The stock exchange tax, or Tax on Stock Exchange Transactions (Taks op Beursverrichtingen "TOB"), is a tax that you, as a resident of Belgium, are required to pay when carrying out a securities transaction. The amount of tax payable depends, among other things, on the type of investment and the size of the order.
"}},{"componentType":"paragraph","richBody":{"value":"What does this mean for you as an investor?
If, as a resident of Belgium, you invest in certain securities via a foreign bank or other financial institution, you are liable for the stock exchange tax. Different rates apply to different types of investments. For more information, we recommend contacting the Belgian tax authorities.
Which persons are subject to this legislation?
The new legislation applies to all natural persons who are resident in Belgium, or to legal entities that place stock exchange orders from their place of establishment in Belgium.
Have you received a letter, but you are not liable for tax in Belgium?
Our apologies for having sent you the letter incorrectly. We send overviews to everyone living in Belgium who has an investment account. If you are not liable for tax in Belgium, you do not need to file a return. You can call +31 20 22 888 88 to stop the overviews from being sent.
When do you have to pay?
You are required to file the tax return yourself and pay the stock exchange tax. You must do so no later than the last working day of the second month following the month in which the transactions were carried out. It is also possible to file a return once every two months. For example, you can submit a single return for the months of June and July no later than 31 August.
How do you file a return and pay tax?
1. Check our overview
For investment funds, we assume that they are not registered with the FSMA, the Belgian supervisory authority. ING cannot state with certainty whether investment funds appear on the FSMA list, as this list does not use so‑called ISIN codes. Because fund names may vary, the ISIN code is the only watertight way to determine with 100% certainty whether a fund is included on the list or not. You can check on the FSMA website yourself whether an investment fund is indeed not listed.
2. Complete the form from the Belgian tax authorities and submit it
You can download the declaration form via this link.
3. Transfer the total amount
Make sure that the amount is credited to the account of the Belgian tax authorities no later than the last working day of the second month following the month in which the transactions were carried out.
"}},{"componentType":"paragraph","richBody":{"value":"What are reversals (stornos) and how should you deal with them?
This means that a transaction was reversed or corrected during this period. If the reversal and the original transaction took place in the same period for which you are filing a return, you generally do not need to report them. If you included a reversed transaction in a previous return, you may not offset it and will need to submit an objection.
The reversal amount shown in the reversal table is almost always negative. This means you will receive money back. If the reversal amount is positive, you will need to pay this amount. You can do this in the same way as explained earlier, but you should now add the amount to the figures in the summary.
If a reversal appears in your overview, you can follow these steps:
1. Check the fund that was reversed and the date.
2. Look up the transaction in the transaction overview.
Can you find the transaction, and is it from the same month and for the same amount? If so, the transactions cancel each other out. If the reversal offsets an earlier transaction, it is important that you deduct this instrument subject to tax in the summary under the rate that applies to the transaction.
If you cannot find the transaction, or does the amount and/or date differ? In that case, the reversal remains unchanged.
If the reversal does not offset an earlier transaction, you must submit an objection to the Belgian tax authorities in order to recover the tax amount.
How do you submit an objection?
Send the objection, including your personal details, a copy showing your payment to the Collection Office in Belgium, and the transaction overviews, signed, to the Collection Office in Belgium. In addition, we recommend making two copies of the documents: one for your own records and one to send to your local tax office in Belgium. Any overpaid tax will be automatically refunded to your current account by the Belgian tax authorities. If you have not received a decision on your objection within six months, you may lodge an appeal. You have two years to submit an objection.
"}},{"componentType":"paragraph","richBody":{"value":"Where can you find more information?
Do you have any questions after reading this message? Please contact the Belgian tax authorities or visit the website of the Federale overheidsdienst Financiën van België. There you will find more information on this topic.
"}},{"componentType":"paragraph","richBody":{"value":"What does this service cost?
This service is currently free of charge.
"}},{"componentType":"paragraph","richBody":{"value":"When will you receive the statements?
Every month, approximately two weeks after the end of the month. You will not receive an overview if no transactions took place in that month.
"}},{"componentType":"paragraph","richBody":{"value":"Can ING make the tax payment for you?
No, this is the responsibility of the taxpayer. ING supports you by providing the necessary overviews.
"}},{"componentType":"paragraph","richBody":{"value":"To what extent does ING help me optimise my investment portfolio in relation to the tax payable?
ING offers various investment products. These products are carefully put together. This is separate from any laws and regulations in different countries under which taxes may be levied on transactions.
Does your overview contain any errors?
Our apologies for this. Although this information has been compiled with the greatest care, it is still possible that the overview contains inaccuracies or omissions. You are responsible for checking the information and filing the stock exchange tax return. Please let us know what you believe is incorrect, so we may be able to adjust this in future overviews. You can contact us by phone at +31 20 22 888 88.
"}},{"componentType":"paragraph","richBody":{"value":"When you multiply the number of units by the transaction amount, you arrive at a different amount than the one stated by ING. How is this possible?
This can happen. We round the number of units to two decimal places, which may result in small differences. In addition, where applicable, the price is shown in the currency in which the instrument is listed. The total amount is converted back to euros.
Disclaimer
Although this information has been compiled with the greatest care, it is still possible that the overview contains inaccuracies or omissions. ING Bank N.V. is not responsible for the consequences of using the information provided. We would like to point out that you are responsible for checking the accuracy of the data provided and for filing the tax return.
*This translation is intended for the customer’s convenience only. In the event of any inconsistency between the English translation and the original Dutch version, the original Dutch version shall prevail.
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