Belgium among the worst students in Europe
The exceedingly high wage cost in Belgium is mostly due to the effective tax rate paid by the Belgian taxpayers, combined with a fairly high living cost.
Belgian companies in all sectors experience difficulties against foreign competitors who can offer lower prices thanks to lower wage taxes, or simply offer a higher net salary to talented employees. This triggers a ripple effect throughout the entire Belgian economy.
In this context, our Human Resources Directors must face tremendous challenge when working on payroll strategies, including:
- War for talents: they must ensure that talented people are attracted to their companies and keep working there, by offering competitive compensation & benefits packages.
- Payroll costs optimization: the payroll costs must be contained to an appropriate level to allow the company to turn in benefits.
- Payroll compliance: they must ensure that their payroll strategy complies with the applicable laws and regulations, which is difficult in a changing environment.
HR Directors and their Payroll and Comp&Ben teams can therefore really boost their company’s business performance by leveraging available tax incentives to retain personnel on payroll, attract talents and offer the best working conditions while keeping costs in check.
Legal compliance is therefore paramount, and we can help you implement the following tax incentives to enhance your competitivity and efficiency.
