Monday, 1 November 2010
Belgian Corporate Tax - Just Make It Up!
I quote from page 4:
"... a new, innovative and powerful measure in international tax law enabling all companies subject to Belgian corporate tax to deduct from their taxable income a fictitious interest..."
The morning when I discovered this little gem was just perfect, because I later found myself seated at lunch next to a really nice chap who turned out be a big wheel in the Finance Office. I expressed my delight at the institutionalisation of the concept of entering fictitious figures on tax returns (although I myself am subject only to fixed local taxes, and am not a Belgian taxpayer myself, I hasten to add!)
It transpires, as with so many things in Belgium, that this does not actually mean what it says. It means something else a bit different, but we couldn't really get to the bottom of it.
I quite like the Belgian flag - nice bold colours - but what it is really missing is an image of Kafka in the centre!