In July Belgium adopted a government bill that would triple the tax on the value of Belgian investment funds and increase the tax on the physical delivery of bearer securities from the current 0.2 percent to 0.4 percent of the value of the securities.

On 4 November the government decided instead to triple the tax on the physical delivery of bearer securities while maintaining the tax on the net asset value of investment funds at 0.06 percent, and to apply that tax to the net asset value of investment funds offered by foreign financial institutions and to life insurance products linked to investment funds (called “branch 23 products” in the Belgian insurance sector). (More …)

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