Belgium Considers Value-Added Tax Increase to 22%, L’Echo Says

The Belgian government is considering the possibility of raising the value-added tax to 22 percent to help plug a hole in the 2013 budget, L’Echo reported, without saying where it got the information.

A VAT increase from the current 21 percent could raise 1 billion euros ($1.3 billion), according to the newspaper, which said a total of 3.7 billion euros needs to be found to keep the spending plan on track. Ministers discussed the 2013 budget on Oct. 31 and will resume talks tomorrow, according to L’Echo.

To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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