The Belgian stock exchange tax (TOB): the complete guide
The tax on stock exchange transactions - 'taks op beursverrichtingen', 'beurstaks' or simply TOB - is Belgium's tax on buying and selling listed securities. Belgian banks withhold it automatically. If you invest through a foreign broker, you must compute, declare and pay it yourself. This guide explains everything.
Who has to declare the TOB themselves?
It all depends on your broker. Belgian players (Bolero, Keytrade, Saxo Bank Belgium, Belfius, BNP Paribas Fortis, ...) withhold the tax on every trade: you do nothing. Foreign brokers do not. If you use Interactive Brokers, Trading 212, Trade Republic, or DEGIRO without its optional Belgian service, you are legally the one who owes the tax and must file periodically.
The rates: 0.35%, 0.12% or 1.32%
The tax applies to buys AND sells, each time on the transaction value in euro. There are three rates, each with a per-transaction cap:
| Instrument | Rate | Cap per transaction |
|---|---|---|
| Individual shares, ETCs | 0.35% | EUR 1,600 |
| Bonds and distributing ETFs; accumulating ETFs registered in the EEA but not in Belgium (e.g. IWDA, CSPX) | 0.12% | EUR 1,300 |
| Accumulating ETFs registered in Belgium (e.g. VWCE) | 1.32% | EUR 4,000 |
A fund's rate depends on where the fund is registered for distribution - not where it is listed and not where your broker sits. Two ETFs tracking the same index can carry different rates: VWCE (registered in Belgium, accumulating) is at 1.32%, IWDA (not registered in Belgium) at 0.12%. Registration attaches at sub-fund level: share classes of the same sub-fund inherit its status. A fund registered nowhere in the EEA falls back to 0.35%. This lookup is exactly what the calculator automates with its ISIN database.
Trades in foreign currency
If you bought a share in dollars or pounds, you declare the euro amount, converted at the ECB reference rate of the trade date. The calculator fetches those rates automatically.
Declaring and paying: MyMinfin and DivTax
- Group your transactions per calendar month: since July 2025 you file one declaration per month.
- The deadline per month is the last working day of the second month after it. March trades must be declared by the last working day of May.
- File via MyMinfin > My declaration > Miscellaneous taxes (DivTax), logging in with a Belgian eID or itsme. Email filing is no longer accepted since 14 July 2025; paper filing by post remains possible (FPS Finance, AAFisc, Gaston Crommenlaan 6 box 707, 9050 Ghent).
- Pay to BE39 6792 0022 9319 (BIC PCHQBEBB) with the structured reference from DivTax.
What if you are late?
A late declaration risks a fine of EUR 50 per started week (max EUR 2,600 per declaration) plus late-payment interest. If you are late, read the guide on forgetting to pay the TOB with the fine estimator and the step-by-step fix.
Frequently asked questions
- Is there a minimum amount below which no TOB is due?
- No. The tax applies from the first euro of transaction value; there is no exemption threshold. The tax is however capped per transaction (EUR 1,600, EUR 1,300 or EUR 4,000 depending on the rate).
- Do I also pay TOB when selling?
- Yes. Both buys and sells are taxed, each at the instrument's rate.
- Is the TOB the same as the capital gains tax?
- No. The TOB is a tax on each transaction. The capital gains tax (10% from 2026) taxes your realised profit and runs through your annual income tax return. With a foreign broker you handle both yourself.
- What happens if I simply do nothing?
- The obligation does not quietly disappear, and foreign accounts must be reported to the National Bank's CAP register and in your tax return anyway. Regularising spontaneously puts you in a much stronger position than being found by the tax authority.