Belgium Backs Down on Investment Fund Tax Increase

In July Belgium adopted a government bill that would triple the tax on the value of Belgian investment funds and increase the tax on the physical delivery of bearer securities from the current 0.2 percent to 0.4 percent of the value of the securities. (For prior coverage, see Tax Notes Int'l, 11 Aug. 2003, p. 529, 2003 WTD 148-1, or Doc 2003-17841).