Belgian Plans for Broad Tax Reforms Include Rate Cuts

Belgian Finance Minister Vincent Van Peteghem has announced plans for broad tax reforms. Some of the main reform measures include:

• Increasing the tax-exempt portion for personal income tax from EUR 9,270 to EUR 13,390, along with a reduction in current tax bracket rates and the introduction of a new top bracket:
  • up to EUR 13,870 - 25%
  • over EUR 13,870 up to 24,480 - 35%
  • over EUR 24,480 up to 42,370 - 40%
  • over EUR 42,370 up to 84,740 - 45%
  • over EUR 84,740 - 50%
• Abolishing the special social…