The Belgian federal government reached an agreement on a draft law to introduce a new annual tax on securities accounts (“solidarity contribution”).
According to a notice published in the Belgian official gazette (4 November 2020), the draft law includes an anti-abuse provision that would apply retroactively as from 30 October 2020. The draft law is subject to review by the Council of State.
The new tax on securities accounts—to be reinstated as an indirect tax—would:
The draft law includes a general anti-abuse provision that would target the following situations:
In these situations, there would be a rebuttable presumption of abuse, meaning that the new tax would apply unless the taxpayer provides evidence to the contrary.
The government has decided that the anti-abuse provision, for the purposes of the new tax on securities accounts, would apply retroactively as from 30 October 2020. So any of the above transactions as from 30 October 2020 would be deemed abusive (absent evidence to the contrary).
Read a November 2020 report prepared by the KPMG member firm in Belgium
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