Taxation of capital gains on financial assets
The draft reform of the Income Tax Code (CIR92) introduces a new tax regime applicable from January 1, 2026, to capital gains realized outside the professional sphere but within the framework of normal management operations on financial assets (financial instruments, crypto-assets, insurance contracts, and currencies).
This regime will apply to individuals and legal entities (except entities authorized to receive tax-deductible donations), but not to companies. It will replace the miscellaneous income regime for these assets, with exemption for capital gains accrued before 2026.
The bill provides for an exemption on historical capital gains: if the assets were acquired before January 1, 2026, the draft bill provides that the acquisition value is equal to the value as of December 31, 2025, unless the acquisition value is higher (until December 31, 2030).
An exit tax is planned to prevent tax evasion (payment is deferred in the event of a transfer within the EEA). A deferral of payment may also be granted in the event of a transfer of residence outside the EEA, provided that sufficient guarantee of payment is provided. The deferral of payment ends in the event of a transfer of assets. The payment obligation ends in the event of re-immigration to Belgium or in any case after 24 months.
The taxable base corresponds to the net capital gain (sale price – acquisition value), with the possibility of offsetting certain capital losses. The general rate is 10%, after exemption of an initial annual tranche of €10,000. A specific regime applies to “significant shareholdings” (at least 20% of the rights), with an allowance of €1 million and a progressive rate. It should be noted that internal capital gains remain taxable at a rate of 33%.
In principle, the tax is collected by a Belgian intermediary (e.g., a bank). Without an intermediary or in the case of specific regimes (such as internal capital gains or substantial shareholdings), you will need to file a personal income tax return.
