The Prime Minister's office of the incoming Belgian government announced last week that it is planning to declare a tax amnesty for undeclared money held abroad.
According to spokeswoman Anne Somers such an amnesty appears to be "on the negotiation table". In common with similar amnesties that have come and gone around the world, taxpayers will escape prosecution in return for a levy on the funds they repatriate to the country. It is thought this levy will vary between 2% and 10%.
The incoming government has yet to declare how much it stands to gain from the venture in additional revenue, though it is expected to be several billion euros. The National Bank estimates that Belgians have around 160 billion euros held in foreign bank accounts.
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