenger cash imbalances in the fiscal year:
1° the King is authorized to issue public loans.
When the King has established a general framework for the issuance of borrowings that determines the limits of powers that may be delegated, the Minister of Finance may be authorized to issue, during the fiscal year, the borrowings that fall within this framework.
2° the Minister of Finance is authorized to issue cash certificates, Treasury bills or any other interest-bearing financing instrument.
The authorities referred to in paragraph 1, 1 and 2 are also applicable to the issuance of public borrowings and other interest-bearing instruments, the conditions of which are set out in 2013 and the proceeds of which are paid to the Consolidated Revenue Fund in a subsequent fiscal year to cover, as part of public debt management, the insufficiency of revenues in relation to the expenditures of that last fiscal year.
The loans referred to in paragraph 1, 1 and 2 and paragraph 2 may be issued both in Belgium and abroad, in euros and in foreign currencies.
§ 2. The main objective of public debt management is to minimize the financial cost of federal government debt as part of market risk management and operational risks and in accordance with the overall objectives of fiscal policy and monetary policy.
Public debt management also aims to minimize the financial cost of the debt of public entities of the central government, other than the federal state itself.
To this end, the Minister of Finance, on the proposal of the Strategic Debt Committee operating within the general administration of the Treasury, determines the general guidelines for the management of federal debt; These guidelines include, in particular, the structure of the debt portfolio and the level of risks associated with it.
The Strategic Debt Committee shall make arrangements for the implementation of these general guidelines. These are the framework for the implementation of the financial transactions properly referred to by the Formed Debt Agency within the FPS Finance, Treasury Board.
§ 3. The Minister of Finance is authorized:
1° to conclude any financial management transaction within the limits determined under § 2 above.
A financial management operation means:
(a) Treasury's day-to-day operations, namely, the financial transactions resulting from the need to ensure a daily cash balance;
(b) trade in securities;
(c) the adaptation of existing contractual conditions or terms of refund of borrowings, carried out in agreement with lenders and in accordance with market conditions;
(d) investments of any kind, including those necessary for the continuity of Treasury funding;
(e) swaps of interest and foreign exchange swaps, options, futures contracts, and any other instrument for the management of financial, budgetary and credit risks related to the federal State's debt and authorized by the Minister of Finance under § 2 above;
(f) purchases of federal debt securities in secondary markets;
(g) temporary disposal, through transfer-retrocession or other transactions that have a similar economic effect, cash certificates, linear bonds, split securities and State Goods to primary dealers and recognized dealers.
On the proposal of the Strategic Debt Committee, the temporary arrangements referred to in paragraph 1er may be extended to institutions subject to a rating obligation for the Treasury of the Kingdom of Belgium, other than the primary dealers and recognized dealers referred to in paragraph 1er;
(h) the provision of a very short period of money by the Treasury as a last resort lender to the public entities of the central government. This provision must be due to the insufficient supply of the account of the entity concerned open to bpost caused by operational problems and be indispensable for the execution of compelling payments;
(i) the financial transactions of the Consolidated Revenue Fund other than those referred to in point (h) with the public entities of the central administration, with the exception of cash facilities to cover temporary cash deficits of those entities for which other arrangements are made for the placement or investment of their availabilities are set out in section 3 of the Royal Decree of 15 July 1997, which deals with measures to consolidate the financial assets of the public administrations, taken under section 2,er, and 3, § 1er, 6°, and § 2 of the Act of 26 July 1996 to fulfil the budgetary conditions of Belgium's participation in the European Economic and Monetary Union or for which a minimum amount of availability is fixed from which the provisions referred to in article 3 are applicable;
(j) derivatives for management:
* the cost of federal state energy consumption;
* the cost of the other operating expenses of the Federal State, which the King may designate.
