Recently, several modifications of the Belgian Stock Exchange Tax regime (TOB/beurstaks) have been enacted. For recall, this tax generally applies to secondary market transactions (with the exception of redemptions of own units by certain investment funds) concerning certain financial instruments entered into by Belgian investors, be it through a Belgian or a foreign financial intermediary.
The recent modifications notably include:
- A new exemption available for transactions carried out in the framework of liquidity contracts;
- As from 8 January 2018, an increase of the rates of 0,09% and 0,27% to 0,12% and 0,35%, respectively (the rate of 1,32% and the various taxation ceilings remain unchanged);
- As from 1st January 2018, the application of the lowest rate (0,12% since 8 January 2018) to transactions relating to units of (non-Belgian) EEA funds registered with their local regulator and not with the Belgian regulator, irrespective of whether these transactions concern accumulating units.
These modifications are rather technical (e.g. cross-references to the Belgian companies code and the regulatory framework) and could have important operational consequences. Therefore, our recommendation to the taxpayers and market players concerned would be to further investigate the potential impact of these modifications on their situation.
Of course, we remain at your disposal should you require assistance in this framework.