Capital Gains Taxes in Belgium

[tombgrt]

Here in Belgium, after almost 400 days without a government, we might get a breakthrough with the latest news on the reforms.

 

One idea from Wallonia (the poorer part of the country) is to implement capital gains taxes like most countries have. Mainly to prevent speculation because that is what caused the crisis (his words, not mine...). 50% tax on gains within the year, 25% for gains between 1 - 8 years. It is still unsure wether losses will be recoverable from this tax and wether they will look at your income or some exempt amount.

Also, dividend taxes for all stocks will now be 25% and there will be a "temporary" tax of 0,5%/year if you have more than 1,250,000€.

 

I won't bother you with other crazy proposals.

 

Just yet another way to steal capital from Flanders (which ownes about 80% of it) and relocating it to Wallonia. And I am afraid most parties will agree because they don't really care about this subject. All new income but no savings it seems.

 

Already living in one of world's most taxed (western) countries, I don't believe I have any reason to pursuit my dreams of becoming a reasonable good investor or/and entrepreneur in such environment where socialism is driven to new extremes and it hardly pays anymore to work hard.

Why would one even bother to graduate and work hard if people can live of unemployment income forever (which almost equals minimum wage) sitting on their ass all day without any incentive to make a real living.  Capital is being driven away rapidly.

 

Sorry, just had to let of some steam. ;)

[biaggio]

Tom,

 

I was in Bruge almost 25 years ago. What a beautiful place.

 

Here in North America we complain that we have "too much" government. "400 days without a government"-how does that work?