Belgian Prime Minister Announces New Tax Measures

Belgian Prime Minister Guy Verhofstadt on October 12 gave his State of the Union address in the Chamber of Deputies, the lower house of the Parliament. Several new taxes to be introduced in 2005 are expected to yield substantial funds for the government coffers.

For the fifth consecutive year, the federal government has managed to balance the budget for 2005. However, a number of measures that were approved during the past few months will be postponed, resulting in a savings of €130 million. The postponements should not endanger social measures to fight poverty or increase jobs, and an increase in pensions and benefits will proceed as planned, Verhofstadt said. The most important new fiscal measures are described in more detail below.

Belgium Announces New Tax Measures for 2005, Tax Notes International, 18 October 2004
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