Belgian Government agreed on the budget 2015-2016. | KPMG | BE

Belgian Government reached an agreement on the budget 2015-2016 and on the ‘tax shift’

Belgian Government agreed on the budget 2015-2016.

The Belgian Government announced today that it reached an agreement on the budget 2015-2016 and on the implementation of the ‘tax shift’.

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In a nutshell the principle measures announced today:

 

  • The employers social security contribution will go down from 33 % (actual) to 25 %;
  • The personal income taxes will be lowered for low and mediumsized wages.
  • There will be extra incentives for investments made by PME and investments made in R&D and innovation.

 

Taxes raised:

 

  • The excise taxes on alcohol, tobacco  and diesel (except professional diesel) will be progressively raised in the coming years.
  • The withholding tax on movable income (interest, dividends) will go up from 25 to 27 % (no changes expected for the classical savings deposits)
  • The vat rate on electricity consumption by individuals goes back up to 21 % (comes from 6 %) as from 1 September 2015.
  • Introduction of a capital gains tax on quoted shares realized in the short term (max 6 months ownership).   

The government will now start working on the implementation of the different measures to make sure they enter into force at the latest as from 2016.

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