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Belgium
Overview
Last reviewed - 28 August 2024Belgium lies in the heart of the largest industrialised trading bloc in the world, the European Union (EU), and has existed as an independent kingdom since 1830. It is a constitutional monarchy and a parliamentary democracy, with King Philippe I reigning as the sovereign as of 21 July 2013. Belgium has a population of about 11 million people and three official languages: Dutch, French, and German. The currency of Belgium is the euro (EUR).
Belgium is divided into three regions, which are each responsible for the management of their own territory:
- The Flemish region (Dutch speaking) forms the northern part of Belgium, in which three seaports are located: Antwerp, Ghent, and Zeebrugge.
- The Brussels region (bilingual French/Dutch) is situated in the middle of Belgium (approximately 1 million inhabitants). The city of Brussels is the capital of Belgium, the capital of the European Union, seat of the North Atlantic Treaty Organisation (NATO), and host to numerous headquarters of other international organisations.
- The Walloon region (French speaking) is situated in the south of Belgium; Liège and Charleroi are its major cities.
Belgium is at the very top of the European hit parade when it comes to the best locations for research and development (R&D), industry, and logistics. It has a modern, private-enterprise economy that has capitalised on its central geographic location, highly developed transport network, diversified industrial and commercial base, and its highly educated inhabitants.
Industry is concentrated mainly in the populous Flemish area in the north, and much of Belgium's trade is with other EU countries. It has a relatively equal income distribution, and its gross domestic product (GDP) was EUR 584.7 billion in 2022.
As home to several EU institutions, Belgium is where all important European political decisions are made and is, accordingly, host to international organisations like NATO, the European Defence Agency (EDA), the European Environmental Bureau (EEB), and the World Customs Organisation (WCO). Owing to its central location, Belgium has become a melting pot of different cultures and economic and technological activities.
PwC Belgium's multi-disciplinary teams bring together global industry scope and experience as well as comprehensive knowledge of Belgium in terms of local issues and regulations. PwC is one of the leading tax service providers in Belgium.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
25 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
The tax return must be filed at the latest on 30 September of the tax year for financial years ending between 31 December of the previous year and the last day of February of the tax year. In other cases, the deadline for filing the tax return is the last day of the seventh month following the end of the financial year. An extension of the deadline is possible in case of serious reasons or force majeure. |
| CIT final payment due date |
In general, within two months following the issue of the assessment notice. |
| CIT estimated payment due dates |
(Optional) quarterly instalments. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
50 (plus communal taxes ranging between 0% and 9% of the Federal tax rate) |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
Income of year X must be reported by the taxpayer in a tax return during year X+1 (tax year). The assessment note is sent by the tax authorities by 30 June of year X+2. The tax return filing due date falls around June/July for resident tax returns (depending on whether it is sent on paper or online) and around November/December for non-resident tax returns. The exact dates are communicated by the tax authorities and vary each year. |
| PIT final payment due date |
Any tax balance due must be paid to the tax authorities within two months following the sending of the assessment notice. |
| PIT estimated payment due dates |
Withholding taxes are retained each month from the employee's gross salary. In some specific cases, withholding taxes may not be due. Self-employees must normally perform advance payments to avoid paying interest. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
21 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident and non-resident: 30 / 30 / 30 (but many exemptions or reduced rates exist) |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate (except capital gains on shares under certain conditions). |
| Headline individual capital gains tax rate (%) |
In general, exempted (except in some specific cases) |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
Annual tax on securities accounts (version 2.0) levied at a rate of 0.15% on the average value of the account in excess of EUR 1 million. |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
Inheritance tax rate varies depending on the region, the value of the assets inherited, and the relationship between the deceased and the beneficiary. |
| Headline gift tax rate (%) |
Gift tax rates vary based on the region where the gift is registered and range between 3% and 7%. |
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