The wealth tax deadline is approaching: what you need to know
A reminder: what is the wealth tax?
The wealth tax is an annual tax charged on the total movable and fixed assets of international and domestic non-profit organisations (INPOs/NPOs) and private foundations. The tax drew attention in late 2023 and early 2024 following a number of major changes that came into effect on 1 January 2024.
The key changes and characteristics in brief
Taxable base
What has changed?
- Allowance increased: The old €25,000 allowance has been replaced by a tax-free threshold of €50,000.
- Foreign real estate: from now on, foreign real estate will also be included in the taxable base.
In principle, therefore, all Belgian and foreign movable and fixed assets of the INPO, NPO or foundation are part of the taxable base. An exception to this rule is the organisation’s or foundation’s operating resources, such as current accounts. The assets are included in the taxable base at market value (rather than book value).
Progressive rates
The fixed rate of 0.17% has been replaced by progressive rates:
| Taxable base | Rate |
| €0 - €50.000 | 0% |
| €50.000,01 – €250.000 | 0,15% |
| €250.000,01 – €500.000 | 0,30% |
| Vanaf €500.000,01 - … | 0,45% |
In other words, if your NPO or private foundation has assets of more than €500,000, this will quickly result in the rate that applied up to 31 December 2023 being more than doubled.
Exception for specific sectors
Certain social sectors (such as healthcare, education, sport and animal shelters) are entitled to a reduction of their taxable base to 37.7%. In practice, this means that the maximum tax burden for these sectors is 0.17%.
Practical information: what you need to do
Deadline for submitting wealth tax return
The return must be submitted by 31 March 2025. Note: the tax due must also have been paid by then!
Electronic submission on MyMinFin
It’s now also easy to submit the tax return electronically on MyMinFin. It is therefore no longer a requirement to send the return form by post.
Steps for correct submission:
- Draw up a list of movable and fixed assets subject to the tax. Determine the market value of each of these goods on 1 January 2025.
- Look into whether any exceptions may apply (e.g. reduction of taxable base to 37.7%).
- Submit your tax return on MyMinFin and pay the tax due by 31 March 2025.
Conclusion: act now
With the deadline of 31 March 2025 fast approaching, this is the right moment to start preparing for your wealth tax return. Make sure your return is submitted on time and correctly, and use the electronic option via MyMinFin to save time.
If you have any questions or need support, our experts are ready to help you with any step in the process.
Read more
> Understanding the wealth tax: changes since 2024
> How does the electronic declaration via MyMinFin work?
