|Belgium Prime Minister Announced Tax Plans for 2013|
On 21 November 2012, the tax measures of the budget 2013 were published
Some details of the plans, which apply from the tax year 2013 (assessment year 2014), are summarized below:
- From 2013, capital gains on the sale of shares, realized by large companies and holding structures, will be subject to a separate 0.4% tax (increased by a 3% crisis contribution). The tax is not deductible for corporate tax purposes.
- The withholding tax on dividends will become 25% in all cases. The withholding tax on interest will be increased from 21% to 25%. The withholding tax remains 15% for savings accounts which will in excess of €1,830 (to be indexed) and government bonds issued between 24 November 2011 and 2 December 2011.
- The withholding tax will, in principle, again be a final levy. The recently introduced system of obligatory reporting of dividends and interest in the tax return, communication of information to a central contact point and the additional austerity levy of 4% on passive income above €20,020 on which a withholding tax was levied of less than 25%, will be abolished.
- Dividends paid by real estate investment companies (Sicafi/Vastgoedbevaks) will become subject to a withholding tax of 15%.
The opinions expressed do not constitute investment advice and specialist advice should be sought about your specific circumstances.
Published on our website on December 12, 2012