24 Nov '10
Belgian tax burden among highest in the world
Summary
Belgium has one of the highest tax burdens in the world for companies, according to a report by the World Bank and Price Waterhouse Coopers (PwC).
Belgium has one of the highest tax burdens in the world for companies, according to a report by the World Bank and Price Waterhouse Coopers (PwC).
In a table of 183 countries, Belgium comes in at 151. The bottom countries include Panama, Bolivia, Venezuela and Chad, while the list is headed by the low-tax Maldives, Qatar and Hong Kong.
Belgium's effective tax rate is 57%, compared to a world-wide average of 48% and the European Union average of 44%. Company tax makes up part of the burden, said Frank Dierckx of PwC, but the cost of employing labour is even worse. "Only France and Italy, among European nations, scores worse," Dierckx said.
