Belgium: Proposed capital gains tax on financial assets
It is expected that the tax will become effective January 1, 2026.
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April 30, 2025
The Minister of Finance released a proposal to introduce a tax on capital gains on financial assets in alignment with the Coalition Agreement 2025-2029 of the new federal government. It is expected that the tax will become effective January 1, 2026.
The new capital gains tax would apply to individuals and not for profit entities, but not to companies. The proposal distinguishes three categories:
- Internal capital gain: Transfer of shares and profit certificates to a buyer that is controlled by the seller alone or together with his family, which would be subject to a 33% tax
- Significant interest: Transfer of shares and profit certificates in cases of a participation of at least 20% at any time in the previous 10 years by the seller alone or together with his family, which would be subject to a 10% tax to the extent in excess of €10,000 (with a sliding tax rate scale applying to lesser amounts)
- Other transfers of financial assets, which would be subject to a 10% tax to the extent in excess of €10,000 (with transfers of lesser amounts being exempt)
The draft law also proposes to introduce an exit tax when the owner of financial assets transfers his residence or seat of fortune abroad, or when shares are transferred without consideration to nonresident taxpayers.
Read an April 2025 report prepared by the KPMG member firm in Belgium