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Belgian banks already prepared for new regulations thanks to Thaler
Belgium has recently adopted a number of new fiscal measures that, among others, introduce a 4% solidarity tax on financial revenues over €20,000, a withholding tax increase, higher taxes on stock market transactions and a dematerialization tax for Belgian securities. This new cluster of legislation has changed some calculations in a number of sudden and unanticipated ways for both Belgian banks and their customers, and naturally has a major impact on banks’ IT operations.
The new regulations were decided in December 2011, with very little time in between for banks to prepare. Luckily, Belgian clients who are equipped with Thaler received a software upgrade before the measures even went into force. “Callataÿ & Wouters anticipated the new regulations and immediately sprang into action,” one of our clients says, “The speed with which they adapted Thaler to our new needs was amazing. They cared about the smoothness of our operations just as much as we did.”
So, on January 1, 2012, Callataÿ & Wouters clients in Belgium were able to continue their operations without loss of momentum and fully intact customer trust. Our customers’ immediate compliance with the new measures means they have gained another edge over their competitors.
