Belgian account

For Belgian people there is some overhead to having a dutch account.

  1. The account needs to be declared with the national bank (and they don’t have itsme :dizzy_face:)
  2. Dividends have to be reported
  3. The 'beurstax’has to be reported

And there is the risks of making mistakes in the declarations we need to do, or if we forget, there is the risk of fines.

It would be greatly appreciated if there would be the possibility to have a Belgian account and the taxes deducted by BUX.

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Hi @Jokke I just talked to the team and they told me that we are working on it. In the future, we are hoping to report the ‘beurstax’ for our Belgium users.

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An idea on the go live date? Will it be this year? Thanks!

Hi Fergus

Yes, my feeling is that this issue is very urgent as this is a risk we are taking by using Bux instead of another platform.

Can you keep us updated or will this be mentioned in a newsletter.

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I will definitely communicate it with you @BenLod and our community once I’ve more news about it.

Its the n1 reason people are giving me to not do it. When I try to persuade them to go on BUX.

Hi @Peterm

At the moment it’s not automated yet, but we are trying to help our Belgium customers as best as possible. Once a new Belgium customer starts using BUX, they will immediately receive an email about ‘beurstaks’ and how they can fill it in.

BUX calculates everything like how many transactions a customer did, how much % goes to the tax authority, and what the total amount is that needs to be filled in. The right bank account number is also mentioned.

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I feel the same as @Peterm concerning this issue. It would help a lot if the automation of this process is provided by the broker. I also feel that this issue holds back a lot of potential Belgian customers. Especially those without much investing/financial experience.
But as @Fergus has explained, Bux does send us a monthly email with a detailed summary and clear explanation on how to declare this ourselves. I tend to do this once every two months and it takes me about 5 minutes to fill in the PDF form with the correct numbers, send the email to the right address and transfer the according amount to the IBAN number of the tax collector.

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Yes. I do it every month. With the monthly update from BUX its very easy. Just copy paste and email. But when I am hyping up BUX to friends. Thats the nr1 reason to stick with their current platform. Just an observation, not an opinion. :blush:

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Thank you so much for sharing @Peterm! We really appreciate it :smiley:

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