Since its announcement by Minister Jan Jambon, Belgium is preparing to introduce a 10% solidarity tax on capital gains realised outside the professional sphere. This reform marks a real turning point: for the first time, capital gains on shares, bonds, crypto assets and other financial instruments will be taxed from 1 January 2026.
1. Assets concerned and exemption thresholds
The following will be taxed:
• Shares (listed or unlisted).
• Bonds, derivatives, fund units and UCITS.
• Crypto assets and currencies, but an annual exemption of €10,000 is planned (indexable), or even up to €15,000 for small investors with no gains for five years.
2. Significant capital gains and progressive taxation
For participations ≥ 20%, the regime becomes even more favourable:
• Exemption of €1 million (every 5 years).
• Then progressive taxation ranging from 1.25% to 10% depending on the bracket (up to €10 million).
Similarly, a total exemption is provided for capital gains realised on assets held for more than 10 years.
3. Harmonisation with existing measures
This capital gains tax is in addition to the current regime:
• It replaces the 33% ‘miscellaneous income’ regime for speculative gains.
• It coexists with the Reynders tax (30%) on bond products, which is still in place, as well as capital gains from transactions deemed ‘abnormal’, which could continue to be taxed at 33%.
4. Exit tax and anti-abuse measures
The bill introduces an exit tax on unrealised capital gains when a taxpayer leaves Belgium for tax purposes or when an asset is sold to a non-resident. It also aims to combat abusive internal arrangements.
5. Calculation methods
The taxable capital gain is the positive difference between:
• the sale price
• the reference value as at 31/12/2025 (acquisition price or market value), whichever is lower.
Net capital losses may be offset, but only against gains in the same year.
6. Entry into force
• 1 January 2026, without retroactive effect: only capital gains realised thereafter will be taxed.
• Dividends and interest from pension savings (2nd and 3rd pillars) will remain exempt.
Our mission in the field of corporate taxation is to help you manage a reasonable tax burden that aligns with your income and the opportunities provided by tax legislation.
