Belgium
Since 2026, a 10 percent capital gains tax applies to realized gains above an allowance of €10,000 per person per year. Stock-exchange tax and dividend withholding tax remain in place alongside it.
Belgium was long one of the few countries with no tax on capital gains for retail investors. That changed in 2026.
Since January 1, 2026, a 10 percent tax applies to realized gains on stocks, ETFs, bonds, and cryptocurrencies. The allowance is €10,000 per person per year. A couple therefore gets €20,000. Only the amount above that gets taxed.
Important for existing holdings: only value gains from January 1, 2026 onward are affected. The value as of December 31, 2025 counts as the new cost basis. Whatever gain you had before that stays tax-free.
The existing taxes remain alongside this: stock-exchange tax on every purchase and sale, plus 30 percent withholding tax on dividends and interest. Both apply independently of the new allowance.
The Belgian parliament passed a capital gains tax on financial assets on April 3, 2026, applying retroactively from January 1, 2026, covering private individuals outside a professional context as well as nonprofit organizations and foundations; it taxes gains on stocks, bonds, investment funds, ETFs, crypto assets, currencies, and investment gold, while pension products and certain life insurance policies with no investment character are exempt. Losses can only be offset in the same year and within the same asset category.
The allowance is €10,000 per person per year and is indexed; if unused over several years, it can rise by up to €1,000 annually to a maximum of €15,000. A couple therefore reaches €20,000 annually, or up to €30,000 after five years of unused increase; those married under a separation-of-property regime or in a legal cohabitation can't combine their allowances.
Alongside the new tax, the 30 percent withholding tax on dividends and interest and the stock-exchange tax of 0.12 to 1.32 percent per transaction on every purchase and sale remain in place; no Reynders tax applies to individual stocks. For transactions from June 1, 2026 onward, the capital gains tax is generally withheld at source by Belgium-based financial intermediaries.
Summary
- 10 percent on realized gains above €10,000 per person per year.
- Only value gains from January 1, 2026 onward are affected.
- Stock-exchange tax and 30 percent dividend withholding tax remain in place on top.
Did you get it?
How large is the annual allowance?
€10,000 per person, up to €15,000 if unused and carried forward over several years.
What applies to gains from before 2026?
They stay tax-free. The value as of December 31, 2025 counts as the cost basis.
Which taxes remain in place alongside it?
The stock-exchange tax on every transaction and 30 percent withholding tax on dividends and interest.
Sources and further reading
- Law on the taxation of capital gains on financial assets, passed by the Belgian parliament on 3 April 2026
- Overviews from Belgian financial institutions and tax firms on the Meerwaardebelasting, as of 2026
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