Belgium overhauls general anti-avoidance rule and introduces 5/1 thin cap provision

Belgium has enacted more of the tax measures proposed at the end of November 2011 under the 2012 budget agreement. The newly enacted provisions include an overhaul of the general anti-avoidance rule and a new thin capitalization ("thin cap") provision. This newsalert summarizes the proposed and enacted income tax provisions that are most relevant to US multinationals.