With effect from 1st January 2010 all Belgian premium taxes and other parafiscal charges payable in relation to business written via Belgian coverholders or intermediaries incepting after 31st December 2009 must be paid through to syndicates along with the premium.  Underwriters may implement the changes with immediate effect if arrangements can be put in place to do so.

Premium taxes, etc will be settled to the appropriate tax authorities by Lloyd's tax department.  This change to procedure is necessary to comply with local requirements and to bring local intermediary arrangements in line with other Belgian business, i.e. direct assured business.

In all cases Lloyd’s underwriters and brokers should ensure that Belgian coverholders and intermediaries they deal with are made aware of the changes.

The arrangements in relation to handling Belgian income tax remain unchanged.