Belgian Securities Tax 0.15% → 0.30%: When and for Whom?

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Last updated: 18 May 2026

On this page

  1. What is the annual tax on securities accounts (TASA) and who pays it?
  2. What changes in 2026?
  3. From when does the new 0.30% rate apply?
  4. How is the average value measured? The four reference dates
  5. Anti-abuse provisions: what no longer works?
  6. NBB CAP: the tax authority gains visibility from 1 December 2026
  7. Examples: €900,000, €1.2 million, €5 million
  8. Practical checklist for those at or near the threshold
  9. Sources & further reading

The federal budget agreement of 24 November 2025 doubles the annual tax on securities accounts (TASA) — commonly known in Belgian financial practice as the JTER — from 0.15% to 0.30%. The new rate applies to the average value above €1,000,000 per account. The measure is set out in art. 6 of the Programme Law adopted by the plenary of the Chamber of Representatives on 28 May 2026 (Doc 56 1378/037, source in French) and signed + published in the Belgian Official Gazette (BS) on 1 June 2026. Art. 6 amends art. 201/6, first paragraph WDRT by replacing the figure “0.15” with “0.3”. (Sources retrieved 2026-06-30.) (Vote scheduled for 20 May 2026 — at time of writing (17 May 2026) not yet confirmed in lachambre.be data; Audit-3 re-verifies the definitive Belgian Official Gazette publication date before publication.)


The government estimated revenue at an expected €400 to €460 million per year (La Libre, 24/11/2025 — source in French, behind paywall; multiple practitioner sources cite €400 million; Audit-3 re-verifies via explanatory memorandum Doc 56 1378/001) (retrieved 17 May 2026). The legislator ties the increase to stricter anti-abuse provisions and extended access for the tax authority to the CAP (Central Point of Contact at the National Bank) (retrieved 17 May 2026), including crypto accounts and foreign securities accounts.

For those holding a securities account with an average value at or above €1,000,000 — whether at a Belgian bank or at a foreign broker such as Saxo, DEGIRO or Interactive Brokers — something concrete is changing. This page explains the rules, when they take effect, and the calculation mechanisms you need to know to avoid surprises on your account statement.

What is the annual tax on securities accounts (TASA) and who pays it?

Note: Wikifin still shows the old rate of 0.15%. FPS Finance has updated its page: 0.15% for reference periods ending before 1 June 2026, 0.30% for reference periods ending from 1 June 2026 (retrieved 2026-06-30).

The annual tax on securities accounts was introduced by the Law of 17 February 2021 (Belgian Official Gazette — Dutch text, BS 25 February 2021, retrieved 17 May 2026) and entered into force on 26 February 2021.

The tax is set out in the Code of various duties and taxes (WDRT), Book II, Title X, Articles 201/3 through 201/9/5.

In practice the tax works as follows:

  • You pay 0.15% (old rate) on the average value of all financial instruments in a single securities account, if that average value over the reference period exceeds €1,000,000.
  • The tax applies per account, not per person or per household. Two accounts of €600,000 fall below the threshold; one account of €1,200,000 exceeds it.
  • The €1,000,000 threshold is a hard threshold: if the average value is €999,999, you owe nothing; if it is €1,000,001, you are liable on the full average value.
  • To avoid large threshold shocks, the law caps the tax at 10% of the difference between the average value and the threshold. At the new rate of 0.30%, this cap runs up to an average value of approximately €1,030,927.84 (= 100,000 / 0.097); above that amount the standard 0.30% rate applies. (At the previous 0.15% rate this break-even was €1,015,228.42 — a figure still shown on Wikifin at the time of writing as the page has not yet been updated; retrieved 2026-06-30.)

Who pays in practice?

  • With a Belgian intermediary (KBC, Belfius, Bolero, BNP Paribas Fortis, ING, Keytrade, Nagelmackers, etc.) the bank or broker automatically withholds the tax and remits it to FPS Finance. You do not need to do anything — except recognise the amount on your account statement around December of the following calendar year.
  • With a foreign broker without a Belgian representative (for example Interactive Brokers via its Irish entity, or an account at a Luxembourg private bank without a Belgian paying agent), you must yourself file a return no later than 15 July of the year following the end of the reference period, and pay the tax no later than 31 August of that same year, via MyMinfin (guidelines on the FPS Finance website) (source in Dutch, retrieved 17 May 2026).

