Transactions

The capital gains tax on shares

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Insights into IFRS 13
New Government, New Measures – The Capital Gains Tax on Shares
Contents

Coalition Agreement

In the area of taxation, the introduction of a personal capital gains tax on shares is a measure with far-reaching implications. The scope of this new tax also includes shares in privately held companies.

New Measures

The capital gains tax, also referred to as the “solidarity contribution”, is a new levy of 10% on realised gains from financial assets, including crypto-assets. According to the coalition agreement, only capital gains realised after the entry into force of the new legislation will be subject to taxation. Historical gains will therefore be exempt, although the method for determining these gains remains unclear at this stage.

A yearly exemption of €10,000 is expected to apply for “small” shareholders or investors.
For shareholders with a substantial interest (at least 20% participation), a progressive rate structure will apply:

  • Capital gains up to €1,000,000: exempt
  • Capital gains between €1,000,000 and €2,500,000: taxed at 1.25%
  • Capital gains between €2,500,000 and €5,000,000: taxed at 2.5%
  • Capital gains between €5,000,000 and €10,000,000: taxed at 5.0%
  • Capital gains above €10,000,000: maximum rate of 10.0%

These new measures are part of the broader tax reform outlined in the coalition agreement and still require further specification and implementation.

Understanding Your Built-Up Wealth

The introduction of the capital gains tax represents a significant shift for private shareholders in Belgium. Although the practical implementation of the new rules is still pending, gaining insight into the current value of your business is highly advisable.

Understanding valuation mechanisms and the underlying variables will be useful to avoid any unpleasant surprises. Obtaining a clear picture of the wealth or “patrimony” you have built up as an entrepreneur is undoubtedly a key reference point.

Advice and Support

At Grant Thornton Belgium, we closely monitor regulatory developments and are ready to advise and support our clients.
We are available to assist you with all valuation-related questions and associated tax matters.
Be sure to check out our special feature on the 2025 coalition agreement.