2024-03-23 06:55:12
A growing number of wealthy Belgian families are transferring their assets to a “private foundation”, thus avoiding future generations having to pay inheritance tax, according to a survey carried out by Litter et The time and published on Saturday.
The economic dailies have mapped all Belgian private foundations for the first time. These have existed since 2002, but have been increasing in recent years. Since 2019, 785 new ones have been added, or more than a third of this type of structure currently. Half of them are in Flanders, almost a third in the Brussels-Capital Region and barely a fifth in Wallonia.
Of the 2,105 private foundations active in our country, 517, or almost a quarter, are used for wealth planning purposes around a family inheritance.
The De Croo government recently increased the tax levied each year on the assets of private foundations. Until now, a flat rate of 0.17% applied. It was replaced by a progressive tax, which can go up to 0.45% (from half a million euros of assets). According to Luc De Broe, professor of tax law also at KU Leuven, it will however never compensate for the inheritance taxes saved by families going through this type of construction.
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