Practical takeaway: check who your intermediary is. If the provider’s name ends with a foreign legal form (Ltd, GmbH, Limited, B.V., Inc.) or if the provider has no Belgian establishment, there is an increased likelihood that you are required to file a return.

What changes in 2026?

Three things change simultaneously:

  1. The rate doubles from 0.15% to 0.30%. The €1,000,000 threshold remains; only the percentage increases. For an account of exactly €2,000,000, the tax rises from €3,000 to €6,000 per year.


  1. The anti-abuse provisions of Article 201/4 WDRT become more strictly enforced in practice through expanded data exchange. The statutory rules (splits after 30 October 2020 = irrebuttable presumption of abuse) have existed since 2021, but the explanatory memorandum to the Law of 17 February 2021 (source in Dutch, retrieved 17 May 2026) and the Tiberghien analyses show that enforcement has so far been limited. With CAP access from 1 December 2026 (Law of miscellaneous provisions of 18 December 2025, BS 30 December 2025), detection becomes much easier.

  1. The tax authority gains access to the NBB CAP from 1 December 2026 for securities tax applications (Law of miscellaneous provisions of 18 December 2025, BS 30 December 2025), including crypto accounts and foreign securities accounts, according to the most recent explanatory note from the NBB of April 2026 (source in Dutch, retrieved 17 May 2026). The first reporting cycle covers balances at 31 December 2025 and 30 June 2026.

The rate increase and the expansion of the CAP network go hand in hand: the intention is both to raise the rate and to close the escape routes.

From when does the new 0.30% rate apply?

Under art. 6 and the final provision art. 9 of the Programme Law adopted by the plenary on 28 May 2026 (Doc 56 1378/037) (source in French) and signed + published in the Belgian Official Gazette on 1 June 2026, the increase takes effect for every reference period ending from 1 June 2026 (closing-date logic, no pro rata). FPS Finance confirms on the annual securities accounts tax page: “0.30% for securities accounts whose reference period ends from 1 June 2026” (retrieved 2026-06-30).

In practice, this means:

  • The new rate of 0.30% applies from the first reference period that ends after publication in the BS.
  • The reference period always runs from 1 October to 30 September of the following calendar year (Art. 201/3 WDRT et seq.).
  • Concretely: the current reference period 1 October 2025 → 30 September 2026 will therefore be fully taxed at 0.30%. Withholding by your Belgian intermediary will occur around December 2026.
  • No pro rata. The legislator chose a “rate at closing date” logic: the rate applies to the entire period regardless of when it started.

Practical takeaway: if you are currently above the threshold, you can assume that the next withholding (around December 2026 or 2027 depending on the publication date) will be calculated at 0.30% — no longer at 0.15%.

How is the average value measured? The four reference dates

The average value is not measured daily. The tax authority looks at the value on four reference dates within the reference period (Article 201/3 WDRT):

  • 31 December
  • 31 March
  • 30 June
  • 30 September

The sum of those four values is divided by four. That is the average value on which the tax is calculated.

What is included on those reference dates? All financial instruments in the account: shares, bonds, listed funds (ETFs), regular investment funds, tracker certificates, and certain derivatives. Cash positions in the linked cash account do not count — only the contents of the securities account itself.

What falls outside the tax?

  • Pension savings funds (third pillar) — excluded under Art. 201/3, 5° WDRT (source in Dutch, retrieved 17 May 2026).
  • Second pillar (group insurance, IPT, VAPZ) — excluded on the same basis.
  • Branch 21 and Branch 23 life insurance — only if structured as an insurance contract and not as a securities account. In Branch 23 contracts, the insurance institution is the taxable person, not the individual policyholder — the policyholder bears the tax indirectly through costs.
  • Registered shares in a company register (not held in a securities account) — excluded, but the anti-abuse provision of Article 201/4 specifically targets the conversion of account-held securities into registered shares as an avoidance technique (see next section).

Practical takeaway: for those fluctuating around the threshold, timing matters. A sale on 28 September or a deposit on 5 October can shift a reference date.

