Taxation on profits made in crypto, combined with profits made from your other assets arrives...
The goal is not to elaborate on the substance or form of this future tax but to describe what to expect even without a government at the time of this writing (04/11/2025)
Always conditional as it will be ratified by our future government, if there is a government (we are quite good at this game). Nothing is voted on, but the published elements trend in this direction and examples mentioned below.
General principle
Starting January 1, 2026, capital gains realized on cryptocurrencies could be subject to a tax of 10% in Belgium.
This taxation would target capital gains actually realized, meaning those resulting from the sale, exchange, or conversion of digital assets.
Unrealized gains, corresponding to mere variations in value without sale, would not be affected.
Exemption provided
An annual exemption of €10,000 would be provided for each taxpayer.
Thus, gains of €10,000 or less would not be taxable.This exemption would be indexed each year and could be partially carried forward:
€1,000 unused could be carried forward for five years;
the cumulative total could not exceed €15,000.
For married couples under a community property regime, the exemption could reach €30,000 (also indexed), no information found on the legal cohabitation regime at this stage.Determination of the taxable capital gain
Capital gains would be calculated based on a reference value set as of December 31, 2025, commonly referred to as a "snapshot" of the portfolio and as exists in the principle of "mandatory declaration of accounts held abroad."
In practice:
the taxable capital gain would correspond to the difference between the sale price and the value as of December 31, 2025; if, at that date, an asset is worth less than its purchase price, this original price could be maintained as the calculation base until December 31, 2030;
for sales made from 2031, the value as of December 31, 2025, would be retained if the asset had been acquired before that date.
The FIFO (First In, First Out) method would apply: the first units purchased would be considered the first sold.
Transaction fees or potential taxes would not be deductible.Explanation by example
Example 1 – Capital gain less than €10,000An investor sells part of their cryptocurrencies in 2026 with a net gain of €6,000. No tax would be due, the amount remaining below the annual exemption.
Example 2 – Capital gain exceeding €10,000An investor realizes a net capital gain of €15,000 in 2026.
Only €5,000 would be taxable at 10%, resulting in €500 in tax.
Example 3 – Year without sale
An investor holds their cryptocurrencies without selling in 2026.
No taxation would apply that year, but €1,000 of exemption could be carried forward to subsequent years (up to five years, maximum €15,000).Example 4 – Declaration and foreign accounts
For Belgian platforms, the tax would generally be withheld at source.
For foreign platforms, like Binance, investors would have to declare their capital gains themselves in their tax return.Deductibility of losses
Losses could be deducted from capital gains realized on the same category of assets during the same year.
However, they would not be carryforward to subsequent years and would only concern losses realized after December 31, 2025.
Current situation of the project
The proposed system stems from the tax reform project currently under discussion.
The precise modalities, notably the scope, calculation rules, and declaration obligations could still evolve before its final adoption.
International context and tax harmonization
This project to tax capital gains on cryptocurrencies is part of a broader international movement aimed at enhancing tax transparency and regulating digital assets.
International cooperation (OECD and CARF)
Globally, the Organisation for Economic Co-operation and Development (OECD) has established the Crypto-Asset Reporting Framework (CARF), a framework aimed at harmonizing the collection and automatic exchange of tax information related to cryptocurrencies. This system aims to ensure that transactions conducted via exchange platforms are reported to the tax authorities of the user's country of residence.
European implementation (DAC8 Directive)
In the European Union, the CARF has been integrated through the DAC8 directive (Directive on Administrative Cooperation 8), adopted in 2023.
This directive requires platforms operating in the EU to collect and transmit the tax data of European users. The stated goal is to promote tax fairness across different asset classes while reducing evasion risks and improving cooperation between member states.
Belgian context
In Belgium, the implementation of a tax on capital gains on securities, including cryptocurrencies, would fit within this logic of European and international alignment.
The project would aim to modernize the tax framework by integrating digital assets into a system comparable to that of other financial investments.
To remember
It is essential to understand and remember that taxation would concern the accumulation of financial assets, and not just positions in cryptocurrencies.
The examples mentioned in this article are intentionally limited to the case of an investor positioned solely on digital assets.
The proposed tax on capital gains from cryptocurrencies has not yet been definitively adopted, but it is part of a set of international reforms.
January 1, 2026, would constitute both the date of entry into force of the DAC8 directive and seemingly, the starting point of the Belgian tax reference period.
These developments converge towards an environment where digital assets would be treated for tax purposes comparably to other forms of wealth.What's next?
Let's hodl!