Adjustment with respect to the tax reduction for pension savings
A bill of law containing various provisions was recently submitted to Belgian Parliament. Amongst other measures this draft legislation contains a provision on the tax reduction for pension savings. In 2014 the European Court of Justice ruled that, as the Belgian tax reduction for pension savings is only possible for payments made to Belgian institutions and funds,
Belgian savings pension system not in line with EU law
On 23 January 2014, the Court of Justice of the European Union (the Court) issued its decision in Case C‑296/12 Commission v. Kingdom of Belgium. The Court declared that, by introducing and maintaining a tax reduction in respect of contributions paid to a savings pension (savings account or savings insurance) in so far as that reduction
