- Capital gains on crypto are taxable from 2026 at 10% (normal management)
- An annual exemption of EUR 10.000 applies, with carry-over to following years
- The law does not impose FIFO: pre-2026 holdings follow a weighted average per asset, while for later purchases a chronological FIFO record is the most defensible approach
- Staking rewards are taxed at 30% as movable income
- DAC8 ensures that exchanges automatically report your transactions to the tax authority
- Withholding tax is never automatically levied on crypto capital gains
Last updated: May 2026 · Reading time: 7 minutes
Belgium introduced a crypto capital gains tax from 1 January 2026. For investors managing their crypto as "normal management" (prudent private investment), realised gains were previously entirely tax-free. From 2026, a rate of 10% on the capital gain applies above an annual exemption of EUR 10.000.
The law was approved on 3 April 2026 by the Chamber of Representatives and applies retroactively from 1 January 2026. On 21 April 2026 it was published in the Belgian Official Gazette (Belgisch Staatsblad) as the Law of 6 April 2026; the legal framework is now definitive. Read also our in-depth analysis of the crypto capital gains tax in 2026 for additional worked examples, or the broader context on crypto taxes Belgium 2026.
What is the crypto capital gains tax in Belgium?
The crypto capital gains tax is a 10% tax on the capital gain (profit) you realise when selling crypto above the annual exemption of EUR 10.000. The Chamber of Representatives approved the law on 3 April 2026.
Concretely, every sale, swap or conversion to fiat from 1 January 2026 onwards is a taxable event. The capital gain is the difference between the sale value in euro and the tax cost basis. Only the portion above EUR 10.000 net profit per calendar year falls under the 10% rate. For pre-2026 holdings, the cost basis is locked to the market value on 31 December 2025 (the so-called step-up rule).
How is the capital gains tax calculated?
The calculation follows a fixed framework per sale. For lots acquired from 2026 onwards, the law does not prescribe a disposal order; a chronological FIFO approach is the most defensible method and the one Cryptotax applies:
- Determine the sale value in euro at the exact moment of the transaction (sale, swap or conversion).
- Determine the tax cost basis. For pre-2026 holdings this is the higher of the weighted-average acquisition price and the market value on 31/12/2025. Post-2026 acquisitions are allocated per token chronologically (FIFO).
- Calculate the gross capital gain = sale value minus cost basis.
- Offset capital losses from the same calendar year within the same category.
- Deduct the exemption of EUR 10.000 from the annual net capital gain. The balance is taxed at 10%.
A concrete example: Lara bought half a BTC in 2022 for EUR 18.000. On 31 December 2025 her position was worth EUR 32.000 (step-up). In June 2026 she sells for EUR 45.000. Her taxable capital gain is EUR 45.000 minus EUR 32.000 = EUR 13.000. After deducting the annual exemption of EUR 10.000, EUR 3.000 remains, on which she pays 10%, i.e. EUR 300. The EUR 14.000 gain she built up between 2022 and end of 2025 remains fully exempt thanks to the step-up.
If later in 2026 she makes a swap where she realises a EUR 4.000 loss on ETH, her net capital gain drops to EUR 9.000. That is below the exemption, so she pays no capital gains tax for that year. Cryptotax supports this calculation automatically based on your imported wallets and exchanges.
When does the capital gains tax apply?
The effective date and scope follow three strict rules:
- Effective date 1 January 2026 (retroactive). Although the law was voted on 3 April 2026, it applies retroactively to all realised capital gains from New Year's Day 2026. Transactions from 2025 or earlier remain under the old regime.
- Step-up rule on 31 December 2025. For crypto you already held before 1/1/2026, the market value on 31/12/2025 becomes your tax cost basis (provided it is higher than your actual acquisition price). Document this reference-date value thoroughly: screenshots, CSV exports and CoinGecko history serve as evidence.
- No loss carry-forward. Unused capital losses within a year cannot be carried forward to the next taxable period. Plan the realisation of gains and losses within the same calendar year.