2° complementary to exchanges of existing debt securities against new linear obligations, to liquidate prorated interest payments related to securities in circulation, by way of handover to persons entitled to linear obligations;
3° in accordance with the Convention of 5 January 1994 with the National Bank of Belgium, to create dematerialized securities representative of the debt of the State, having the same characteristics as those of the securities in circulation, in order to lend these short-term securities to the National Bank of Belgium according to the needs of its securities liquidation system;
4° to issue dematerialized securities representative of the State's debt to be accounted for in the securities liquidation system of the National Bank of Belgium with a view to making possible the transactions provided for in 1°, g) or with a view to placing these securities as financial security rights to third parties;
5° to proceed, depending on the needs of the securities liquidation system of the National Bank of Belgium, to the creation of linear obligations having the same characteristics as the linear obligations in circulation in order to make possible the reconstruction of linear obligations using BE-strips.
§ 4. By derogation from section 19 of the Act of 22 May 2003 on the organization of the budget and accounting of the federal state, the proceeds of the short-term financing instruments (cash certificates, Treasury bills and similar instruments) as well as the outputs resulting from the operations referred to in § 3, 1°, g) are not included in the budget.
In order to ensure continuity of Treasury funding, the authorities referred to in § 1er, paragraph 1, 1° and 2°, also applies to borrowings whose conditions are fixed in previous fiscal years and whose proceeds are paid in the course of 2013.
The Minister of Finance is authorized to manage a foreign currency cash flow to avoid any impact on the conduct of the foreign currency monetary policy as part of the Treasury's financial management.
As part of the financial management operations provided for in § 3, 1° above, the Minister of Finance is authorized to hold titles:
1° in the securities liquidation system of the National Bank of Belgium;
2° in international securities liquidation systems and in international securities conservation systems;
3° in certain financial institutions authorized by the legislation that is applicable to them to retain deposits on behalf of third parties.
§ 5. The Minister of Finance may delegate to the SPF Finance, general administration of the Treasury, as well as to the staff of the Debt Agency incorporated in the general administration of the Treasury that he designates for the specific tasks provided by him:
(a) the power to determine, within the limits provided by the King and according to the needs of the Treasury, the amount and the financial conditions of the emissions of public borrowing referred to in § 1er, paragraph 1, 1 and paragraph 2, as well as the powers necessary for the successful conclusion of these emissions;
(b) the powers referred to in § 1erparagraphs 1 and 2 and 2, § 3 and § 4, paragraphs 3 and 4.
Art. 9. § 1er. The Minister of Finance is authorized to increase interest income or interest expenditures resulting from public debt management operations, respectively, in deduction or dependant of interest credits from the "public debt" section of the general expenditure budget.
§ 2. It is also authorized to increase capital revenues or capital expenditures resulting from public debt management transactions related to the debt-reimbursement dates, respectively, in deduction or debit credits from the "public debt" section of the general expenditure budget.
§ 3. The provisions of § 2 do not apply to premiums paid during the sale or purchase of options.
Art. 10. By derogation from article 17 of Royal Decree No. 150 of 18 March 1935, coordinating the laws relating to the organization and operation of the Caisse des Dépôts et Consignations and making amendments under the Act of 31 July 1934, the interest rate to be increased in 2004 to the consignations, voluntary deposits and bails of all categories entrusted to the Caisse des Dépôts et Consignations Ministre,
Art. 11. For projects under their jurisdiction, for the implementation of Article 5, § 1, of Regulation (C.E.E.) No. 1941/81 concerning an integrated development programme for the disadvantaged areas of Belgium, the financial means to be allocated are paid to the budgets of the Regions.
These financial means are taken from the reimbursements to the Belgian treasury that the European Communities are required to make, as a cost of collection, pursuant to Article 3, 1°, 5th paragraph, of the decision of 21 April 1970 of the Council of Ministers of the European Communities on the replacement of Member States' contributions by resources specific to the European Communities, approved by the law of 23 December 1970.
The amounts to be transferred are determined by the Minister of Finance according to the competitions decided or provided by the Commission of the European Communities.
