Nearly €400m were declared to the tax authorities in Belgium last year as tax dodgers tried to avoid a hike in the size of fines imposed for tax avoidance.
More than a third of the total €400m in 'black money' was declared in December, local news outlets De Tijd and L'Echo report.
Belgium has been ramping up efforts to tackle tax avoidance. A total of 609 regulations were introduced in 2019, such as failure to declare capital income to the tax authorities. For this year, a hike in the size of fines imposed for tax avoidance is in the works.
Some €1.5bn has been declared in the context of this fourth regulatory surge since 2016, which has enabled the tax authorities to collect €475min charges, about €12m of it in 2019 alone, according to the Brussels Times.