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What is taxed under Belgian Inheritance Tax Law?
According to Belgian Inheritance Tax Law, inheritance tax is due on the transfer of ownership on the deceased’s death. If the deceased is a tax resident in Belgium at the time of their death, succession tax will apply to all their worldwide assets (including real estate located outside Belgium).
If the deceased is a non-resident of Belgium, transfer tax will only apply on real estate located in Belgium, net of any related liabilities.
Both taxes will be due from the beneficiary of the inheritance, regardless of whether he/she is, or is not, a resident of Belgium.
What is taxed under Belgian Gift Law?
Levied in the form a registration duties (“droit d’enregistrements” or “registratierecht”), Belgian Gift Tax (“droit de donation” or “schenkbelasting”) is due on the donation of movable or immovable property provided that the donation is passed before a Belgian notary. The donation of a real estate located in Belgium legally requires a notarial deed. To determine the regional taxation regime, the tax residence of the donor must be considered.
Tax classes for Belgian Inheritance Tax
One factor affecting the tax rates is the nature of the beneficiary i.e.:
- Direct line (children and parents), spouse and legal cohabitant
- Brother and sisters
- Uncles and aunts
- Any other persons
Belgian inheritance tax rates also vary depending on the region and the taxable amount.
Tax classes for Belgian Gift Tax
The tax rates are controlled by several criteria including:
- Real estate (proportional duties) or movable property (fixed duties)
- The relationship with the beneficiary
- The donor tax residence
- The region
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