A new double taxation treaty between Belgium and France will make Belgium less attractive to French tax avoiders, according to De Tijd.
Belgium has been a magnet for many French tax exiles because the country does not tax profit from Belgian residents that have obtained shares in French companies.
The policy has made Belgium a tax haven for the French, as profit is taxed at just over 12% in France.
With the new treaty ensuring double taxation between France and Belgium specifically targeting French tax avoiders, this phenomenon is about to come to an end.
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The new rules will come into force on 1 January 2023 and will ensure that France can tax profit at a rate of 12% on large shares at over 25% in French companies.
In order to do so, the Belgian resident must have lived in France for six out of ten years before arriving in Belgium, which means that the French residing in Belgium in many cases won't be exempt from France's tax laws.
Many high profile French celebrities have moved to Belgium in order to avoid paying higher tax rates in France.
The most high profile case was Gerard Depardieu, who in 2012 caused a large media storm after announcing he would move his residence to a small town in Belgium, just over the French border, to avoid higher taxation under the François Hollande government.
