FAQ

• A new legislation on the taxation of savings?
  

  The European directive of 2003 concerning the taxation of savings becomes effective on July 1st 2005 and contains the basis regulations of the legislation, which the 25 Member states of the EU have transposed in their national legislation. Some countries and areas outside the European Union will apply similar regulations by means of a range of international treaties. All countries and areas, which will apply the Savings Directive, are hereafter indicated as the « participating Member States».

  In Belgium the Directive was transposed by the Law of May 17th 2004 and the Royal Decree of March 26th 2005, completed by administrative circulars and explanatory documents set up by the financial sector.

• Why this new legislation? Resources?
  
• Exchange of information? Taxation at the source?
  
• Which percentage will be applied as SRT? Quid with the Belgian withholding tax?
  
• How about the Bank confidentiality?
  
• Is this related to me? If yes, what does it involve?
  
• Which are the concerned investments or credit balances?
  
• On which part of the income from an investment fund does the SRT apply?
  
• How can I avoid State of residence tax?
  
• Can I recover the SRT or deduct it from other taxes?