Cashless, Contactless, the future of payments in Belgium.

Cashless, Contactless, the future of payments in Belgium.

It’s a common thing to say that Belgium’s economy is very much cashless.

According to the ECB (European Central Bank), in 2017, cash represented only 32% of the value of all transactions at points of sale, even if in terms of the number of transactions, cash is still used in 63% of cases.

One explanation could be that until recently, retailers were reluctant to accept card payment for small amounts (usually under 10 or 15 €) due to relatively high transaction and communication costs determined by payment operators. This situation ended when PSD II entered into force: the share of cashless payments should logically continue to increase and accelerate along with the apparition of new Payment Initiation Service Providers (PISPs).

Even without this, Belgium is already a European and a world champion of cashless transactions.

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Legal tech in Belgium

Legal tech in Belgium

Law firms are expensive, vague and elitist, can legal tech offer a solution?

A recent study showed that customers see lawyers and law firms as expensive, vague and elitist with a lack of empathy. In the article below we will see if legal tech could mean the solution for these perceptions and look what’s ahead for legal tech firms in Belgium.

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Belgian ISF - Subscription tax on securities accounts

Belgian ISF - Subscription tax on securities accounts

While France has just abolished its solidarity wealth-tax and replaced it with a tax on real estate assets, thus restricting its scope of application, Belgium has recently introduced a tax on securities accounts. It can be perceived by some as a Belgian equivalent to the “ISF” (French wealth tax). Many tax exiles who left France for Belgium are therefore considering relocating back to France, depending on their bottom-line impact. They are now facing a dilemma: on the one hand living in a country that is taxing their heritage and on the other hand living in a country taxing where financial income will become taxable.

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