On 21 August 2016, the Belgian legislation introducing a harmonized bank tax entered into force. The bank tax replaces several prior taxes, including the annual taxes on credit institutions, collective investments, and credit and insurance companies, as well the deduction limits for certain losses and the financial stability contribution for banks.
For 2016, the bank tax is due by 15 November and applies at a rate of 0.13231% on the amount of debt held towards clients as of 31 Dec…