Belgians continue to regularise undeclared income

“The money ends up in the official circulation and thus benefits our economy.” Minister of Finance Johan Van Overtveldt reacts with satisfaction that two years after its introduction, the tax amnesty is still leading to applications for the regularisation of undeclared income. The tax amnesty allows Belgians to declare undeclared income without consequent sanctions. Since 2016, more than 1,600 applications have already been submitted, amounting to EUR 1 billion.

End-of-year rush

Part of that money goes back to the treasury, which is in this case EUR 326 million. Minister Van Overtveldt expects to be able to increase this figure further. “There is always an end-of-year rush. Last year, as many applications were submitted in December as in the previous eleven months,” says Johan Van Overtveldt.