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    Belgium has struck around sixty secret tax deals

    The fiscal ruling commission struck around sixty tax deals with multinational companies, allowing them to negotiate tax rates on profits made in Belgium. The content of these deals is classed as secret, De Standaard and Het Nieuwsblad reported on Thursday. Thanks to the “excess profit ruling”, foreign investors can avoid paying tax on a large part of their profits.

    “The fiscal ruling commission has struck around sixty deals of this type since 2005”, says the spokesman for Finance SPF (Federal Public Service), Francis Adyns. He did not reveal the content of these deals, which is confidential.

    The size of the tax rebates gifted by the fiscal authority is difficult to calculate. But authorities say, in the leaflet to promote the system, that some of the exonerations from tax on profits are as much as 60%. It could even be as much as 90%, according to an internal Finance SPF source.

    Andy Sanchez (Source: Belga)