Capital Gains Tax in Belgium 2026
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.
Parliament passed the tax on April 3, 2026, retroactive to January 1, 2026. The law was published in the Belgian Official Gazette on April 21, 2026. It applies to private individuals who don't trade professionally, and also to nonprofit organizations and foundations. It covers stocks, bonds, funds, ETFs, crypto assets, currencies and investment gold. Pension products and certain life insurance policies without an investment character are exempt. You can only offset losses against gains in the same year and within the same kind of asset.
An example: Pieter bought an ETF for €30,000, and at the end of 2025 it's worth €40,000. In 2026 Pieter sells it for €55,000. Only the increase since the start of the year is taxable, so €15,000. After the allowance, €5,000 remain, and he pays €500 on that. The allowance rises with inflation. If Pieter doesn't use it, it grows by up to €1,000 a year, to at most €15,000. A couple has €20,000 a year, up to €30,000 with the unused increases. People married under separation of property or in a legal cohabitation can't pool their two allowances, though.
The old levies continue alongside: 30 percent withholding tax on dividends and interest, and the stock exchange tax on every purchase and sale: 0.12 percent on bonds and most listed funds and ETFs, 0.35 percent on stocks, and 1.32 percent on accumulating shares of funds registered in Belgium. Caps of 1,300, 1,600 and 4,000 euros apply per transaction. The exact category depends on the fund's legal form and country of registration. Individual stocks aren't subject to the Reynders tax. Since June 1, 2026, Belgian banks and brokers generally withhold the new tax directly, just like a withholding tax.
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.
Do I have to declare the new capital gains tax myself?
Usually not. Since June 1, 2026, Belgian banks and brokers withhold the tax directly, similar to a withholding tax.
Sources and further reading
- Law on the taxation of capital gains on financial assets, passed by the Belgian parliament on 3 April 2026. Official explanation from the Belgian finance ministry (SPF Finances). View source ↗
- Wikifin, information portal of the Belgian financial regulator FSMA, stock exchange tax: rates and caps per product View source ↗
- LWB, news item of 22 April 2026: publication of the law in the Belgian Official Gazette on 21 April 2026 View source ↗
- Overviews from Belgian financial institutions and tax firms on the Meerwaardebelasting, as of 2026
Related
- Taxes by country, all countries at a glanceTaxes by country
- Withholding tax on foreign dividendsTaxes by country
- GermanyTaxes by country
- AustriaTaxes by country
- SwitzerlandTaxes by country
- FranceTaxes by country
- ItalyTaxes by country
- SpainTaxes by country
- NetherlandsTaxes by country