The ‘War for Talent’ in Belgium continues at full speed. Companies are struggling to attract suitable candidates, forcing business leaders to look at creative solutions for attracting and retaining talent. In addition to wellbeing programmes and flexible working hours, forward-thinking leaders are exploring innovative approaches, including incorporating crypto and digital assets as part of the remuneration package.
Although some employees in Belgium are happy to receive part of their salary in cryptocurrency, cryptos are not yet legal tender in Belgium and thus cannot be paid as salary. The wage protection act of 12 April 1965 stipulates that wages must be paid in the only legal tender in Belgium for the time being: the euro.
Countries such as the USA, Singapore and the UK are pioneers in cryptocurrencies. Both the UK and Germany have already embraced the reality of cryptos, by issuing guidelines on the taxation of cryptos for individuals. In the Netherlands too, cryptos are increasingly being accepted as a benefit in kind within the remuneration package.
Our specialists in Compensation & Benefits at PwC have developed an analysis based on a hypothesis that Belgian labour law would allow employers to award (a portion of) variable remuneration in the form of cryptos.
Want to find out more?
Contact Bart Van den Bussche or Aurore Zadeling for an initial exploratory discussion.