Belgium: New capital gains tax approved by Parliament
Applicable retroactively to gains realized from January 1, 2026
The Belgian Parliament on April 3, 2026, approved draft legislation that formally introduces a capital gains tax on financial assets, applicable retroactively to gains realized from January 1, 2026.
The new tax will apply to gains from the transfer of financial assets within the normal management of private assets, with specific exclusions for historical gains, speculative transactions, or gains in a professional context.
The legislation distinguishes three categories of capital gains for tax rate purposes:
| Category | Description | Tax rate |
|---|---|---|
Internal transfers | Transfers of shares to a company controlled by the seller and their family | 33% |
Significant shareholdings | The seller individually holds at least 20% of the shares | 0-10% (16.5% for transfers outside the EEA), with the first €1 million over a five-year period being exempt. |
Other financial assets | General category for other financial assets | 10%, with the first €10,000 exempt annually and a limited carry-forward of up to €5,000 over five years. |
Further clarifications include:
- The capital gains must be reported in the annual income tax return.
- Tax withholding by intermediaries will become mandatory beginning June 1, 2026, though taxpayers can opt out.
- The Minister of Finance has clarified that while investment gold is within the scope, golden jewelry is not.
Further guidance from the tax authorities is expected to be published shortly.
Read an April 2026 report prepared by the KPMG member firm in Belgium