Belgian companies are expected to pay a record €21.85 billion in corporate tax in 2024, according to calculations by the financial magazine Trends.
This record figure is based on available data and reflects a trend of steadily increasing corporate tax revenues in recent years.
Analyst Pascal Flisch from Trends Business Information attributes the rise to fewer tax loopholes and an increase in the number of corporate taxpayers. In 2024, nearly 433,000 companies out of a total of 548,320 were subject to taxation.
Flemish companies contributed 63% of the total tax revenue, although collections in Wallonia decreased overall, the magazine reported.
However, the two companies paying the highest corporate taxes, Mastercard Europe and GlaxoSmithKline Biologicals, are both based in Wallonia, contributing over €485 million and €308 million respectively in 2024. Janssen Pharmaceutica ranked third, with close to €158 million.
(Note: Trends’ analysis was shared by Belga through its press services, and Belga cannot be held responsible for the content provided by external sources.)
