Belgium is a founding member of the European Union located in Western Europe. The Belgian economy is strongly globalized.
The gross value added (GVA) is generated by manufacturing industry, energy and water; construction; market services and non-market services.
Withholding tax rates in Belgium are 0.0-25.0 %. Belgium signed 100 double taxation agreements.
Belgium signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Belgium has FATCA agreement with the U.S. in effect since 23 April 2014 (Intergovernmental Agreement Model 1).
The banking sector of Belgium is highly influenced by the neighbouring countries: Germany, France, Luxembourg and the Netherlands. Of the total 103 banks operating in Belgium 41 banks are branches of the banks from these countries.