The law was published in the Belgian Official Gazette on 21 April 2026. The tax return (declaration) will first be filed in 2027 for the 2026 taxable period.
Three profiles, three rates
The Belgian tax authority (FOD Financiën) distinguishes between profiles based on how you manage your crypto. The profile determines the applicable tax rate:
Normal management of private assets (10%)
Most private investors fall into this category. You buy crypto as an investment, hold it for longer periods, and sell with a degree of regularity. The capital gain is taxed at 10% after deducting the annual exemption of EUR 10.000.
Speculative management (33%)
If the tax authority concludes that your trading pattern is speculative, the rate becomes 33% (miscellaneous income / diverse inkomsten). Indicators include: very high transaction frequency, leveraged trading, short holding periods, and the use of borrowed capital. The EUR 10.000 exemption does not apply here.
Professional income (up to 50%)
Anyone exercising crypto activities as a professional occupation pays progressive rates up to 50% as professional income. This applies for example to professional traders or those running a crypto-related business.
Staking rewards: 30%
Staking rewards are treated as movable income (roerend inkomen) and taxed at 30%. The taxable value is the EUR market value at the moment of receipt. That value immediately also becomes the cost basis for any subsequent sale. Read more about DeFi income on our page about staking and tax.
Exemption of EUR 10.000
An annual exemption of EUR 10.000 applies on net capital gains from normal management. Key features:
- The exemption applies to your total net capital gain per year, across all transactions
- Only the portion above EUR 10.000 is taxed at 10%
- Unused exemption can be carried forward to following years (carry-forward)
- The exemption only applies under normal management, not under speculative or professional use
FIFO and pre-2026 cost basis
Contrary to what is often claimed, the Law of 6 April 2026 does not impose FIFO. For crypto acquired before 1 January 2026, the law prescribes a weighted-average acquisition price per asset (art. 102 §4 WIB 92): all pre-2026 purchases of the same token are pooled with an average price per unit.
For acquisitions from 1 January 2026 onwards, the law is silent on the disposal order. A chronological FIFO approach (First In, First Out), where the oldest lot is disposed of first on each sale or swap, is the most objective and defensible method; that is what Cryptotax applies. Read more about how it works on our FIFO page.
For example, if you bought ETH on multiple occasions between 2020 and 2025, those lots are pooled into a weighted average. If you buy additional ETH in 2026, that becomes a separate lot in the chronological records.
In addition, the step-up rule applies: if the market value on 31 December 2025 is higher than your weighted-average acquisition price, that higher value becomes your cost basis. Gains built up before 2026 are therefore not taxable.
Offsetting capital losses
Losses on crypto transactions can under certain conditions be offset against capital gains. However, the rules are stricter than for some other investments:
- Losses are only offsettable within the same category (C) and within the same taxable period
- There is no carry-forward to a following year: unused losses lapse
- Offsetting is only possible if you declare all capital gains in full
- Transaction costs and taxes (such as network fees) are not deductible as a separate cost
Concretely: if in 2026 you make EUR 15.000 profit on BTC but EUR 4.000 loss on ETH, your net capital gain is EUR 11.000. After the EUR 10.000 exemption you pay 10% on EUR 1.000 = EUR 100.
More details can be found on our page about offsetting capital losses.
No withholding tax for crypto
Unlike shares held through Belgian banks, withholding tax is never automatically deducted on crypto capital gains. This applies to both sales on exchanges and on-chain transactions.
Withholding tax deduction is legally limited to Belgian financial institutions on the sale of classic financial instruments (shares, bonds, funds). Crypto assets do not fall under this.
This means that as a taxpayer you must always declare your capital gains yourself in your personal income tax return (personenbelasting). Nothing is automatically withheld or pre-paid.
DAC8: automatic reporting
Since 1 January 2026, crypto exchanges in the EU are required to report transaction data of their users to tax authorities via DAC8. The first data exchange is expected in September 2027 covering the 2026 taxable period.
