Multinational corporations in Belgium did not declare €1.17 billion in taxes in 2024. The authorities have filed a complaint.
The Federal Finance Ministry's Administration for Large Enterprises recorded €1.17 billion worth of undeclared taxes by multinationals which did not record their profits correctly last year, L'Echo and De Tijd reported on Wednesday.
This is the largest sum of undeclared taxes ever recorded in Belgium. The amount the tax authorities aim to recover from multinationals is four times higher than the €262 million total in 2023.
Of the €1.17 billion undeclared last year, €981 million came from "exceptional cases". These taxes were avoided in the assessment years 2022 and 2023, with some cases taking up to 18 months to process.
Small number of companies
It is not known which multinationals the Belgian tax authorities are targeting. However, it is clear that the exceptional €981 million can be attributed to a very small number of large companies. Given the scale of the regularisation, these companies will likely need to mention it in their annual accounts.
Companies facing a tax increase after adjustments to their profits can contest the decision.
Jeroen Jacobs, an administrator at the Finance Ministry, told L'Echo that "when there is a dispute, 80% of court rulings are in favour of the tax authorities."
