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The Belgian Council of State has issued a landmark ruling on the Foreign Subsidies Regulation (FSR), clarifying the obligations of both contracting authorities and bidders in public procurement procedures exceeding €250 million. This decision arose from a dispute over Brussels' casino concession and establishes that FSR compliance is mandatory regardless of whether procurement documents explicitly mention it, with non-compliance rendering award decisions unlawful.

Belgium's new Book 7 of the Civil Code introduces fundamental changes to real estate and construction law, reshaping risk allocation, conformity standards, and contractual relationships. With implementation set for September 2027, property developers, contractors, and real estate professionals face critical decisions about updating their standard documentation and contractual frameworks.

Belgium's tax administration has issued a crucial circular clarifying the application of the new capital gains tax on financial assets, addressing key uncertainties around realization timing, earn-out structures, partnership vehicles, and historical exemptions. The guidance provides essential insights for taxpayers navigating payment modalities, matrimonial property regimes, and the complex interaction between the tax and existing corporate structures.