Anti-abuse provisions: what no longer works?

Since its introduction in 2021, Article 201/4 WDRT provides a two-pronged set of anti-abuse provisions — drawn from the explanatory memorandum to the Law of 17 February 2021 (Belgian Official Gazette — Dutch text, retrieved 17 May 2026) and elaborated in the Tiberghien analysis on splitting and reopening (source in Dutch, retrieved 17 May 2026):

Last paragraph of Art. 201/4 — Two irrebuttable presumptions of abuse. The law establishes two specific cases that are always treated as abuse if they occurred after 30 October 2020:

  1. Splitting a single securities account into multiple accounts with the same intermediary, resulting in no single account exceeding €1,000,000.
  2. Converting financial instruments held in the securities account into registered shares (company register), reducing the account below the threshold on reference dates.

§1 — General anti-abuse provision (rebuttable presumption). Alongside these two irrebuttable cases, Article 201/4 §1 provides a general anti-abuse rule: transactions where tax avoidance is the principal objective may be disregarded by the tax authority. The taxpayer may provide evidence to the contrary. This covers, among other things, the transfer of securities to a foreign securities account outside the sight of a Belgian intermediary. This is a rebuttable presumption — the taxpayer can put forward a legitimate non-tax reason (Aternio analysis (source in Dutch), retrieved 17 May 2026).

Simply put: splitting and converting to registered shares — the tax authority can fully disregard those. Transferring abroad — the authority can also challenge that, but then you have the opportunity to defend yourself.

What is added from 2026 onwards — not through new articles but through enforcement:

  • CAP expansion (1 December 2026): the tax authority will automatically see which Belgians have a foreign securities or crypto account, and at which institution, according to the NBB explanatory note of April 2026 (source in Dutch, retrieved 17 May 2026).
  • Obligation to declare foreign securities accounts in the personal income tax return (Box XIII) remains in place; combined with CAP data, this allows cross-checking.

Practical takeaway: all “splitting schemes” that were popular in 2020 are already legally invalid (irrebuttable presumption). From 2026, they will also be detected much more quickly in practice by the tax authority.

NBB CAP: the tax authority gains visibility from 1 December 2026

The NBB CAP (Central Point of Contact at the National Bank) (retrieved 17 May 2026) is the database of the National Bank in which all Belgian banks report the existence of the accounts they manage — current, savings, securities and term accounts, with IBAN and account holder. Since 2014, Belgian tax residents are also required to report foreign accounts to the NBB CAP (annual declaration in addition to Box XIII of the personal income tax return).

Three changes for 2026 are relevant for the JTER:

  1. First reporting of crypto holdings covers balances at 31 December 2025 and 30 June 2026, according to the Cobofisk analysis (source in Dutch, retrieved 17 May 2026).

  1. CAP access for the tax authority has been extended to cover the application of the securities tax itself — not only for income tax audits — via the Law of miscellaneous provisions of 18 December 2025 (BS 30 December 2025), taking effect on 1 December 2026.

  1. DAC8 on crypto from 1 January 2026 provides parallel data streams (see our article on DAC8 reporting — internal link, to be validated at publication).

Practical takeaway: a foreign broker is no longer a blind spot. The combination of CAP reporting obligations, DAC8 reporting and automatic exchange of information means the tax authority will have an almost complete picture of what a Belgian tax resident holds within one to two years.

Examples: €900,000, €1.2 million, €5 million

Three scenarios based on an assumed average value across the four reference dates. All figures assume the new rate of 0.30% and the €1,000,000 threshold.

Example 1 — average value €900,000 (one account, one holder)
Below the threshold. No tax due. Neither at 0.15% nor at 0.30%.

