Belgian Banks Warn of Potential Unrest Upon Implementation of Capital Gains Tax as of January 1, 2026

Belgian couches are concerned about potential unrest surrounding the introduction of a capital gains tax in Belgium. The De Wever government wants to introduce this tax as early as January 1, 2026, while the law is expected to be approved by parliament later.

Capital gains tax means that Belgians pay 10% tax on financial profits, with the first €10.000 per year exempt. The calculation is based on the value of financial assets on December 31, 2025, unless the historical purchase price was higher.

Belgian citizens have two options: include the profit in their tax return themselves and then pay the tax, or have the tax withheld directly by their financial institution.

Two phases of implementation

However, due to the short timeframe for the banking sector to get everything technically in order, chaos is expected. In the first phase, the customer must therefore file the tax return themselves, unless they explicitly request that the sofa This will change after the legislation is published. The bank will then withhold the withholding tax, unless the customer explicitly requests otherwise. The bank must, however, report this to the government.

According to Karel Baert, CEO of Febelfin, the government is asking the banking sector to implement a highly complex tax measure in record time. He argues that it is irresponsible to fundamentally change its application three weeks before the legislation takes effect without consulting the sector. Baert warns that the government's decision to stick with the symbolic date of January 1st will lead to excessive complexity for clients, unprecedented effort for the banks, and considerable legal uncertainty for all taxpayers.

Complexities and ambiguities

Febelfin anticipates that many complex issues will arise. For example, what choice can a customer make if they switch banks in February, but the law isn't published until March or April, and they made a profit before leaving? Should or can this customer contact their new or old bank if they want to use the opt-in option?

Furthermore, there are questions about what happens if no opt-in is made for this spontaneous payment, or in the event of a disagreement between different account holders after inheriting a portfolio. This could lead to discrimination between different taxpayers, jeopardizing the possibility of anonymity for one or more of the heirs if an heir does not opt-in.

Banks are therefore advocating for a postponement of the implementation of the capital gains tax until after the law has been published.