The price of Bitcoin, the famous cryptocurrency, has reached records since the American elections. This digital currency is gaining more and more fans in Belgium and our country is considered a tax haven. Investing in cryptocurrency can be much more advantageous than with our neighbors.
Investing in cryptocurrency is an increasingly easy and attractive approach. More than 5% of Belgians have already taken the plunge, particularly because this type of investment in Belgium can bring big returns.
In Europe, a large majority of countries impose a capital gains tax on the resale of your cryptocurrency. Others, such as Switzerland or Slovenia, impose nothing. In Belgium, the tax varies between 0 and 50%. “It’s true that the tax system here is more advantageous for someone who invests as a ‘good father’”explains Xander Vlassenbroeck, financial journalist at the Echo. “If you invest over the long term and make a capital gain on cryptocurrencies, it will be taxed at 0%. On the other hand, if you deal, you buy, you sell, you do a lot of transactions, there it can be in the category of miscellaneous income and there it is 33%. »
No law
But why such a big range and not more precision? In reality, Belgium, like other European countries, has never legislated on the added value of cryptocurrencies. “We are still relying on laws which date from the 90s and which were applied to other types of income”, continues Xander Vlassenbroeck. “So, it’s true that for the moment, it’s still an advantage for investors compared to other European countries in particular. »
A paradoxical situation, especially when cryptocurrencies reach records, as at the moment with bitcoin. Faced with this surge in prices and capital gains, more precise taxation is being considered. “In the last super-note from Bart De Wever, there was precisely the question of making cryptocurrencies like foreign accounts, of putting them in this same category. This is a possibility mentioned in the formation of the new government. But for the moment, we don’t yet know if it will evolve at this level. »
Today, for small occasional investments, you do not have to declare your income. It is therefore impossible to estimate the total figure for capital gains made in Belgium.
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