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Interest Income Abroad
Hi,
I am a Belgian national but originally from India. I have some fixed deposit investments in India currently which have earned interest. They are however taxed @30% at source before coming to my account.
My understanding is that I don't need to pay additional tax here on that amount in Belgium because - double taxation treaty between India and Belgium says that maximum tax chargeable on such interest amounts is 15% (Article 11,
http://ccff02.minfin.fgov.be/KMWeb/document.do?method=view&id=1293f97b-6... ).
Anybody who can help here?
Thanks,
Raghu
Perhaps make an appointment with your local tax office. Might be a queue, but they can give you free advice.
Most private tax firms charge €500+ per hour, and that is before you get an answer.
You probably don't have to pay additional tax, however you are obliged to declare it, even if there is no additional tax to pay.
