Belgium is located in Central Europe and has a territory amounts to 30,528 square kilometers. Belgium consists of 3 regions - Brussels Capital Region, Flanders and Wallonia.Belgium borders Netherlands, Germany, Luxembourg and France. Belgium has access to the North Sea. The capital of Belgium is Brussels, the location of key government institutions. Belgium has a population of 11,3 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - Standard tax rate 25%, 20% rate is applicable to the first EUR 100,000 of the taxable income. Tax returns are filed on an annual basis. Advance income tax payments are made on a quarterly basis
- Dividend withholding tax - Standard tax rate 30%
- Interest withholding tax - Standard tax rate 30%
- Royalties withholding tax - 30%
- Capital gains tax - Standard tax rate 25%
- VAT - Standard tax rate 21% or reduced rates from 0% up to 12% or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - from 25% up to 50%.
The following are the most common types of companies to incorporate a company in Belgium as:
- Limited liability company (Société à responsabilité limitée - SRL)
- Public limited company (Société Anonyme - SA)
- General partnership (Société en Nom Collectif - SNC)
- Limited partnership (Société en Commandite Simple - SCS)
- Partnership limited by shares (Société en Commandite par Actions - SCA)
- Cooperative company (La société coopérative - SC)
- European company (Societas Europaea)
- Branch office (Succursale).
Official currency of Belgium is euro (EUR).
According to the latest WTO reports Belgium holds 10th place globally among export economies, Belgium exports more than 80% of its national GDP. Herewith economy of Belgium is 100% dependant on fossil fuels import and the shutdown of nuclear power plants in 2025 will increase foreign energy dependance. 1/3 of Belgium's international trade is attributable to other EU member states.
Belgium's GDP increased by 1,6% in 2018 and amounted to around USD 526,4 million.