Capital gains tax on gold in Belgium since 2026: what applies to you?
Since 1 January 2026 Belgium has taxed capital gains on financial assets at 10 per cent, and investment gold is one of them. Gold jewellery is not covered. Below is what the law says, as of October 2026.
What has changed?
The Act of 6 April 2026 introducing a tax on capital gains on financial assets was published in the Belgian Official Gazette on 21 April 2026 and takes effect from 1 January 2026. Gains that a private individual has realised since then on shares, bonds, funds, cryptocurrencies and investment gold are taxed as miscellaneous income at 10 per cent.
The tax applies to gains made in the normal management of private assets. Anyone trading professionally or speculating falls under other rules.
Is my gold covered?
Only investment gold is covered. For this, the law refers to the European VAT definition (Article 344(1) of Directive 2006/112/EC):
- Gold bars and wafers with a fineness of at least 995 thousandths, in a weight accepted by the bullion markets.
- Gold coins with a fineness of at least 900 thousandths, minted after 1800, which are or have been legal tender in their country of origin, and which are normally sold for no more than 80 per cent above the value of their gold. Think of the Krugerrand, the Maple Leaf and the Philharmoniker.
Gold jewellery is outside it. Rings, necklaces, bracelets and other jewellery gold are not financial assets within the meaning of this law. If you sell the jewellery from an estate, this capital gains tax does not apply to it.
How is the gain calculated?
The gain is the difference between the selling price and the acquisition value. For gold you already owned before 2026, the value on 31 December 2025 is the starting point: whatever the gold gained in value before that date remains untaxed. If your actual purchase price was higher than that value, the transitional rules allow you to use that higher purchase price until the end of 2030.
- Exemption: each year, a first band of about €10,000 in gains per person remains exempt. The amount is indexed.
- Carry-forward: if you do not use the full exemption, part of it carries over to later years, up to an exemption of at most about €15,000.
- Losses: losses on financial assets in the same year may be set off against gains.
What does this mean if you sell to us?
If you sell jewellery, this law changes nothing. If you sell bars or bullion coins, a taxable gain may arise, but only above the exemption and only for the rise in value since 1 January 2026.
With every purchase you receive a purchase receipt showing the date, weight, fineness, rate and the amount paid. Keep it, together with your original purchase invoices: they prove the selling price and the acquisition value. How to declare a gain in your personal income tax return is something to discuss with your accountant or the FPS Finance.
This is not tax advice. We are precious metal dealers, not tax advisers. This text reflects the position as of October 2026; implementing rules may still change. If in doubt, consult a tax adviser.
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Questions about Capital gains tax on gold in Belgium since 2026: what applies to you
Do I have to pay tax in Belgium when I sell gold?
Not on gold jewellery under the new capital gains tax. On investment gold, such as bars and coins like the Krugerrand, a 10 per cent tax on the gain has applied since 1 January 2026, above an annual exemption of about 10,000 euros per person.
Does the capital gains tax also apply to gold jewellery?
No. The law taxes gains on financial assets, which include investment gold: bars of at least 995 thousandths and certain bullion coins. Gold jewellery is not included.
Is the rise in value before 2026 also taxed?
No. For gold you already owned, the value on 31 December 2025 is the starting point. Only the rise after that counts. If your purchase price was higher than that value, you may use the purchase price until the end of 2030.
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Sources
Where you can verify what you have just read.
- LBMAThe London gold and silver price our daily rate is built on
- WaarborgHollandThe Dutch assay office that verifies fineness and strikes hallmarks
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