In short Buying shares with borrowed funds does not automatically result in speculative income or abnormal management of private wealth. In advance ruling no. 2020.0177, the Belgian Ruling Commission accepted that a future capital gain on shares would not be taxable, even though the acquisition was partly financed through a bank loan. 1. Facts of the Ruling The applicant was the CEO of a foreign group. As part of a management incentive plan, he was given the opportunity to ac

In short As of 1 July 2026, Binance does not hold a MiCA licence and can therefore no longer operate as a licensed crypto asset service provider within the European Union. The exchange withdrew its MiCA licence application in Greece and did not obtain a licence in another Member State before the deadline. Binance has stated that it intends to submit a new application in another EU jurisdiction, but at present it does not hold a MiCA licence. For European users, this means tha

In brief On 2 March 2026, the Court of First Instance of Walloon Brabant held that a capital gain of approximately EUR 1.7 million on shares was not taxable as miscellaneous income. The taxpayer had invested approximately USD 3.2 million in shares in early 2019 and sold them around three months later for approximately USD 5.2 million. Despite the short holding period, the substantial capital gain and the taxpayer’s professional expertise in the energy sector, the court found

Short answer: Bounty rewards are generally taxable in Belgium miscellaneous income (33% or depending on the circumstances as professional income taxed at progressive rates up to 50%. The tax authorities mainly look at the frequency of the activities, the professional nature, the expertise involved, the level of organization, and the profit motive. For crypto bounty rewards, the later tax treatment of the received crypto assets is also relevant. Concept Explanation Bug bounty

On 31 December 2025, an important snapshot moment for crypto-assets is expected to apply in the context of the new Belgian capital gains tax. Although the legislation has not yet been definitively adopted at the time of writing, the preparatory parliamentary works indicate that this date will retroactively function as the reference price (the so-called “snapshot moment”) for existing crypto positions, making it advisable to already gather the necessary documentation and valua

Buying Crypto in Belgium: On-Chain, via an Exchange or via a Bank (Bolero) – Does It Make a Tax Difference? On 16 February 2026, Bolero became the first Belgian bank to launch a platform allowing retail investors to invest directly in crypto-assets, currently limited to bitcoin (BTC) and ether (ETH). This launch fits within a broader European trend: crypto is increasingly being offered through traditional banks and within a clearer regulatory and supervisory framework. Follow

Our phone has been ringing off the hook this week. Many investors have asked us for clarification on the 2024 Annual Report of the Belgian Ruling Service (DVB). It states that as soon as an investor manages even a few coins in a speculative way, all capital gains on the entire crypto portfolio would become taxable as “miscellaneous income.” This is an extremely strict position and, in our view, legally unsustainable. What does the Belgian Ruling Service say in its annual repo

As of 1 January 2026, the eighth version of the Directive on Administrative Cooperation (DAC8) has formally entered into force. This European directive introduces far-reaching changes for crypto investors, crypto-asset service providers and tax authorities alike. DAC8 significantly strengthens fiscal transparency by imposing extensive reporting obligations specifically targeting crypto-assets and related transactions. For more information on the entry into force of DAC8 and i

Belgium is home to a growing number of individuals active in the crypto ecosystem. This includes not only developers, but also professionals in legal, compliance, finance, marketing and management roles. Both employees and self-employed individuals increasingly work for blockchain projects, crypto platforms and Web3 initiatives, often within international structures. In recent months, we have increasingly been asked whether Belgian tax is due on salary or bonuses paid in cryp

With the Act of 11 December 2025, Belgium has legally embedded the European MiCA framework into its domestic legal system. Although Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) has been directly applicable since the end of 2024, Belgium until recently lacked a national framework for supervision, sanctions and the allocation of regulatory powers. This gap is filled by the Belgian implementing act of 11 December 2025. It is important to emphasise that this legis

The use of crypto-assets in a gambling context has increased significantly in recent years. Foreign platforms allow users to place bets using cryptocurrencies on sports events, political outcomes, or other future developments. One of the most well-known examples is Polymarket, a so-called “prediction market” where users wager crypto on the likelihood of future events. Although such platforms often present themselves as innovative markets or information tools, the question ari

As the end of the year approaches, we observe in practice that the tax authorities are by no means entering winter mode. Both local tax inspectors and the Special Tax Inspectorate remain particularly active. An increasing number of clients are receiving requests for information from the tax authorities at short notice, or are being invited for interviews in which crypto income and crypto transactions are explicitly targeted. DAC8 and the renewed crackdown on crypto income In

The Belgian federal government is developing a legal framework that would allow the tax authorities to scrutinize the entire Belgian banking system through large-scale data mining (“Money Control”). What has until now been an exceptional investigative tool would become a structural and automated component of fiscal oversight. This shift fits within the broader digitalisation of tax enforcement and carries specific implications for taxpayers who hold or have realised crypto-as

As from 1 January 2026, Belgium is on the eve of introducing a general capital gains tax of 10% on financial assets, including crypto-assets. Although the legislation has not yet been definitively adopted at the time of writing, it is generally expected that the new regime will apply retroactively as from 1 January 2026. This implies that realised crypto gains will in principle become subject to reporting obligations. The traditional tax exemption for capital gains realised w

With the growing popularity of cryptocurrencies, we are increasingly asked the same practical questions by investors: can crypto gains be transferred without issues to a Belgian bank account, and do “crypto-friendly” banks actually exist in Belgium? The short answer is that Belgian banks are not inherently hostile to cryptocurrencies, but they are subject to strict anti-money laundering and know-your-customer obligations. In principle, crypto-related funds can be credited to

We're increasingly being asked by clients who invest in cryptocurrency personally: "Do I have to declare my crypto profits in Belgium?" ...

Now that the crypto bull market appears to be back in full swing and many cryptocurrencies have seen significant increases in value,...

With the arrival of the De Wever I government, the focus of taxation seems to be more than ever on tracking and taxing digital assets...

Quick answer From 1 January 2026, Belgium taxes capital gains. Under normal management of private assets (for example, a buy and hold strategy using own funds and without professional tools), a 10% tax rate generally applies to capital gains exceeding €10,000. In cases of speculative or abnormal management (for example, frequent trading, the use of borrowed funds, or day trading), the 33% tax rate plus municipal surcharges continues to apply. The tax authorities bear the burd

Quick answer As from 1 January 2026, Belgium introduces a 10% capital gains tax on realized gains from financial assets, including all crypto-assets. The first €10,000 per year is exempt. Historical gains accrued before 31 December 2025 remain fully tax exempt. The calculation follows the FIFO method, while the existing 33% tax on speculative transactions continues to apply alongside the new regime. Key concepts at a glance Concept Explanation Reference date 31 December 2025,