Debt securities - rates, eligibility, availability of relief etc. - Belgium (Securities held in CBF)
Withholding Tax
Debt securities integrated into the X/N system of the National Bank of Belgium (NBB)
| Standard rate of withholding tax: | 0% | Holding requirements / restrictions: | Yes |
The holding of NBB-eligible debt securities in LuxCSD is restricted to eligible tax-exempt beneficial owners (see "Types of beneficial owner" under General information).
Holdings of such securities are exempt from taxation.
Belgian debt securities deposited with Euroclear Belgium
| Standard rate of withholding tax: | 30% | Holding requirements / restrictions: | No |
As of 1 January 2017, the standard rates of withholding tax on interest on all Belgian debt securities deposited with Euroclear Belgium is 30%.
Eligible beneficial owners are, upon submission of the required certification, entitled to a quick/standard refund.
Availability of relief
The availability for tax relief varies according to the Belgian security type, as follows.
Click on the image in each case to view a diagram showing the availability of relief at source and/or reclaim of withholding tax on income from Belgian debt securities.
Debt securities integrated into the X/N system of the National Bank of Belgium (NBB)
NBB-eligible debt securities may only be held through LuxCSD by beneficial owners that qualify as tax-exempt (see "Market specifics" under General information).
Upon submission of the One-Time Certificate for Belgian Debt Securities integrated into the NBB X/N System before the first trade in NBB-eligible securities settled in LuxCSD, automatic exemption at source is applied on the entire customer entitlement for all interest payments. No further action is required from customers in order to receive gross payments.
In these circumstances, relief at source and reclaim of withholding tax do not apply to interest from NBB-eligible debt securities.
Belgian debt securities deposited with Euroclear Belgium
Relief at source from withholding tax is not officially granted by Belgian legislation and it is therefore not available through LuxCSD.
Beneficial owners that are residents of Double Taxation Treaty (DTT) countries or that are supranational or international organisations can reclaim withholding tax on interest from Belgian debt securities using the quick/standard refund procedures.