Declaration of foreign assets and income in Belgium

Already since tax year 1997, Belgian tax resident individuals have to declare the existence of foreign assets/accounts they hold with banks abroad. This declaration of foreign assets is to be made in the annual income tax declaration. This means that taxpayers have to “tick the box” to confirm that they hold a bank account abroad and that they have to mention the country where the bank account is held. The tax administration can (subsequently) ask the taxpayer to provide her with all tax relevant information in relation to the declared...

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