This means the tax authority can compare your declared capital gains with the data received directly from the exchange. Make sure your declaration is correct. More information can be found in our CAP/DAC8 checklist.
Frequently asked questions about the legal mechanism
How does the law define "capital gain" exactly?
The capital gain is the positive difference between the transfer price (sale value in euro, after deducting transaction costs directly related to the disposal) and the tax cost basis of the transferred crypto asset. For pre-2026 holdings, the higher of the weighted-average acquisition price and the market value on 31/12/2025 applies. Post-2026 lots are allocated chronologically (FIFO); the law itself does not prescribe an order.
Does the capital gains tax also apply to crypto-to-crypto swaps?
Yes. Every swap, including between two crypto assets, is treated for tax purposes as a realised sale of the outgoing token at the exact moment of the swap, valued at the EUR market price. A swap of ETH to SOL is therefore not a neutral operation but a taxable disposal. More on our page about swaps.
How does offsetting capital losses within a year work?
Capital losses from normal management can only be offset against capital gains from the same category within the same calendar year. The order: first net all gross gains and losses into a net capital gain, then deduct the EUR 10.000 exemption, and the balance is taxed at 10%. Unused losses may not be carried forward to the next taxable period.
Is the retroactive effect constitutional?
The retroactivity (from 3 April 2026 back to 1 January 2026) was explicitly provided for by the legislator and fits within the annual budget cycle. The Constitutional Court (Grondwettelijk Hof) accepts retroactivity of tax laws when they are sufficiently foreseeable for the taxpayer. Since the coalition agreement and draft laws have been public since 2024, the law is presumably watertight. A legal challenge cannot be excluded in principle, but we recommend calculating as if the law is definitive.
What about a sale that uses the actual acquisition price as cost basis?
For pre-2026 holdings a choice option applies: you may use the actual historical acquisition price if it is higher than the market value on 31/12/2025. Condition: you must be able to prove that higher acquisition price with conclusive documentation (exchange CSV, on-chain evidence, bank statements). This choice option is moreover limited to sales before 31 December 2030. See our detailed guide on the 5-year offset window for latent losses for three worked examples and the no-loss guard.
How much tax do you pay on EUR 100.000 of crypto?
That depends on your capital gain, not on the total value. The 10% tax is levied only on the realised net profit above the annual exemption of EUR 10.000, and only on capital gains realised from 1 January 2026 (gains from before 2026 remain exempt thanks to the step-up on 31/12/2025). An example: if you sell crypto for EUR 100.000 with a cost basis of EUR 0, your capital gain is EUR 100.000; after the EUR 10.000 exemption you pay 10% on EUR 90.000, i.e. EUR 9.000. If your cost basis was EUR 60.000, the capital gain is EUR 40.000 and you pay 10% on EUR 30.000 = EUR 3.000. Under speculative management, no exemption applies and the rate is 33%.
How Cryptotax helps
Cryptotax calculates your capital gains automatically according to Belgian rules: FIFO for post-2026 acquisitions, weighted average for pre-2026 holdings, step-up on 31 December 2025, and automatic application of the EUR 10.000 exemption. Import your wallets and exchanges and receive a ready-to-use tax report.
Start a free scan and calculate your crypto capital gains tax for 2026.
Want to read more? Check our guides on the step-up rule, crypto tax 2026 and the EUR 10.000 exemption. For Revolut users: our guide on crypto taxes Belgium 2026 via Revolut shows how to link your CSV export to the capital gains tax.
Sources:
For the specific tax treatment of NFTs under the capital gains tax, read our NFT tax in Belgium: complete guide for buyers, sellers and creators.
Disclaimer: This article is purely informational and not individual tax advice. The law on capital gains tax was approved on 3 April 2026 and published in the Belgian Official Gazette on 21 April 2026. Consult a recognised Belgian tax adviser for specific cases.
