Many Belgian investors can expect to receive a reimbursement from Belgian tax authorities following a decision to respect a Belgian supreme court’s jurisprudence on double taxation of French dividends paid to Belgian investors, L’Écho reported on Friday.
Until now, the Belgian Government levied a withholding tax of 30% on Belgian citizens in addition to French taxes of 12.8% on dividends. This was despite legislation set out by the 1964 Franco-Belgian tax treaty which allowed for a flat rate deduction on part of foreign tax (QFIE).
After several favourable legal cases filed by investors to reclaim these, Belgian tax authorities have now agreed to reimburse the QFIE amount, even on dividends that have not been declared on personal tax returns.
The decision, which will remain in force until at least 2026 when a new tax treaty is agreed, should benefit many Belgian investors. In 2024, Belgian savers and investors paid a record amount of withholding tax, approximately €7.6 billion, up 41% from 2023.