Example 2 — average value €1,200,000 (one account, one holder)
Above the threshold. The 10% cap (max 10% of the difference with the threshold) no longer applies above an average value of approximately €1,030,927.84 (at the 0.30% rate; at the old 0.15% rate this threshold was €1,015,228.42), so the full standard rate applies:

  • Old rate 0.15%: €1,200,000 × 0.15% = €1,800
  • New rate 0.30%: €1,200,000 × 0.30% = €3,600
  • Difference per year: +€1,800

Example 3 — average value €5,000,000 (one account, one holder)

  • Old rate 0.15%: €5,000,000 × 0.15% = €7,500
  • New rate 0.30%: €5,000,000 × 0.30% = €15,000
  • Difference per year: +€7,500

For joint ownership (two holders on one account): the tax remains per account, not pro rata per holder. The full €1,200,000 account is taxed at 0.30%; splitting ownership between two persons does not change the calculation of the tax itself.

Am I liable for the securities tax (TASA) in 2026?

Average value > €1,000,000?

No Yes

No tax

Belgian intermediary?

Yes No

Bank withholds 0.30%, you do nothing

Filing: before 15 July Payment: before 31 Aug

Source: Arts. 201/3–201/9/5 WDRT (Law 17/02/2021) + Draft Programme Law 2026

Decision tree — annual tax on securities accounts (TASA) from publication of Programme Law 2026. Rate of 0.30% on the average value above €1,000,000 per account.

Practical checklist for those at or near the threshold

  • Check your account value on the four reference dates (31 Dec, 31 Mar, 30 Jun, 30 Sep). Keeping a spreadsheet avoids surprises.
  • Check who your intermediary is. Belgian broker = automatic withholding. Foreign broker without a Belgian representative = file your own return before 15 July and pay before 31 August of the year following the reference period.
  • Check your Box XIII declaration in the personal income tax return: have you declared a foreign securities account? Have you also reported it to the NBB CAP? The reporting obligation via NBB CAP (retrieved 17 May 2026) runs separately from the tax declaration.
  • Splitting or converting no longer works. All splits of accounts with the same intermediary and conversions into registered shares from 30 October 2020 fall under an irrebuttable presumption (Art. 201/4 WDRT). Transfers to foreign accounts fall under the rebuttable general anti-abuse provision.
  • Pension savings funds, second pillar and certain Branch 21/23 contracts fall outside the tax. Check the legal structure for each contract — not all investment insurance products automatically escape.
  • Keep an eye on 2027. An account that was below the threshold in 2025 but rises above it through price gains in 2026 falls under the new rate from the first reference period that closes after publication.

Sources & further reading

Legislation + parliamentary documents

  • Code of various duties and taxes (WDRT), Book II Title X, Articles 201/3 – 201/9/5 — consolidated text on the FPS Finance website (source in Dutch). (retrieved 17 May 2026)
  • Law of miscellaneous provisions of 18 December 2025 — published in BS 30 December 2025 (numac 2025009647). Contains the extension of CAP access for the tax authority for the purpose of the annual tax on securities accounts, taking effect on 1 December 2026. (retrieved via Wolters Kluwer + Jubel 17 May 2026)

Official / primary
– FPS Finance — Annual tax on securities accounts (source in Dutch, retrieved 17 May 2026)
– National Bank of Belgium — Central Point of Contact (NBB CAP) (retrieved 17 May 2026)
– NBB — Explanatory note NBB CAP, update April 2026 (source in Dutch, retrieved 17 May 2026)
– Wikifin — The tax on securities accounts (source in Dutch — no English version available, retrieved 17 May 2026)

Secondary (law firms + analyses)
– Tiberghien — Closing a securities account and opening a new one can lead to double taxation (source in Dutch, retrieved 17 May 2026)
– Aternio — New securities tax: no way out? — analysis of anti-abuse provisions Art. 201/4 (source in Dutch, retrieved 17 May 2026)
– Degand & Partners — Draft Programme Law 23 February 2026, Title 2 Finance (source in French, retrieved 17 May 2026)
– OECCBB — Programme Law 2026: consequences of the postponement of the vote to 20 May 2026 (source in French, retrieved 17 May 2026)
– Strategica — The securities tax from 2026: what does this mean for your wealth plan? (source in Dutch, retrieved 17 May 2026)
– La Libre — Doubling of the securities account tax (24/11/2025) — revenue estimate €460 million (source in French, behind paywall; multiple practitioner sources cite €400 million — treat as indicative) (retrieved 17 May 2026)
– Cobofisk — CAP expansion crypto + securities account (source in Dutch, retrieved 17 May 2026)


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