Together with the World Bank PwC consultants looked at tax pressure on industrial companies in 190 jurisdictions. In Belgium tax levels have been cut from 58.7% to 57.1% after employers' social contributions were lowered. In France the state takes a 62.2% cut, but this is the only other country that taxes business more. Belgium now performs worse than Austria, Greece and Slovakia too.
Average world taxation on industrial businesses is 40.5%. For Europe the figure is 39.6%.
Taxation levels have been falling across Europe thanks to lower corporation tax. As a result of the government's tax shift Belgian tax levels are now back at 2009 figures. PwC expects tax levels on industrial businesses to fall to 55.1% by 2020, which it argues is still "high". The consultants would like to see further action as the tax shift reductions may not be enough to secure Belgium's entrepreneurial future.