Belgium Publishes FATCA Law

Belgian Law No. 16, dated December 16, 2015, and published in the official gazette on December 31, 2015, introduces rules that enable Belgium to comply with various instruments subscribed by the government to comply with its obligations under:

  • the intergovernmental agreement to implement the information reporting and withholding tax provisions of the U.S. Foreign Account Tax Compliance Act, signed on April 23, 2014;
  • the multilateral competent authority agreement on the automatic exchange of financial account information, which will apply as of 2017; and
  • the EU Directive on Administrative Cooperation (Directive 2014/107/EU), amending the directive on mutual assistance in the field of direct taxation, which applies as of 2016.

Belgium Publishes FATCA Law, Worldwide Tax Daily, 12 January 2016