Belgium's new federal administration aims to reduce taxes by about €1.5 billion, according to budget tables from the government agreement signed by the coalition partners.
The new government plans to implement a reform that will include a significant increase in the tax-exempt portion of personal income.
This change will have an impact on the majority of taxpayers.
By the end of the legislative term, in 2029, the reform is estimated to cost €6.4 billion. Various measures, such as the simplification or elimination of certain regimes and subsidies, are planned to offset its financial impact.
In the final analysis, the reform is expected to cost around €3.8 billion.
Left-leaning and centrist parties have fought to ensure that wealthier individuals contribute, with the most notable measure being a capital gains tax, projected to generate €2.27 billion for the state.
