Belgium revives Europe’s savings tax fight

Belgium is blocking a key part of the agreement over a European Union savings tax regime because it wants to extend until 2005 a scheme whereby companies with 'co-ordination centres' in Belgium pay less tax. A Belgian official said that unless Belgium received an assurance from the European Commission that it would not take legal action in the matter, Belgium 'will block the formal decision on the co-ordination centres and the milk quotas'.