Dutch invest "black money" in Belgium

http://www.flandersnews.be/cm/flande...0105_rich_folk

Dutch invest "black money" in Belgium

Fri 05/01/07 - A report in Friday's edition of the daily 'De Morgen'
says that the Dutch have some 8.5 billion euros of undeclared income
invested in Belgian savings and share accounts. This makes Belgium the
second most important recipient of "black money" from the Netherlands,
after Luxembourg.
(VRT)
The strict law governing bank confidentiality that exists here makes
Belgium a particularly attractive destination for our northern
neighbours who want to keep their savings out of the clutches of the
tax man.

Belgium currently refuses to give any information about foreigners with
bank accounts here to the taxation services in their home countries.

The former tax inspector Tom Apeldoorn says that he isn't surprised
that Belgium is such a popular destination for Dutch tax-evaders.
"Not suprising"
He told the paper that "Belgium is an easy place for the Dutch to keep
their black money.
(VRT)
"Belgian banks ask few questions. Most of the money from the
Netherlands is deposited in banks in towns and cities just over the
border".

Mr Appeldoorn says that he estimates that between 35,000 and 70,000
Dutch residents have bank accounts in Belgium.

Rich French people favour Belgium

Low capital gains tax and good transport links have attracted wealthy
French people to Belgium in their droves.

Top businesspeople such as Bernard Tapis and film stars like Emmanuelle
Béart have moved north to protect their fortunes from the French tax
man.

With Brussels only just under one and a half hours away from Paris on
the high-speed Thales train, the Belgian capital is an especially
popular destination for French exiles.

The better areas of the Elsene district of the city and the capital's
poshest suburb Ukkel have almost French nationals living there.