Growing
your savings.
Regulated savings account, ETFs, pension savings, government bonds, life insurance — each product has its taxation and target audience. New in 2026: 10% capital gains tax. We unravel everything to help you choose the right product and optimise.
2026: the fiscal revolution of savings
The De Wever I government introduced, as of 1 January 2026, a 10% tax on capital gains from financial assets (shares, ETFs, bonds, crypto, branches 21 and 23). The law was passed on 3 April 2026.
Historical capital gains (acquired before 31 December 2025) remain permanently exempt, and each person benefits from an annual exemption of €10,000 (up to €15,000 with carry-over). Pension savings remain fully exempt.
The essentials to understand
Savings and financial taxation in Belgium are essentially federal — rates and rules are the same everywhere. The region barely intervenes (except for property taxation and inheritance tax).
Four mechanisms now structure everything: the withholding tax (30%) on investment income, the reduced withholding (15%) on the regulated savings account above €1,020 of interest, the tax reduction linked to pension savings and long-term savings, and the new 10% tax on capital gains realised from 2026.
The challenge is to combine these products according to your profile: security or yield, short or long term, immediate liquidity or locked capital. There is no product "better than the others" — there is an optimal mix according to your situation.
The main savings products
Regulated savings account
The Belgian classic. Money immediately available, capital guaranteed, interest exempt up to €1,020/year/person. Above that, reduced 15% withholding (not 30%). Low yield (typically 0.5 to 2.5%).
Government bonds
Issued by the Belgian State, several maturities available. 30% withholding tax at source (standard rate since the exceptional 15% issue in 2023). Direct competition with the savings account for large amounts.
ETFs / Trackers
Diversified index funds. Low fees, accessible from a few euros. New 2026: 10% capital gains tax on resale (with €10,000/year exemption). Stock exchange tax on buy/sell. Historical long-term yield: 5-7%.
Pension savings
30% tax reduction up to €1,050 (income 2026), or 25% up to €1,350. Capital locked until age 60. Exempt from the new capital gains tax. Ideal for both self-employed and employees.
Long-term savings
Branch 21 or 23 life insurance. 30% tax reduction on premiums (max €2,450) if you don't have a mortgage saturating your housing tax allowance. Branches 21/23 now subject to the 10% capital gains tax.
Individual shares
More potential but more risk. 30% withholding on dividends (1st tranche of €859 exempt via tax return). Capital gains now taxed at 10% above €10,000/year.
The 2026 capital gains tax — the essentials
The most structuring change of the year| Element | 2026 rule |
|---|---|
| Rate | 10% on realised capital gains (vs 0% before 2026) |
| Effective date | 1 January 2026 (law passed on 3 April 2026) |
| Assets concerned | Shares, bonds, ETFs, funds, crypto, branches 21/23, derivatives, investment gold |
| Annual exemption | €10,000/person (couple = €20,000), carry-over up to €15,000 |
| Historical capital gains | Permanently exempt (reference value: 31 December 2025) |
| Exempt products | Pension savings, group insurance (2nd pillar), IPT, VAPZ |
| Calculation method | FIFO (first in, first out) for staggered purchases |
| Donations / inheritance | No immediate taxation, but the original purchase price remains taken into account |
For holders of a substantial participation in a company (≥20%), a progressive scale applies: 1.25% up to €2.5M, 2.5% up to €5M, 5% up to €10M, 10% above — with a first-million exemption threshold spread over 5 years.
→ Read the complete guide: 2026 capital gains tax in Belgium
And the regional taxation?
For savings and investment, the region has almost no impact. The only notable difference is the regional surcharge on the IPP which adds a few percentage points to your federal tax. This surcharge is slightly lower in Flanders, identical between Brussels and Wallonia.
However, on inheritance tax, the gaps between regions are huge (sometimes more than double). If you build wealth, the region where you domicile your children will count more than the one where you live yourself.