Contracting in Belgium

[jamesbrown]

Listen to stek, you're well out of your depth and liable to get shafted by the tax authorities in one or more countries. "Discretionary loan award" = very bad. "Divident" =

It's too easy for new contractors to get sucked in with headline rates, thinking that they amount to far more than they do in reality (after costs). You'd be much better off taking the permie role, seriously.

[cojak]

Has no-one pointed the OP to this thread? Contracting in Belgium - a guide to tax and social security.

Read the later pages as Belgium tax rules have got tougher since the beginning of the thread.

Basically, if you are new to contracting do not contract abroad unless you know what you are doing. Many people who know what they are doing choose NOT to contract in Belgium.

And as for 'unexpected trouble leaving my full time job' - you'll be in far worse unexpected trouble if you don't understand the Belgian tax rules and what you'll be getting yourself into with this agency.

Read the above thread. I think that you have been told enough now to make your decision.

[JustMe]

Thank you very much all for all the replies.

I did a google search and spoke to one of the company regarding all this... they said that they can support me by creating a limited company for 6 months (my contact is for 6 months) and anything more than 6 months I will need to do my own taxation thing by setting a company there in Belgium because I will be treated as Belgian resident or something like that. (I think this is about 183 day rule)

They provided me a break down of how much I can earn as below:

....................................|Per Annum.....| Per Month....|Per Week
Gross Contract Value .......|€85,800.........|€7,150...........|€1,650
Dividents........................|€4290........... |€358..............|€83
Retainer.........................|€11000.......... .|€917..............|€212
Discretionary loan award...|€57640..........|€4803.............|€1108
Take Home.....................|€72930..........|€6078..............|€1403

And I also did a little research on the area where the project is based, I can easily manage to get my food and accommodation done within €1000 to €1200.
I wont be travelling too much....probably once or twice in a month so that should lower my cost further.

I really want to work on this contract only because this will add a great value to my CV. But at the same time I do not want to put myself into any unexpected trouble leaving my current full time job.

I would really appreciate your thoughts on this.
Thank you very much guys.

330 a day --> 20 Working days = 6600
deduct 30% employers cost = 4620 your gross income
50% tax and social = 2300 net per month

good luck
justme