Belgium's new capital gains tax took effect on 1 January 2026, targeting profits from stocks, bonds, crypto-assets, and other financial instruments. With a standard 10% rate and annual exemptions up to EUR 10,000 per person, the legislation introduces a fundamental change to how Belgian residents are taxed on investment gains—though major shareholders and family transfers face significantly different rules. 

RF Report

The Belgian Parliament passed legislation on 3 April 2026 implementing a capital gains tax on financial assets, applying to all gains realised from 1 January 2026 onwards.

The tax applies to Belgian residents subject to personal income tax, as well as non-profit organisations and foundations. Unincorporated associations will see taxation applied directly to their individual members. Notably, non-residents and companies under corporate tax are exempt from this new measure.

Covered assets and tax rates

A wide range of financial instruments fall under this tax, including shares, bonds, government securities, ETFs, investment funds, crypto-assets, derivative products, and investment gold. Insurance-linked savings and investment policies (branches 21, 23, 26, and 44) are also included, with Belgian insurers responsible for collection.

The standard tax rate is 10% on realised capital gains. For assets purchased before 1 January 2026, the gain is calculated based on the difference between the sale price and the asset’s value on 31 December 2025. For assets acquired after this date, the gain reflects the difference between purchase and sale prices.

Special rates and exemptions

The legislation establishes three distinct categories:

  • Internal transfers (shares sold to family-controlled companies) are taxed at 33%.
  • Significant shareholdings (individual ownership of at least 20%) benefit from progressive rates with the first EUR 1,000,000 exempt once every five years. Beyond this threshold, rates range from 1.25% to 10% depending on the gain amount. Transfers outside the European Economic Area face a 16.5% rate.
  • Regular investors enjoy an annual exemption of EUR 10,000, indexed yearly. Unused exemptions can accumulate up to EUR 5,000 over five years, bringing the maximum exemption to EUR 15,000 per person. Married couples with joint assets can combine exemptions for a total of EUR 30,000.

Taxpayers must report capital gains in their annual income tax returns, though withholding mechanisms are being phased in throughout 2026 following the legislation’s delayed approval.