Tax changes for the Belgian real estate market
This Newsflash highlights significant measures that influence the landscape of the Belgian real estate market. Indeed, on 9 October 2023, the Belgian government reached an agreement regarding the Federal Budget for 2024. The current budget round was an important one, as the economic climate is deteriorating and this has an impact on the budget of
New single annual bank tax announced
On Friday the 13th, the Council of Ministers approved a draft bill of law establishing a new single annual bank tax replacing four different existing taxes, with a view to a better distribution of the tax burden between small and large banks. Overall, it leads to a tax increase of EUR 55 million. As a
Net Asset Tax – annulment of retroactive tax increase for credit institutions
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
Net Asset Tax – Constitutional Court annuls retroactive increase of rate
On 22 January 2015, the Belgian Constitutional Court rendered a judgement annulling the retroactive increase of the Net Asset Tax (“NAT”) rate introduced by the Act of 17 June 2013 with respect to assessment year 2013. This Act had increased the NAT rate from 0.0800% to 0.0965% as from 1 January 2013, as a result
