The self assessment tax form on income (impôt des personnes
physiques (IPP), must be done by the end of August of the year following
the tax year. Forms
are available on the Office
for fiscality of companies and incomes website.
The taxable income is made by all the net income, less fees and deductions.
The total income is equal to the net income of the following categories:
- property income
- capital income
- professional income (salary)
- other incomes
In case of marriage or officially living with a partner, a global taxation
is established on behalf of both partners. However the income of each partner
is noted separatly.
The level of tax is very high in Belgium (you might
pay more than 40%, in addition to the 13% of mandatory contribution on your
gross salary). For the 2003 tax year, it was:
| Income section |
Tax rate(IPP)
|
| from 0,01 EUR to 5.705,00 EUR |
25%
|
| from 5.705,00 EUR to 7.565,00 EUR |
30%
|
| from 7.565,00 EUR to 10.785,00 EUR |
40%
|
| from 10.785,00 EUR to 24.790,00 EUR |
45%
|
| from 24.790,00 EUR to 37.185,00 EUR |
50%
|
| from 37.185,00 EUR to 54.540,00 EUR |
52.5%
|
| above 54.540,00 EUR |
55%
|
You can calculate you tax online on the Tax-cal
website.
|
The local tax (précompte immobilier)
The précompte immobilier is the amount of tax
to pay when you own a property. This tax is mainly dedicated to
regions and towns and can vary depending on the location.
|
The most usual VAT rate is 21%.
The tax of profits for companies is 33%.
Financial incomes are taxed marginally.
