Will Izola Bank deduct withholding tax on interest income similar to the Belgian banks for my Izola Pro account?

As Izola Bank is a non-Belgian bank, without any establishment in Belgium, it is not possible to deduct Belgian withholding tax on interest income for Belgian customers. Therefore Izola Bank shall pay all credit interest gross (i.e. without deducting Belgian withholding tax) to the customer. There is also no Maltese withholding tax applicable on interest income earned by Belgian customers. If no other Belgian financial intermediary deducts the Belgian withholding tax, it is the customers' own responsibility to declare this income in their annual tax return to the Belgian authorities. However Izola Bank customers can view and print out a Quarterly Position Report which shall include all credit interest earned and any debit interest incurred in order that the figure to be included in the tax return will already be calculated. Corporate customers with a financial year different from the calendar year may request such a statement from Izola Bank as and when needed, subject to prior notice of at least one calendar month. By virtue of the EU Savings Directive, Izola Bank will report on an annual basis the details of the customer and the amount of interest earned on Belgian sole trader (not corporate) deposits to the Maltese tax authorities, who in turn will report this data to the Belgian tax authorities. Please note that this section on the EU Savings Directive only applies to sole trader accounts. There is no reporting to the Belgian tax authorities on credit interest earned on corporate deposits under the EU Savings Directive. There is no difference in treatment of credit interest between Izola Bank and Belgian banks for corporate deposits. It should also be pointed out that for sole traders and companies any withholding tax levied in Belgium on interest earned in Belgium is only an advance payment and not a final tax (which is the case for private individuals) and so the full professional income will have to be declared anyway on the tax return and be subject to tax accordingly, and any withholding tax can normally be credited against the final tax due, while any excess is refundable.