September 20, 2021

Taylor Daily Press

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Fiscus wil mee profiteren van olympische topprestaties: zijn Derwael en co straks deel van hun premie kwijt?

Fiscus wants to take advantage of the best Olympic performances: It’s …

Last Friday, the Olympians were honored at the Grand-Place in Brussels.
Photo: BELGA

Wake up sour for our Olympia. Last Friday, before the Van Damme memorial, they were still generously honored and their Olympic installment was officially handed over. Today it looks like they may have to pay a large portion of those premiums to the tax authorities.

The premiums, totaling €571,500, will already be taxed by the Belgian tax authorities. In the previous two cycles, in London and Rio, they were not taxed in Belgium under the double taxation agreement with the United Kingdom and Brazil, and these two countries decided to apply a 0 percent withholding tax. Belgium also has such an agreement with Japan, but the country has decided to leave it to Belgium to decide whether or not to tax the contributions of Belgium team members.

The gold medal in Tokyo brought in 50,000 euros (12,500 for an athlete in a team sport such as hockey), the silver medal was accompanied by a bonus of 30,000 euros and a bronze medal of 20,000 euros. Up to €5,000 can be earned from eighth place.

The government can always decide to exempt premiums exceptionally.

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