Art. 12. Pursuant to Article 53, 1° of the special law of 16 January 1989 on the financing of communities and regions, as amended by the special law of 16 July 1993 to complete the federal structure of the State, by the special law of 13 July 2001 on the refinancing of communities and the extension of the fiscal powers of the regions and by the special law of 19 July 2012 on the just financing of the Brussels Institutions, and taking into account:
- of the award referred to in Article 4, § 5 of the same special law of 16 January 1989 of the interest of delay, the charge of the interests of moratoriums, and fixed and proportional tax fines on the regional taxes referred to in Article 3 of the same special law;
- the situation referred to in Article 5, § 3, second paragraph, where the Flemish Region itself provides, from the 1999 taxation year, the real estate pre-payment tax service referred to in Article 3, 5 of the said special law;
- of the situation referred to in Article 5, § 3, where the Walloon Region provides itself, from 1er January 2010 the tax service for the regional taxes referred to in Article 3, 1°, 2° and 3° of the said special law and where the Flemish Region provides itself, from 1er January 2011 the regional tax service referred to in Article 3, 10°, 11° and 12° of the said special law;
regional tax transfers referred to in section 3 of the said special law, plus the above-mentioned interests and fines, are estimated for the fiscal year 2013 at EUR 3,876,376,000 for the Flemish Region, EUR 2,362,737,000 for the Walloon Region and EUR 1,157,775,000 for the Brussels Capital Region.
Art. 13. In accordance with Article 53, 2° of the special law of 16 January 1989 relating to the financing of communities and regions, as amended by the special law of 16 July 1993 to complete the federal structure of the State, by the special law of 13 July 2001 relating to the refinancing of the communities and the extension of the tax powers of the regions and by the special law of 19 July 2012 bearing a fair financing of the institutions of Brussels and taking into account the law of 23 May 2000
In accordance with Article 59 of the Law of 31 December 1983 of the institutional reforms for the German-speaking Community the transfer referred to in Article 58nonies of the said Law for the fiscal year 2013, including the final balance of the count of the fiscal year 2012, is estimated at 6,285,254 EUR for the German-speaking Community.
Art. 14. In accordance with Articles 53, 3° and 35octies of the special law of 16 January 1989 relating to the financing of communities and regions, as amended by the special law of 16 July 1993 to complete the federal structure of the State, by the special law of 13 July 2001 relating to the refinancing of the communities and the extension of the fiscal powers of the regions and by the special law of 19 July 2012 with a fair financing of the institutions of Brussels, the transfers referred to articles 34 and 35
Art. 15. The transfer referred to in sections 65bis and 65ter of the special law of 16 January 1989 relating to the financing of communities and regions, as amended by the special law of 16 July 1993 to complete the federal structure of the State, by the special law of 13 July 2001 concerning the refinancing of the communities and the extension of the fiscal powers of the regions and by the special law of 19 July 2012 bearing a fair financing of the Brussels Institutions, for the fiscal year 2013, including the balance
Art. 16. The transfer referred to in section 46bis of the special law of 12 January 1989 relating to Brussels institutions, as amended by the special law of 13 July 2001 on transfer of various competences to regions and communities, by the special law of 13 July 2001 on refinancing of communities and extension of the tax powers of the regions and by the special law of 19 July 2012 amending article 16bis of the special law of 8 August 1980 of institutional reforms and article 1989
Art. 17. Revenues for the benefit of communities and regions are paid, as the case may be, to a general expenditure allocation fund or to a third-party account.
Art. 18. This Act comes into force on 1er January 2013.
Promulgation of this law, let us order that it be clothed with the seal of the State and published by the Belgian Monitor.
Given in Brussels on 4 March 2013.
ALBERT
By the King:
Minister of Finance,
S. VANACKERE
The Minister of Budget,
O. CHASTEL
Seal of the state seal:
The Minister of Justice,
Ms. A. TURTELBOOM
____
Note
(1) Regular session 2012-2013.
Parliamentary documents. - Bill No. 2521/001. - Annex, No. 2521/002. - Errata, no. 2521/003. - Remarks of the court of accounts, no. 2521/004. - Amendments, nbones 2521/004, 006 and 007. - Report, no. 2521/008. - Text adopted, no. 2521/009.
Annales parliamentarians. - Discussion. Sessions of February 6 and 7, 2013. - Adoption. Session of February 7, 2013.

For the consultation of the table, see image