It has emerged recently that the Belgian government aims to significantly speed up the process of filing individual income tax returns, determined to reimburse taxpayers in the region of EUR1bn in excess withholding tax payments in 2009.
Referring to 2009 as a “sacred” year, given the prevailing international crisis, and the fact that the whole of Europe has been forced to report excessive deficits, the Belgian government has taken the decision to include the expected EUR1bn in tax repayments in its 2009 figures in a bid to, hopefully, improve figures for next year.
The amount of income derived from tax revenue is set to reach around EUR84.6bn in 2009 – EUR230m less than the figure put forward in July, and representing a reduction of 9.54% when compared to last year. However, tax revenue is expected to rise shortly, growing by 5.14% in 2010, and by 4.5% in 2011.
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