Belgium

Details

  • Type: Business and industry issue
  • Date: 20/11/2012

New tax measures in Budget 2013 

e-Tax Flash
The federal government has reached an agreement on the Budget for 2013. The Budget contains the following tax measures:

Corporate tax

 

  • Notional interest deduction (NID): the calculation of the NID rate for 2013 (assessment year 2014) will be based on the average 10-year OLO rates in the third quarter of 2012 instead of the entire year 2012, resulting in a NID rate for 2013 of 2,742% (+ 0,5% for SME’s) (yet to be confirmed);
  • Capital gains tax: capital gains on shares (which are now exempt for corporate tax purposes) will be subject to a separate tax of 0,4% (+ 3% crisis contribution) as from 2013. The tax is not deductible for corporate tax purposes.

 

Withholding taxes

 

  • Movable withholding tax: the rate will be increased from 21 to 25%. Liquidation proceeds will remain taxed at 10%. The withholding tax will again be final in principle. The obligatory reporting of movable income in the tax return and communication of information to a central contact point will be abolished;
  • Dividends paid by Real Estate Investment Companies (Sicafi - Vastgoedbevaks) will be subject to a withholding tax of 15%;
  • The wage withholding tax on temporary unemployment benefits will be increased.

 

Miscellaneous

 

  • Insurance tax on premiums paid in branch 21 and 23: increase from 1,1% to 2%;
  • Excise duties: increase of excise duties on tobacco and on wine;

 

More details will be communicated once they become available.
 

 

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