Belgium Relaxes Its Bank Secrecy Rules

Until recently, Belgium was one of the few countries that did not participate in the international exchange of bank account data. The Belgian tax authorities took the position that the domestic provisions governing bank secrecy (article 318 of the Income Tax Code (1992)) prevented them from investigating the bank details of non-Belgian nonresidents at the request of another tax administration.

Belgium relaxes its bank secrecy rules, Tax Notes International, 10 May 2010, p. 632
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