Update 24 May 2026: The Chamber of Representatives definitively approved the law on the capital gains tax on 3 April 2026. The law was published in the Belgian Official Gazette on 21 April 2026…
Update 24 May 2026: The Chamber of Representatives definitively approved the law on the capital gains tax on 3 April 2026. The law was published in the Belgian Official Gazette on 21 April 2026 as the law of 6 April 2026 and applies retroactively from 1 January 2026.
On 3 April 2026, the Chamber of Representatives voted in favor of the law on the capital gains tax. The law was published in the Belgian Official Gazette on 21 April 2026 as the law of 6 April 2026 and is formally in force, with retroactive effect to 1 January 2026.
For crypto investors, something fundamental changes: the era in which you could stay completely off the tax authority's radar as a prudent person (bonus pater familias) is over. In this article we explain what the new law concretely means, what is specific to crypto, and which steps you can already take now.
TL;DR: capital gains tax on crypto in Belgium in 5 points
- 10% rate on net realized capital gains within normal management of private wealth.
- EUR 10,000 base exemption per year (partly carryable up to a maximum of EUR 15,000 across multiple years).
- Step-up on 31 December 2025: the market value on that date becomes your new fiscal purchase price.
- Pre-2026 positions use the weighted average acquisition value per financial asset (art. 102 §1 para. 4 WIB 92), both for the step-up (market value 31/12/2025) and for the latent-loss exception (weighted average of actual purchase prices).
- No withholding tax on crypto: you always declare your capital gains yourself in your personal income tax return.
What is the capital gains tax on crypto?
The capital gains tax on crypto is a new Belgian tax of 10% on realized capital gains from crypto assets, introduced by the law that the Chamber approved on 3 April 2026. It applies retroactively from 1 January 2026 and, for normal investors, replaces the old regime in which capital gains under normal management remained entirely untaxed.
The key points of the new law:
- Rate: 10% on net realized capital gains within normal wealth management. Speculative transactions (outside normal management) remain taxed at 33% plus municipal surcharge, without a base exemption.
- Base exemption: the first EUR 10,000 of net capital gains per year is exempt. If you do not fully use that exemption, the unused part (max EUR 1,000 per year) carries forward to the following years, up to a maximum of EUR 15,000.
- Capital losses: losses realized in the same calendar year are deductible from your capital gains. Carrying them forward to a following year is not possible.
- Historical capital gains exempt: profit built up before 1 January 2026 is not taxed. For this the law uses a "snapshot moment" on 31 December 2025.
You can read the full context (DAC8, 2027 filing, staking, CAP reporting) on our pillar page Crypto taxes Belgium 2026.
The snapshot moment: the value on 31 December 2025
Snapshot moment: the market value of your crypto on 31 December 2025 becomes your new fiscal purchase price. Only the increase in value from that moment on is taxable.
This is the crucial concept for everyone who already held crypto before 2026. This way the law prevents historical profit, built up in a period when capital gains were not taxed, from being retroactively caught by the levy.
Example: Emma sells 1 BTC in 2026
Emma bought 1 BTC in 2020 for EUR 8,000. On 31 December 2025 bitcoin stood at EUR 74,652. In June 2026 she sells that BTC for EUR 80,000. In addition, she sells 5 ETH at a total loss of EUR 2,000.
| Transaction | Sale price | Cost basis (step-up) | Result |
|---|---|---|---|
| Sale of 1 BTC | EUR 80,000 | EUR 74,652 | + EUR 5,348 |
| Sale of 5 ETH | EUR 15,000 | EUR 17,000 | − EUR 2,000 |
| Net capital gain | EUR 3,348 |
Emma's net capital gain of EUR 3,348 falls entirely within the EUR 10,000 base exemption. So she pays EUR 0 in capital gains tax. Had her net capital gain been EUR 16,000, the calculation would have been: (EUR 16,000 − EUR 10,000) × 10% = EUR 600 in tax.
There is one important exception to the step-up: if your actual purchase price was higher than the value on 31 December 2025, you may use that higher purchase price. You do have to be able to prove this yourself, and this possibility applies only to sales up to and including 31 December 2030.
For exchange-listed assets, the closing price on 31 December 2025 is the reference. For crypto, which is not listed on a regulated exchange, you may determine the market value based on transaction data or other market values. Which sources the tax authority will exactly accept (CoinGecko, CoinMarketCap, exchange prices) is still unclear. There is no official position on this yet.
What is specific to crypto?
Here lies the most important difference with stocks and ETFs: for crypto there is no discharging withholding tax (bevrijdende roerende voorheffing). Where banks can automatically withhold the 10% for classic investments (opt-in) or you can choose to declare it yourself (opt-out), that choice does not exist for crypto.
