2023-09-18 13:53:00
Clearly, it does not yet benefit from the temporary reduction in withholding tax. And this for the simple reason that the law has not yet been passed. Some holders noticed this by deciding to sell their government bonds, just a few days following subscribing to them. An unpleasant surprise with a limited impact, however, since the pro rata interest deducted at 30% only covers a few days.
It remains to be seen when the law will be passed. On the side of the Minister of Finance, Vincent Van Peteghem (CD&V), we are content to explain that “the parliamentary agenda has not yet been established”, while also specifying that the Council of State has given the green light . We can therefore deduce that the main obstacle to voting has been removed.
The state voucher is good, but there is better! Like a return of more than 3% net…
Uncertainties
This, however, does not completely eliminate the uncertainties regarding the “privileged” status of this state bond. We know that bankers believe that there is a form of tax discrimination compared to term accounts which are deducted at 30%. However, it seems unlikely that they would challenge this transitional regime before the Constitutional Court given the exemption from withholding tax (up to 980 euros of interest) from which the savings account benefits.
In other possible, but unlikely, cases of dispute, the European Commission might judge this reduction in withholding tax to be advantageous for the Belgian State and would impose a fine. Another scenario: a foreign resident who would have liked to subscribe to the product takes legal action, claiming discrimination. “Such risks are low, but not zero,” explains a lawyer.
On the Van Peteghem cabinet side, we have always made it clear that there is no risk.
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