Article 122 of the programme act of 2 August 2002 reads as follows:‘Article 122(1) Subject to the derogations provided for in this section, the provisions laid down in Article 190 of the Income Tax Code 1992 apply to gains realised on ships by resident companies or Belgian branches of non-resident companies which engage exclusively in the activities described in Article 115(2).(2) When an amount equal to the sales value is re-invested in the way and within the periods indicated below, the gains realised on the sale of ships are exempt provided that the ships sold were fixed assets for more than five years prior to their sale.(3) The re-investment must be in ships, co-ownership of ships, shares in ships or shares in a shipping company/shipping operator which has its registered office in the European Union.(4) The re-investment must be made at the latest at the cessation of the professional activities and within a period of five years from the first day of the taxable period in which the gains were realised or the first day of the penultimate taxable period preceding that in which the gains were realised.(5) In order to justify application of the tax scheme referred to in paragraph 1, the taxpayer must enclose a statement in conformity with the model laid down by the Minister of Finance or his representative with his income tax declaration for the tax year relating to the taxable period in which the gains were realised and each subsequent tax year until the re-investment has been effected in accordance with paragraphs 2 to 4.(6) If there is no re-investment in the manner and within the period provided for in paragraphs 1 to 4, the gains realised shall be regarded as profits in the taxable period in which the re-investment deadline has expired.(7) The investment taken into account as re-investment must be retained as part of the assets for at least five years but can, where appropriate, be replaced within three months in the event of sale.
Ukrep iz člena 122 zakona o dolgoročnem programu z dne 2. avgusta 2002 se glasi:„Člen 122§ 1 S pridržkom odstopanj, omenjenih v tem oddelku, se določila iz člena 190 zakonika o davkih na dohodek iz leta 1992, uporabljajo za povečane vrednosti, ki so jih na ladjah realizirale rezidenčne družbe ali belgijske ustanove nerezidenčnih družb, ki izvajajo izključno le dejavnosti, opisane v členu 115(2).§ 2 Če se znesek, ki je enak vrednosti realizacije, ponovno investira na način in v rokih, ki so navedeni v nadaljevanju, so povečane vrednosti, realizirane ob odtujitvi ladij, oproščene davka, v kolikor so odtujene ladje v času njihove odtujitve imele značaj nepremičnine več kot 5 let.§ 3 Ponovno investiranje mora nastopati v obliki ladij, solastniških deležev ladij, delnic v ladjah ali delnic ladijske družbe/ladijskega prevoznika s statutarnim sedežem v Evropski uniji.§ 4 Ponovno investiranje mora biti izvršeno najkasneje ob ukinitvi poslovne dejavnosti ter v roku 5 let, ki začne teči prvi dan davčnega obdobja realizacije povečane vrednosti, ali prvi dan predzadnjega davčnega obdobja pred obdobjem, v katerem je realizirana povečana vrednost.§ 5 Za utemeljitev sistema obdavčitve, navedenega v odstavku 1, mora davčni zavezanec svoji davčni prijavi prihodkov zadevnega davčnega obdobja, v katerem je realiziral povečano vrednost, ter vsakega nadaljnjega davčnega obdobja, dokler ni izvedeno ponovno investiranje v skladu z odstavki 2 do 4, priložiti izpisek po vzorcu, ki ga je določil finančni minister ali njegov pooblaščenec.§ 6 Če ne pride do ponovnega investiranja v oblikah in rokih, ki jih predvidevajo odstavki 1 do 4, se povečana vrednost šteje za dobiček davčnega obdobja, v katerem je potekel rok za ponovno investiranje.§ 7 Investiranje, ki se upošteva kot ponovni vložek, se mora hraniti kot element aktive najmanj pet let. Vendar pa ga je možno v primeru odtujitve v treh mesecih zamenjati.