Net Asset Tax – annulment of retroactive tax increase for credit institutions

Olivier Hermand 8 May 2015


The Net Asset Tax (‘NAT’) rate for assessment year 2013 for credit institutions has been increased from 0.0800% to 0.0965% by the Act of 17 June 2013 and from 0.0965% to 0.1200% by the Act of 30 June 2013. The increased NAT rate applied to already filled NAT returns, resulting in taxpayers being forced to pay an unexpected amount of tax.

As a reminder, the Belgian Constitutional Court rendered a decision on 22 January 2015 annulling the retroactive increase in the NAT rate introduced by the Act of 17 June 2013 (from 0.0800% to 0.0965%) with respect to assessment year 2013. See our newsflash for more details.

On 7 May 2015, the Belgian Constitutional Court rendered a decision annulling the retroactive increase in the NAT rate introduced by the Act of 30 June 2013 (from 0.0965% to 0.1200%) with respect to assessment year 2013.

The Act of 30 June 2013 has also increased the NAT rate to 0.1929% as from 1 January 2014. The Constitutional Court however rejected the appeal with respect to the increase in the NAT rate for assessment year 2014 and onwards.

Following this decision, credit institutions which paid the additional NAT for assessment year 2013 can request a refund to the Belgian tax authorities.

Download the decision:

FR: http://www.const-court.be/public/f/2015/2015-054f.pdf

NL: http://www.const-court.be/public/n/2015/2015-054n.pdf