Belgium taxes its Royal family for the first time - Macleans.ca
 

Belgium taxes its Royal family for the first time


 

Belgium is reining in its royals, who have caused outrage for trying to exploit tax loopholes.

Under a new system, approved by government this week, all royals except the king will pay taxes for the first time, and see their allowances cut. The $1.2 million annually awarded to Prince Philippe, the heir to the throne, will be reduced to a salary of $240,000, though he can now claim staff and expenses on top of that.

And Queen Fabiola, widow of the previous king, will see her annual allowance cut to $600,000 from $1.7 million. The changes stem from anger earlier this year when Fabiola attempted to avoid paying steep inheritance taxes by setting up a trust to shield her estate.


 
Filed under:

Comments are closed.