Tuesday, November 20, 2012

Belgium is still a paradise for private fortunes

The Belgian government just made public today the new set of fiscal measures aiming to reduce the federal budget deficit to 2.15% in 2013.
Concerning measures about taxation of private fortunes, we can say that the Socialist-Christian-Liberal coalition has been very gentle :
- no question of tax on private holdings
- no question of tax on capital gains for private investors
- no question of increased inheritance taxes
- no question of new tax on equity transactions
The only new measures touching private fortunes are an increase of the withholding tax rate on dividend and interest revenues that will be 25%. The limit of 20.000 € revenues per year under which the taxation rate was 21% is then abolished.

Another measure touches the Belgian companies holding financial assets : there will be a dinstinct tax on capital gains on these assets, but nothing for private investors.

No doubt : Belgian is still a fiscal paradise for private fortunes. You can sleep peacefully, Bernard (Arnault) !