Belgian tax law currently does not have a general thin capitalisation ("thin cap") rule. A specific thin cap rule exists for interest payments or attributions to (real) beneficiaries taxed at low rates on that interest. This is referred to as the "7/1 debt-equity ratio" (art. 198, 11° of the Belgian Income Tax Code).
Another specific 1/1 thin cap rule for payments to specific persons (e.g. directors of the company) currently exists (art. 18, 4° of the Belgian Income Tax Code).
According to the draft Act, the 7/1 rule will be replaced by a new rule that introduces a (general) 5/1 debt-equity ratio.