Belgium

Belgium introduced a formal 10% capital gains tax on cryptocurrency for individual investors from 1 January 2026, replacing a framework in which the tax treatment of crypto was determined entirely by the nature of the holder's activity — with no CGT for "normal investors," 33% for speculative traders, and progressive rates for professionals. The reform creates a clearer baseline for most investors, though the categories of speculative trader and professional remain in place and continue to carry higher rates. The Financial Services and Markets Authority (FSMA) supervises crypto service providers. DAC8 exchange reporting is active from 2026.

Core Tax Treatment

From 1 January 2026, capital gains from crypto disposals by individual investors who are not speculative traders or professionals are taxed at a flat rate of 10%. An annual exemption of €10,000 applies, with a carryforward mechanism allowing unused exemption (up to €15,000 cumulative) to be carried into the following year. Crypto-to-crypto swaps are taxable disposals — every exchange of one token for another triggers a gain or loss calculation on the disposed asset at the euro value at the time of the swap.

The 2026 Step-Up Basis

A significant transitional provision accompanies the 2026 reform: all cryptocurrency held on 1 January 2026 is treated as having been acquired at its market value on that date. This means gains that accrued before 2026 are effectively exempt — the step-up in basis wipes the slate clean. Only appreciation from 1 January 2026 onward is subject to the new 10% CGT.

Taxpayers must document their holdings and their market values as at 1 January 2026. This is both a compliance obligation and a planning opportunity — accurate documentation of the step-up basis is essential to correctly calculate gains on future disposals. Exchange records, portfolio tracking software exports, or CoinMarketCap/CoinGecko historical prices should be retained and dated for this purpose.

Speculative Trading — 33%

Gains that are characterised as speculative remain subject to the higher 33% rate, not the new 10% rate. Belgium's tax authority (FOD Financiën) defines speculative activity as transactions that go beyond normal management of a private portfolio — frequent trading with short holding periods, use of leverage, and activities resembling professional market participation. There is no bright-line rule, and the classification is fact-specific.

The continued existence of the 33% speculative rate means that active traders cannot simply assume the 10% rate applies. The risk of reclassification at 33% is a meaningful concern for anyone trading frequently or using leveraged products.

Professional Income — Up to 50%

Where crypto activity constitutes a professional occupation — systematic trading as a primary business, providing crypto-related services, or operating a mining or staking business — income is taxed at progressive rates of up to 50% plus social contributions. The effective total rate at the top of the scale can exceed 55%. Professional classification is reserved for genuinely commercial operations; most individual investors will not fall into this category.

Staking and Mining

Income from staking and mining is taxed as movable income (revenus mobiliers) at 30% or as professional income at progressive rates, depending on the nature and scale of the activity. The 2026 reform does not change the treatment of income events — the 10% CGT rate applies only to disposal gains, not to tokens received as yield or mining rewards. Those tokens, once received as taxable income, have their own basis for future disposal purposes.

Reporting

Crypto gains are declared in the annual tax-on-web return. All taxable disposals, income events, and the step-up basis documentation for pre-2026 holdings must be retained and available. Belgium also operates the Central Point of Contact (CPC) reporting system, under which financial accounts and crypto holdings above certain thresholds must be reported. DAC8 exchange data from 2026 adds another layer of visibility for the FOD.