The highest tax level in the world.

Belgium already has the highest tax level in the world, somewhere around 56 % of our income goes to our government. Now we are in the formation of a new government and despite the high taxes in our country we still have a huge deficit in the budget and a total debt of over 500 billion euros. So, extra money has to be found by the new government.

Rent tax

So, now they are trying to focus on other forms of income. People that receive rent for a second, third or more houses or apartments will now have to pay taxes on the rent they cash in. Up until now this was almost completely left untaxed. With this new tax, I have very little problem, but only if it lowers the tax on labour.
And that is still unclear at this moment…

Tax on interest of savings accounts

Today interest on savings accounts is free of taxation below 1020 Euros interest per customer. That will be erased and everyone will be taxed on their interest on the savings accounts. And there will be an amount that will be returned via the tax account, but it will all be put together, interest, dividends, etc… a certain amount will be returned. How much is not known, but it won’t be more than 300 Euros per Belgian per year.

If you live in the USA or another country that has way less taxes. Be content, we work 7 months a year for the government over here!

Sincerely,

Pele23