MakerDAO Tax Reporting for Belgian Crypto Investors

Automatic processing of DAI loans, Stability Fees and liquidations. Cryptotax connects directly to your wallet and converts every MakerDAO transaction into Belgian tax events.

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Capital gains tax 2026: The capital gains tax law was approved by the Chamber on 3 April 2026. Since 1 January 2026 you pay 10% on crypto capital gains above €10,000/year. Cryptotax calculates this automatically. More info →

What is MakerDAO?

One of the oldestDeFi protocols for decentralised lending and the issuance of DAI stablecoins.

Decentralised credit line

With MakerDAO you can lock crypto assets as collateral in a Vault and borrow DAI against a variable Stability Fee. The protocol automatically monitors your collateral ratio.

Stability Fees & DSR

Users pay interest on outstanding loans (Stability Fees) or receive interest via the DAI Savings Rate (DSR). These cash flows have a direct impact on your Belgian tax return.

Automatic liquidations

When your Vault falls below the minimum collateral ratio, your position is (partially) liquidated. Cryptotax reconstructs these events and includes them in your tax report.

What does Cryptotax support for MakerDAO?

We read on-chain data directly from Ethereum and process every part of your Vault activity.

Vault transactions

  • Opening and closing of Vaults
  • Collateral deposits and withdrawals
  • Minting and repaying DAI

Interest and fees

  • Calculation of Stability Fees
  • DSR interest and Savings Yield
  • Protocol costs and gas fees

Risk events

  • Liquidations and penalty fees
  • Collateral swaps via flashloans
  • Automatic deleveraging actions

How is MakerDAO taxed in Belgium?

Practical guidelines on interest, loans and risk events for individual crypto investors.

Borrowing is not taxable

Taking out DAI against your collateral is treated as a loan. As long as you do not realise a capital gain on your collateral, this is not a taxable event. Cryptotax marks these events as non-taxable cash flow.

Interest is income

Paid Stability Fees increase your cost basis, while received DSR interest constitutes movable income. Our report distinguishes both cash flows so you can fill in the correct box in your tax return.

Liquidations and swaps

In a liquidation, the protocol sells part of your collateral. This constitutes a taxable capital gain or capital loss. Collateral swaps can also trigger a taxable realisation; we link these transactions to the correct lots.

Repayments and closure

When you repay DAI and close the Vault, we reconstruct the complete cash flow so that your cost basis and remaining positions remain correct. All fees are included as deductible costs.

Belgian crypto tax 2026

📊 Capital gains tax explained ⚖️ 10% vs 33% vs 50% 🏦 CAP declaration per exchange 🔢 FIFO cost basis calculation

Create your MakerDAO tax report in minutes

Connect your wallet, choose the correct tax year and receive a detailed report covering interest, loans, liquidations and collateral swaps.

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