Belgium introduces tax break for cross-border pension schemes

Added 11th October 2016

Belgium’s government has approved a bill that will exempt cross-border pension schemes from tax in a bid to position the country as the number one location for pan-European retirement products.

Belgium introduces tax break for cross-border pension schemes

Due to come into force on 1 January 2017, the new rules mean occupational pensions provided by a Belgium-domiciled insurance company to a non-resident are not subject to tax as long as there is no taxable revenue incurred in the country that is linked to the pension.

Belgium said the move would “confirm its position as the country of first choice for the establishment of pan-European pension funds”.

Under the new system, pension funds and insurance companies will be required to provide the authorities information on the scheme and their members to qualify for the tax break.

Leading life companies in Belgium include AG Insurance, Axa Belgium and KBC Assurances.

The move comes as in recent months a number of Dutch pension funds have relocated to Belgium due to the nation’s more flexible approach. 

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Monira Matin

Senior Reporter

Monira joined International Adviser in March 2016 from Informa Global Markets where she worked as a eurobond reporter for over two years, covering fixed income markets. She has previously held a number of editorial positions covering politics, insurance and technology. Monira has a degree in Journalism and Economics from City University.


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