Belgian firms sent almost 266 billion euros to tax havens last year

Belgian firms sent almost 266 billion euros to tax havens last year
The 266 billion euros deposited in tax havens is way above initial expectations.

Hundreds of Belgian firms sent close to 266 billion euros to tax havens last year, De Tijd reported on Saturday.

Any Belgian individual or firm paying over 100,000 euros to a company, financial institution or individual in a tax haven within one year needs to declare it to the Belgian tax department.

For fiscal 2020, the department received declarations for 266 billion euros deposited in tax havens, according to figures released by Finance Minister Vincent Van Peteghem (CD&V). This was way above the expected amount, according to De Tijd.

Early last year, it had been announced that such transfers amounted to 172 billion euros for fiscal 2019, but the final figure for that year was over 288 billion.

The corresponding figures for 2018 and 2017 were 207 billion and 130 billion respectively.

However, the number of companies declaring such operations has remained stable, De Tijd reported.


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