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Belgium Ups Withholding Tax Exemption For SME Employers

by Ulrika Lomas, Tax-News.com, Brussels

28 November 2013


On the recommendation of Belgian Finance Minister Koen Geens, the Council of Ministers approved a draft Royal Decree, providing for an increase in the percentage exemption from professional wage-withholding tax (précompte professionnel) for employers in the small- and medium-sized enterprise (SME) sector.

Consequently, the actual exemption rate for payment of the précompte professionnel will rise to 1.12 percent for SME employers from January 1, 2014. This measure forms part of efforts to extend the Government's stimulus strategy, designed notably to revitalize the economy and to strengthen the competitiveness of businesses in Belgium in the long-term.

The draft legislation has been submitted to the State Council for examination.

The draft Royal Decree modifies, in terms of professional wage-withholding tax exemption, AR/CIR 92, pursuant to Article 2757, paragraph 4, of the 1992 Income Tax Code.

TAGS: Finance | tax | business | Belgium | corporation tax | legislation | tax rates | withholding tax | tax breaks | Tax

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