Tax haven treaties: time for a new procedure

Minister of Finance Johan Van Overtveldt is taking a fresh look at quite a number of tax haven treaties. Under previous governments, these were cranked out in assembly line fashion. By the end of the year he intends to have a clear overview of these files. “I have not waited for the Panama Committee’s report before getting started,” the minister states. “We are seriously considering whether the procedures need to be reformed.”

No ‘Andorra-deal’ in the works

This remark is a response to rumours in the press concerning a potential tax treaty deal with Andorra being in the works. It is true that the administration is currently listening to Andorran questions in this regard, as per procedure. “However, a mere request from Andorra does not mean that we are obliged to positively satisfy that request,” Johan Van Overtveldt says. “We will assess whether their requests conform to the strict conditions imposed by Belgium.”

Black list for tax havens

The minister has also emphasised that he would like to see a ‘black list’ of tax havens in short order. A consensus on this would still need to be reached before the new year. In addition, Johan Van Overtveldt is tremendously in favour of coupling sanctions to the list. “Should we be unable to reach an agreement within Europe, we will go on to deal with the issue on our own,” he concludes.