The 2025 government agreement includes a series of tax reforms, including the introduction of a capital gains tax.
The draft bill was approved in a first reading by the Finance Committee on 27 January 2026, which now provides a stable legal framework. Most of the known information can therefore be considered final.
Important points to remember
Capital gains made from 1 January 2026 will be taxed. Banks will only be able to withhold the tax starting 1 June 2026. There will therefore be a transition period between 1 January and 31 May 2026. You can find all detailed information on this page.
"}},{"componentType":"highlight","richBody":{"value":"Additional information and contact
The introduction of the capital gains tax represents an important change for investors. At ING, we are committed to keeping you clearly and transparently informed.
Your banker is available to answer your questions and support you in making well-considered decisions, tailored to your personal financial situation and investment objectives.
It is a 10% tax that applies when a capital gain is realized upon the transfer of financial assets for valuable consideration. Financial assets include shares, bonds, investment funds, derivative instruments (ex. warrants and options), savings insurance policies and insurance policies linked to investment funds, crypto-assets and currencies.
"}},{"title":"From when is the capital gains tax applicable?","richBody":{"value":"The draft law was approved in a first reading by the Finance Committee of the Chamber on 27 January 2026. The law will apply retroactively to capital gains realised as from 1 January 2026. The transition period for the method of taxation will run from 1 January to 1 June 2026.
"}},{"title":"For whom does the capital gains tax apply?","richBody":{"value":"The new capital gains tax applies to natural persons who are subject to personal income tax in Belgium.
Certain ‘private’ legal entities are also subject to the tax.
Natural persons who are taxed in Belgium as non-residents fall outside the scope of this tax.
"}},{"title":"Which financial assets are subject to the capital gains tax?","richBody":{"value":"The tax applies to financial assets, divided into four categories:
Financial assets that are not subject to the capital gains tax:
For financial assets acquired from January 1, 2026: the taxable amount of the capital gain is equal to the positive difference between the sale price and the purchase price.
For financial assets acquired before January 1, 2026: the taxable amount of the capital gain is equal to the positive difference between the sale price and the value of the assets as of December 31, 2025. Historical capital gains will therefore not be taxed.
For financial assets acquired before January 1, 2026 and sold for consideration before January 1, 2031, the legislator has even provided the option for the taxpayer to declare, through their tax return, the actual acquisition value of the assets (i.e., their purchase price, regardless of when the purchase occurred) instead of their value as of December 31, 2025. This is obviously advantageous when the actual acquisition value is higher than the value on December 31, 2025.
The calculation of the taxable capital gain should not take into account fees and taxes.
"}},{"title":"Can losses be deducted?","richBody":{"value":"You will be able to deduct realized capital losses from the capital gains you made in the same year.
Note: losses accumulated before December 31, 2025, are not eligible under this deduction regime. In other words, the amount of deductible losses will always be calculated based on the negative difference between the sale price of the assets and their value as of December 31, 2025.
To benefit from the deduction, you will need to report both the losses and gains yourself in your tax return.
"}},{"title":"How are gains taxed and what exemptions apply?","richBody":{"value":"Each taxpayer receives an annual exemption of 10,000 euros on realized gains. You pay no tax on the first 10,000 euros of profit.
Concretely: you will not pay tax on the first 10,000 euros of capital gains. This exemption amount will be indexed annually and, if not fully used, may be partially carried forward: up to 1,000 euros per year, for a maximum of five years. This means you could accumulate a total exemption of 15,000 euros.
For married couples with joint assets, this can go up to 30,000 euros.
You must claim this exemption in your tax return.
"}},{"title":"What about staggered purchases?","richBody":{"value":"If you invest monthly in a fund or ETF, or make purchases at different times, the FIFO (First In, First Out) will apply for the purpose of calculating the taxable base for the capital gains tax.
For purchases made before 31 December 2025, the taxpayer may declare an average purchase price in their tax return if this average purchase price is higher than the value of the securities on 31 December 2025.
"}},{"title":"How do you pay the capital gains tax?","richBody":{"value":"The law prescribes two methods for collecting capital gains tax.
If you are a natural person, you can choose:
On the dedicated webpage, We clearly explain the two options, their impact, what we expect from you, and the steps to follow.
"}},{"title":"What happens during the transitional period*?","richBody":{"value":"As long as the law has not been approved, ING cannot automatically withhold the capital gains tax or report it to the tax authorities.
However, capital gains realised from 1 January 2026 onwards remain taxable, and the value on 31.12.2025 remains the starting point for the calculation of the tax.
In principle, you must therefore declare any capital gains realised during the transitional period in your tax return.
However, it is foreseen that, once the law has been approved, ING can - with your consent - withhold an amount corresponding to the tax due and treat it as a withholding tax on the capital gains realised from 1 January 2026. In that case, you will not need to declare the capital gains yourself.
If you choose the opt out, you must declare all capital gains of 2026 yourself - including those from the transitional period - in your tax return.
We will update our information as soon as more clarity is available.
* Transitional period: from 1 January 2026 until 31 May 2026.
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