On March 27th 2014, the Belgian Senate approved the tax treaty with Belgium that was signed in 2007, as well as the protocol signed 2009. The treaty provides for the following withholding rates:

• Dividends - 0% if paid to a company that holds at least 10% of the paying company's capital for an uninterrupted period of at least 12 months, otherwise 10%
• Interest - 5%
• Royalties - 0%

The protocol sign…