As a crypto investor you must always file yourself through your annual tax return (personal income tax). That applies regardless of whether you trade via a Belgian or a foreign exchange. You are fully responsible for keeping your transaction history and correctly calculating your capital gains.
This makes reliable transaction record-keeping not optional, but mandatory. Cryptotax delivers that automatically, with support for the Belgian FIFO method and step-up.
The transition period: 1 January to 31 May 2026
The law applies retroactively from 1 January 2026, even though it was only voted on 3 April 2026. For the period from 1 January to 31 May 2026 a transitional arrangement applies: financial institutions do not yet have to withhold tax at source in that period.
For crypto investors, the transition period changes nothing about your obligations: you keep track of everything yourself and declare it yourself anyway.
Normal management vs. speculation: the distinction remains
A widely hoped-for simplification did not materialize. The existing category "abnormal management of private wealth" remains in place alongside the new 10% scheme. Concretely this means:
- Do you trade like a normal investor (buy-and-hold, limited frequency, diversified)? Then you fall under the 10% rate with the base exemption.
- Does the tax authority qualify your trading behavior as speculative or abnormal? Then the 33% rate continues to apply, without a base exemption. The assessment is made case by case, based on factors such as transaction frequency, leverage use, and the ratio between your crypto portfolio and your total wealth.
You can read more about this distinction in our article on the prudent person test.
Which steps can you already take now?
- Determine your snapshot value. Document the value of all your crypto positions on 31 December 2025. Keep screenshots of exchanges, export your portfolio overview, or use a crypto tax platform that records this automatically.
- Gather your complete transaction history. You need every purchase, sale and swap, including amounts, prices and fees. Export CSV files from all your exchanges and keep them safe.
- Do not forget your foreign accounts. Do you have an account with a foreign exchange such as Bitvavo, Binance or Kraken? Then you are obliged to report this to the Central Point of Contact (CAP) of the National Bank and to include it in your tax return. See our CAP checklist for a step-by-step explanation.
- Calculate your position. With the right data you can already estimate how much capital gain you realized in 2026 and whether you exceed the EUR 10,000 base exemption. Cryptotax calculates this automatically with the FIFO method that the Belgian tax authority requires.
- Review the final legal text. The law was published in the Belgian Official Gazette on 21 April 2026 as the law of 6 April 2026. The calculation rules for pre-2026 positions are in art. 102 §4 WIB 92.
Open questions that still have no answer
There are still a number of points on which the legislator or the FOD Financiën has not yet provided clarity:
- The valuation method for illiquid tokens on 31 December 2025 is not specified. For tokens that trade only on decentralized exchanges (DEX), there is no official position on which price sources are acceptable.
- The tax treatment of stablecoins at the snapshot moment is unclear. Technically, a stablecoin such as USDC may stand at EUR 0.9998 on the reference date instead of exactly EUR 1. How to handle this is not regulated.
- The administrative circular from the FOD Financiën, which should work out the law in practice and answer the above questions, is still pending.
FAQ: frequently asked questions
Is the capital gains tax on crypto now final?
Yes. The Chamber of Representatives definitively approved the law on 3 April 2026 and published it on 21 April 2026 in the Belgian Official Gazette as the law of 6 April 2026. The law applies retroactively from 1 January 2026.
From what amount do I pay capital gains tax on crypto?
The first EUR 10,000 of net capital gain per calendar year is exempt. Above that amount you pay 10% on the excess. Unused exemption partly carries forward to following years, up to a maximum of EUR 15,000.
Does every crypto-to-crypto swap count as a taxable event?
Yes. Every exchange of one crypto asset for another is a taxable realization. The capital gain is calculated based on the EUR value of both sides at the moment of the swap.
How does the 10% capital gains tax differ from the 33% on miscellaneous income (diverse inkomsten)?
The 10% applies under normal management of private wealth, with the EUR 10,000 base exemption. The 33% rate (plus municipal surcharge) applies to speculative trading, so for those who trade frequently, use leverage or manage crypto as a (semi-)professional activity. At that rate there is no base exemption.
Summary
The capital gains tax on crypto is now law. The Chamber of Representatives voted for definitive approval on 3 April 2026; the law was published in the Belgian Official Gazette on 21 April 2026 (law of 6 April 2026), retroactive to 1 January 2026.
As a crypto investor you have no bank that arranges it for you. You are responsible yourself for your records, your calculation and your tax return. The best preparation is to start now: record your snapshot value, export your transaction history, and calculate your capital gains.
The law was published in the Belgian Official Gazette on 21 April 2026. Last update: 24 May 2026.
Disclaimer: this article is informational and does not constitute tax, legal or financial advice. Consult a tax advisor for your personal situation.
