Belgium has issued the individual income tax brackets and rates for the 2020 tax year (2021 assessment year). The standard brackets and rates are as follows:
- up to EUR - 13,440 - 25%
- over EUR 13,440 up to 23,720 - 40%
- over 23,720 up to 41,060 - 45%
- over EUR 41,060 - 50%
The brackets and rates used in calculating the effects of allowances are as follows:
- up to EUR 9,450 - 25%
- over EUR 9,450 up to 13,440 - 30%
- over EUR 13,440 up to 22,400 - 40%
- over EUR 22,400 up to 41,060 - 45%
- over EUR 41…