Belgium Told To End Tax Breaks For Region's VC Investors

Law360, New York (February 27, 2012, 6:14 PM EST) -- The European Commission directed Belgium on Monday to rewrite an allegedly discriminatory part of its tax code that only makes available to residents of Flanders a 35 percent credit for investing in government-owned venture capital funds.

Residents of other European countries who make all or most of their income in Belgium should be entitled to the same tax benefits as Flemish Belgians, the commission said in a statement Monday.

In 2005, the Belgian government's private equity and venture capital arm ParticipatieMaatschappij Vlaanderen NV launched the €111.1...
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