FAQ

• A new legislation on the taxation of savings?
  
• 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?
  

  The investments and balances aimed by the new legislation are credits of each nature as well as certain investment funds.

  Are considered covered by the new Directive:

  • current account
  • savings account
  • term account
  • bonds and Euro-bonds
  • bonds with zero coupon (interest is paid on due date)
  • cash certificate (traditional or capitalisation)
  • bonds funds, monetary funds, funds which invest in liquidities, mixed funds).

  Are in principlenot covered by the new Directive:

  • shares
  • insurance - and retirement savings products
  • derivative products (warrants, options, …)
  • investment funds which do not invest in credits.

  Certain credits (mainly bonds and cash certificates) benefit from the « grandfather clause » and arenot aimed at. It concerns credits issued before March 1st 2001, with the reservation that there are no new emissions after March 1st 2002.

• 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?