Tax shift

Budget 2017: impact on the non-regulated savings accounts, the current accounts and the investments products

  • Withholding tax

  • Stock exchange tax

  • Dematerialisation of securities

  • Taxation system


Based on information already available, you can hereby find a summary of the tax changes that came into effect.​​

Increase of the withholding tax from 27% to 30%

The Government has decided to submit the movable income “granted or paid” as from 01/01/2017 to 30% withholding tax.

The withholding tax on the income of regulated savings accounts (ING Lion Premium Savings Account, ING Lion Deposit, ING Orange Savings Account, ING Green Savings Account and ING Tempo Savings) is unchanged: 15% withholding tax, with exemption if the interests amount doesn’t exceed 1.880€/year per taxpayer (physical persons).

Click here for an overview of the withholding tax on the granted or paid income in force as from 01/01/2017.

The grant or payment date of movable income is defined as:

  • For deposits (current account, term account, regulated savings account…): it corresponds to the last day of the period to which the interests relate.

    Example: the. The potential credit interests of a current account (as “ING Green Account”) related to the period 01/01/2016-31/12/2016 are submitted to 27% withholding tax, even if they are effectively paid in January 2017.

  • For income of Belgian securities (bond, bank notes, State bond, stock…): it corresponds to the contractual maturity date of the interests or the date when the dividends could be cashed. The effective cashed date of Belgian movable income doesn’t play any role.

    Example: the coupons of a Belgian bond expired in 2016 are submitted to 27% withholding tax, even if they are effectively paid in 2017.

  • For income of foreign securities: it corresponds to the effective settlement date in Belgium of foreign movable income, i.e. the registration date on the account of the beneficiary.

    Example: a distribution of dividends is decided on 20/12/2016 during the General Assembly of an Italian company. The amount is credited on 06/02/2017 on the account of a shareholder of this company. The shareholder has his stocks at ING Belgium NV/SA and is submitted to 30% withholding tax.

Important remarks:

  • There is no pro rata rule. Example: an ING Long Term Account 1 year opened on the 01/07/2016 and coming to maturity on the 01/07/2017. The interests paid on the 01/07/2017 will be taxed at 30% for the whole period 01/07/2016-01/07/2017. There is no proratization that would calculate 27% for the period 01/07/2016-31/12/2016 and 30% for the period 01/01/2017-01/07/2017.
  • The withholding tax is still levied at source and liberating.

Removal of the tax on speculation

Since 01/01/2016, a 33% speculation tax has been applied to the capital gains realised on the "disposals for consideration" (that is to say for a sale or for certain securities transactions) of certain securities whose "acquisition of disposals for consideration" (that is to say the purchase or acquisition of certain securities transactions) took place less than six months before the date of transfer.

As from 01/01/2017, this tax is removed, without retroactive effect.

Stock exchange tax: Increase of the maximum amounts

As from 01/01/2017, the maximum amounts of the stock exchange tax will be multiplied by 2. An overview of the new rates and maximum amounts applicable as from 1st January 2017 is available hereunder:

Subscription
Normal charge 0%
Redemption or liquidation by the Sicav
Normal charge 0%
Public* capitalisation trust shares "sicav/bevek" (including trackers) 1.32% max. 4000 €
Purchases and sales (secondary market)
Normal charge 0.27% max. 1600 €
Public* capitalisation trust shares "sicav/bevek" (including trackers) 1.32% max. 4000 €
Public* distribution trust shares "sicav/bevek" (including trackers) 0.09% max. 1300 €
Public* trust certificates "FCP/GBF" (including trackers) 0.09% max. 1300 €
Belgian certificates of foreign shares 0.09% max. 1300 €
Bonds and Structured Notes with guaranteed capital 100% 0.09% max. 1300 €
Lineair Bonds (OLOS) 0%
Regulated Real estate Company (RREC) 0.09% max. 1300 €

*Public if registered with the FSMA

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