Starting from 1 January 2026 Belgium introduced a 10% tax on capital gains realised by individuals on financial assets (shares, bonds, ETF’s crypto, and certain insurance contracts) within normal private estate management. An annual exemption of €10,000 in net gains applies. Only gains made on or after 1 January 2026 are taxable, while earlier gains remain exempt. The final text still has to be approved by the Belgian Parliament (expected end of Q1).
Key Aspects of the 2026 Belgian Capital Gains Tax:
- Tax Rate: Generally 10%, plus local communal taxes.
- Exemption: The first €10,000 of net gains per year is tax-free.
- Carry Forward Exemption: If the annual €10,000 exemption is not fully used, you can carry forward up to EUR1,000 of that unused amount to the next year. This can be accumulated for up to 5 years, allowing a maximum potential tax-free gain of €15,000 in a single year.
- What Cannot Be Carried Forward: Capital losses cannot be carried forward to future years, although they can be used to offset gains within the same tax year.
- Taxable Assets: Listed and unlisted shares, bonds, ETF’s, investment funds, crypto-assets and insurance products.
- Non-Taxable Gains: Profits on assets acquired before 1 January 2026 are not taxed. The tax only applies to the value increase after this date.
- Special Cases:
- Speculation: Gains outside ‘normal management’ (e.g. rapid trading) are taxed at 33%.
- Significant Holdings: Sales of >20% shares are taxed at 1,25% – 10% (may be exempt up to €1,000,000).
- Internal Gains: Specific company share transactinos may face 33% tax.
- Calculation: Tax is calculated as the difference between the sale price and the value of the asset on 31 December 2025.
This is understanding of the new tax which is still to be approved by the Belgian Parliament.
