Belgium Implements 'Approved' Part of Tonnage Tax Regime

The Belgian Parliament on 2 August 2002 adopted a Belgian tonnage tax regime to encourage the flagging in of Belgian-based shipping companies that had abandoned the Belgian flag in favor of lowtax jurisdictions (articles 115 to 127 of the Loi Programme of 2 August 2002, published in the Belgian State Gazette on 29 August 2002.