With effect from 1st January 2010 all Belgian premium taxes and other parafiscal charges in relation to business incepting after 31st December 2009 in respect of Lloyd’s business must be paid to syndicates, including taxes and parafiscal charges arising on business written through a Belgian coverholder or via a Belgian intermediary.

Underwriters may implement the changes with immediate effect if arrangements can be put in place to do so.

In all cases Lloyd’s underwriters and brokers should ensure that Belgian coverholders and intermediaries that they deal with are made aware of the changes by 30th September 2009 at the latest.

The arrangements in relation to handling Belgian income tax and taxes due on direct assured business not involving a local intermediary remain unchanged.