Belgian Tax Reforms

Developing StoryLast updated APR 26
SUMMARY

Belgium's parliament approved a bill on April 12, 2026, to introduce a capital gains tax on financial assets and increase the banking tax and tax on securities accounts from 0.15% to 0.3%. As of April 12, 2026, the bank tax revenue has surpassed €1 billion and is projected to increase by an additional €150 million annually, with a new progressive tax targeting larger banks and a 100% non-deductibility of the bank tax. These measures, effective January 1, 2026, for the capital gains tax with a €10,000 annual exemption, are part of the 2026-2029 budget agreement aimed at stabilizing public finances after S&P Global Ratings downgraded Belgium's sovereign rating to 'AA-' from 'AA' on March 15, 2026. Febelfin has expressed concerns regarding these tax increases, which also include adjustments to VAT rates on various services and an increase in the insurance premium tax from 9.25% to 9.6%.

Timeline

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April 2026 — 3 developments

  1. Belgium's parliament has approved a bill to introduce a capital gains tax on financial assets.

    Belgium's parliament has approved a bill to introduce a capital gains tax on financial assets. The banking tax and tax on securities accounts will be raised from 0.15% to 0.3%, with a new progressive tax targeting larger banks and a 100% non-deductibility of the bank tax. The bank tax revenue has already surpassed €1 billion and is projected to increase by an additional €150 million annually.

  2. Febelfin has expressed concerns regarding Belgium's planned tax increases, including a hike in the banking tax and a new capital gains tax on financial assets.

    Febelfin has expressed concerns regarding Belgium's planned tax increases, including a hike in the banking tax and a new capital gains tax on financial assets. The government is also adjusting VAT rates on various services, such as sports, culture, leisure, hotel stays, and takeaway meals, with specific changes for non-alcoholic beverages.

  3. Belgium has implemented a new 10% capital gains tax on financial assets, effective January 1, 2026, with an annual exemption of €10,000.

    Belgium has implemented a new 10% capital gains tax on financial assets, effective January 1, 2026, with an annual exemption of €10,000. The non-deductibility of the bank tax has also risen to 100%. These measures are part of the 2026-2029 budget agreement aimed at stabilizing public finances.

March 2026 — 1 developments

  1. S&P Global Ratings has downgraded Belgium's sovereign rating to 'AA-' from 'AA' due to significant fiscal challenges, projecting government debt to reach 109% of GDP by 2029.

    S&P Global Ratings has downgraded Belgium's sovereign rating to 'AA-' from 'AA' due to significant fiscal challenges, projecting government debt to reach 109% of GDP by 2029. In response, the Belgian government has approved new tax measures, including an increase in the banking tax from 0.15% to 0.3% effective April 1, and an additional progressive tax for larger banks, aiming to save €9.2 billion over the mandate.

February 2026 — 2 developments

  1. The Belgian federal government has approved a draft program law to implement its budget agreement, w…

    The Belgian federal government has approved a draft program law to implement its budget agreement, which includes several tax measures expected to be passed by Parliament in March 2026. Key changes include an increase in the tax on securities accounts from 0.15% to 0.3% and an increase in the insurance premium tax from 9.25% to 9.6% for premiums due from April 1, 2026. The tax on boarding an aircraft will be uniformly set at €10 from January 1, 2027.

  2. Belgium's 2026 budget agreement includes a new bank tax and an increase in the securities account tax from 0.

    Belgium's 2026 budget agreement includes a new bank tax and an increase in the securities account tax from 0.15% to 0.30%, along with an insurance tax. The tax on short flights will rise from €5 to €10 in 2027, with further increases planned. Additionally, a €2 levy will be imposed on small parcels from non-EU countries, and anti-fraud measures include the establishment of a national financial prosecutor's office.

December 2025 — 1 developments

  1. The Belgian government has approved a new package of tax measures to stabilize public finances and reduce debt.

    The Belgian government has approved a new package of tax measures to stabilize public finances and reduce debt. These include an increase in the banking tax and the tax on securities accounts from 0.15% to 0.3%, effective April 1st. Additionally, insurance taxes will rise from 9.25% to 9.6%.

November 2025 — 2 developments

  1. The Belgian government has approved a budget framework for 2026-2029 that includes several new tax measures.

    The Belgian government has approved a budget framework for 2026-2029 that includes several new tax measures. Starting March 2026, VAT on sports, culture, leisure activities, hotel stays, campsites, and takeaway meals will increase from 6% to 12%. The tax on securities accounts will double from 0.15% to 0.3%, the premium tax on non-life insurance will rise from 9.25% to 9.6%, and a new bank tax has been introduced. These measures aim to stabilize public finances and reduce mounting debts.

  2. Belgium's parliament passed legislation on December 18, 2025, to increase the annual tax on banks, w…

    Belgium's parliament passed legislation on December 18, 2025, to increase the annual tax on banks, which is expected to generate an additional €150 million per year starting in 2026. Banking federation Febelfin has criticized this hike as unprecedented and disproportionate.

April 2023 — 1 developments

  1. Contributions to the Deposit Guarantee Scheme (DGS) were increased to 1.

    Contributions to the Deposit Guarantee Scheme (DGS) were increased to 1.8% of covered deposits.

December 2022 — 1 developments

  1. A decision was made to limit the tax deductibility of the bank tax to 20%, effectively making 80% of it non-deductible.

    A decision was made to limit the tax deductibility of the bank tax to 20%, effectively making 80% of it non-deductible.

July 2017 — 1 developments

  1. Belgium introduced an annual tax on securities accounts for portfolios of €500,000 or more, set at a rate of 0.

    Belgium introduced an annual tax on securities accounts for portfolios of €500,000 or more, set at a rate of 0.15%.