Wealthy Belgians pretending to live in Monaco hit with €100m tax bill

Pedro Gonçalves
Wealthy Belgians pretending to live in Monaco hit with €100m tax bill

The Belgian tax authorities are demanding €100m from Belgians who merely pretended to move to Monaco in order to avoid paying tax in Belgium as it launches a tax avoidance crackdown. The special investigations division of the Belgian tax authorities tracked down 147 wealthy Belgians, who reported they were moving to live in Monaco. However, reality shows they had only registered an address that turned out to be a hotel room or a post-box. The investigations unit considers these HNIWs guilt...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?