Camille Van Vyve

24 Jun 2025

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2025 tax return: which accounts and income must be declared in Belgium?

Many clients ask whether an investment account opened with Easyvest needs to be reported in their Belgian tax return. The answer is very simple: if you are a Belgian tax resident, you do not have to declare anything regarding your Easyvest account. Let’s take this opportunity—during the busy tax season—to clarify the basic rules.

Which accounts need to be reported?

If you're a Belgian resident, you don’t need to report accounts held with Belgian financial institutions. However, you must report any account held abroad, including current accounts, term accounts, savings accounts, and investment accounts. In your tax return, you’ll need to indicate who owns the account and in which country it was opened. Additionally, you must report these foreign accounts (once only) to the Central Contact Point (CCP) of the National Bank of Belgium (www.cappcc.be), and notify them if the accounts are closed.

Which income must be reported?

In general, all income must be declared by a Belgian tax resident—regardless of its nature. This includes income from capital such as dividends, interest, and capital gains. “Some forms of capital income don’t need to be reported, either because they are not taxable (e.g. certain capital gains on shares), or because they have already been subject to withholding tax,” explains Tamia Landauro, Tax Director at Tax Consult.

Capital gains on shares are not taxable if they result from the “normal management of private assets.” Meanwhile, income from capital—such as interest and dividends—earned through a Belgian financial institution is subject to a withholding tax, which is considered final.

“This withholding tax—known as the withholding tax on movable income—is liberatory,” Landauro adds. “It means there’s no need to declare it in your Belgian tax return. However, any capital income earned via a foreign financial institution must always be declared in your tax return at the net amount received, after deduction of any local withholding tax.”

How is this income taxed?

Investment income (interest and dividends)

In Belgium, interest and dividends are taxed at a flat rate of 30%. But there are some exceptions:

• Savings account interest is tax-free up to €1.020 per year. Beyond that, your bank will automatically withhold the 30% tax.
• In 2024, up to €833 in direct share dividends is tax-exempt per taxpayer. This exemption doesn’t apply to dividends from mutual funds or distributing ETFs. If withholding tax was deducted anyway, you can reclaim up to €249.90 (30% of €833) in your tax return. In 2025, the exemption rises to €859.
• If your only taxable income comes from capital and is below €15.820, it may be better to opt for the standard progressive tax rates instead of the flat 30%. This often applies to students. Declaring this income allows you to recover the withheld tax.

If this income is received via a foreign bank, that bank may apply a local withholding tax that is non-refundable in Belgium.“If you receive a dividend from French shares (like Engie or TotalEnergies) through a Belgian bank, you can benefit from a 15% tax reduction on the net dividend received—if you declare it,” says Landauro. However, this dividend cannot qualify both for the €833 exemption and for the foreign tax credit. It’s best to use the exemption for other foreign dividends.

Capital gains

As mentioned, capital gains on shares are tax-free as long as they result from the normal management of private wealth and don’t need to be declared. But if they stem from speculation or professional activity, they may be taxed as miscellaneous income at 33%, or as professional income at progressive rates. The tax authorities can assess the nature of the activity through a questionnaire (asking about investment size, frequency, etc.). Capital gains on bitcoin and other cryptocurrencies are treated the same way. If they arise from normal private wealth management, they are not taxed.

What about the securities account tax?

If you hold one or more securities accounts with an average annual value exceeding €1.000.000, you are subject to the 0,15% annual securities account tax in Belgium (more info here). In this case, you must file a separate tax form and pay the tax yourself, unless the account is held with a Belgian bank, which will take care of both the declaration and the payment.“Belgian banks handle both the filing and the payment of this tax on your behalf,” concludes Landauro from Tax Consult.

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