Hi all,
I have a question related to gift tax.
I will receive an amount of money from my parent, who doesn’t live in Belgium since 15+ years but has the money in a Belgian bank account.
According to the vlaanderen website [https://www.vlaanderen.be/en/gift-tax#zrboyvug-1](https://www.vlaanderen.be/en/gift-tax#zrboyvug-1) , it looks like there is this exemption
“Movable property can be gifted by notarial deed, by manual gift (e.g. handing over a sum of money) or by bank gift (a transfer of money). If you do not register the proof of gift (of movable property), you don’t have to pay gift tax.”
If I receive the money directly through bank transfer does it really mean I do not need to claim/register the amount? Would it cause any issues in terms of tax etc?
I am a Belgian citizen living here as a tax payer since 2 years.
1 comment
You can receive a gift, especially in this case if it’s from a parent. But do keep in mind that if this person passes away within 3 years you still have to pay estate tax. Up to 50k that estate tax from a parent is 3%.
https://www.notaris.be/nieuws-pers/detail/wanneer-wordt-een-geschenk-een-schenking