New proposal for Belgian tax reform launched by the Minister of Finance

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As part of the government agreement, the Minister of Finance Vincent Van Peteghem has been tasked to prepare a vast reform to make the tax system more fair and neutral.

The Minister plans to submit a bill by this summer for the first phase of the vast tax reform, with the proposed measures set to take effect in January 2024.

The main objective of the reform is to increase purchasing power and encourage more work by shifting the burden towards wealth and consumption. The idea is to better tax income from wealth and consumption.

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Author: Yuriy Kachmar, Legal Counsel, Ayming BeNeLux.