Belgium new income taxes

Belgium new income taxes. The government has reached an agreement on additional budget and recovery measures for 2013. Besides the intent to strengthen the fight against tax fraud, several tax measures have been agreed.

The notional interest deduction rate for 2013 will be applied based on the OLO rate of the third quarter of 2012 (2.742%) (+0.5% for small and medium-sized enterprises). A 25% withholding tax will be levied on income from moveable goods with some exceptions. A 0.4% capital gains tax on shares will be applied from 2013 for “holding companies” (excluding small and medium-sized enterprises) in cases where these capital gains are currently tax exempt.

Among other measures, the Belgium VAT rate of 21% will be raised to 22%, lawyers will be subject to VAT, certain tax reductions will be abolished while the introduction of a capital gains tax on shares for personal income tax purposes and of a minimum tax for corporate income tax purposes is envisaged. Finally certain fines currently still deductible for income tax purposes will no longer be deductible.


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