Belgian Tax Reforms
Belgium is implementing significant tax reforms, including increased tax rates on credit institutions and insurance, and a new capital gains tax on financial assets, with many changes effective from January 1, 2026, and others phased in through 2027. As of July 30, 2026, the European Central Bank has issued an opinion on a draft Belgian law proposing increased tax rates on credit institutions from the 2027 tax year, and insurance taxes are set to increase from 9.25% to 9.6% effective April 1, 2026. The parliament approved a bill to introduce a capital gains tax on financial assets, with the banking tax and tax on securities accounts raised to 0.3%, and a new progressive tax targeting larger banks. Distributions from liquidation reserves from the 2026 tax year onwards will be taxed at 9.8%, leading to an overall 18% tax burden, and new regulations for cash registers (GKS 2.0) are mandatory for hospitality businesses from July 1, 2026. These measures aim to reduce Belgium's public finance deficit and are projected to increase bank tax revenue by an additional €150 million annually.
Timeline
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July 2026 — 6 developments
Belgium Proposes Increased Tax Rates on Credit Institutions and Insurance
The European Central Bank issued an opinion on March 30, 2026, regarding a draft Belgian law proposing to increase tax rates on credit institutions starting from the 2027 tax year. Additionally, insurance taxes are set to increase from 9.25% to 9.6% effective April 1, 2026. These proposed changes aim to help reduce Belgium's public finance deficit.
Belgium Implements New Tax Rates on Liquidation Reserves and Insurance
Distributions from liquidation reserves established from the 2026 tax year onwards will be taxed at 9.8%, leading to an overall 18% tax burden. The insurance tax rate for certain non-life insurance products has risen from 9.25% to 9.60%, impacting employer-sponsored hospitalization and outpatient healthcare insurance. A new capital gains tax on financial assets is in effect from January 1, 2026, targeting gains realized from the normal management of private wealth.
Belgium Transposes CRD VI, Mandating New Branch Rules for Non-EEA Banks
Belgium has transposed CRD VI into law, effective January 11, 2027, requiring non-EEA banking institutions to establish an authorized branch for core banking services. This regulatory update complements recent tax changes, including an increased bank tax from assessment year 2027 and a new capital gains tax on financial assets for individuals from January 1, 2026.
Belgium Implements New Tax Measures: Cash Register Rules, Securities Tax Doubled
New regulations for cash registers (GKS 2.0) are mandatory for Belgian hospitality businesses from July 1, 2026. The tax on securities accounts has doubled to 0.3%, and insurance taxes increased to 9.6% from April 1, 2026. Capital gains on financial assets exceeding €10,000 are taxable at 10% since January 1, 2026.
Belgium Increases Dividend Tax to 18% and Doubles Securities Account Tax
Belgium has increased the tax rate on dividends from liquidation reserves and under the VVPRbis scheme from 15% to 18%, effective July 1, 2026. Additionally, the annual tax on securities accounts has been doubled from 0.15% to 0.3%. These changes are part of broader budget measures affecting the financial sector.
Belgium Introduces New Withholding Obligations for Financial Product Gains
New withholding obligations for gains on certain financial products will apply from June 1, 2026, shifting compliance burdens to intermediaries. This is part of a new capital gains tax on financial assets effective from January 1, 2026, affecting private investors and family business owners.
May 2026 — 1 developments
Belgium Adopts Program Law Adjusting Bank Tax Rates for 2027
Belgium adopted a program law in May 2026 that adjusts the annual tax on credit institutions, increasing applicable rates from 0.15205% and 0.20204% to 0.19286% and 0.25626% respectively. These changes are effective from assessment year 2027 and are part of broader budget measures to reduce the public finance deficit.
April 2026 — 3 developments
Belgium's Parliament Approves 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.
Febelfin expresses concerns over Belgium's planned tax increases
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.
Belgium Implements 10% Capital Gains Tax on Financial Assets Effective 2026
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
S&P Downgrades Belgium's Rating Amid Fiscal Woes; Government Approves New Tax Measures
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
Belgian Government Approves Budget Law with Increased Securities, Insurance, and Aircraft Taxes
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.
Belgium introduces new bank tax, increases securities and flight taxes in 2026 budget
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
Belgian government approves tax hikes on banking, securities, and insurance to stabilize finances
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
Belgian Government Approves Budget Framework with New Tax Hikes for 2026-2029
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.
Belgian Parliament approves bank tax hike, aiming for €150 million annually starting 2026
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
Deposit Guarantee Scheme Contributions Increased to 1.8% of Covered Deposits
Contributions to the Deposit Guarantee Scheme (DGS) were increased to 1.8% of covered deposits.
December 2022 — 1 developments
Decision Limits Bank Tax Deductibility to 20%
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
Belgium introduces 0.15% annual tax on securities accounts over €500,000
Belgium introduced an annual tax on securities accounts for portfolios of €500,000 or more, set at a rate of 0.15%.