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Speculation tax
I made a little money playing shares. I held them less than 6 months. Lo and behold when I logged into my homebank I saw that I had been subject to a Speculation Tax
33% had been deducted. I guess I am ok with this - my question though is, what do I do with regards to my tax return? I have already paid the tax now - it was deducted from my profit.
In a sense I am relieved that I am paying taxes on my gain, but should this be reported on the tax return - if so, where?
I would be very grateful for any responses to this
Thank you
The capital gains have only be subject to tax because you held the shares for less than 12 months - and I believe even that tax will cease to exist in the future.
Usually income like this that has already been subjected to the appropriate withholding tax doesn't have to be declared, but you will have to read the appropriate section in the booklet that accompanies the tax return when you receive it next spring to be absolutely certain.
The capital gains have only be subject to tax because you held the shares for less than 12 months - and I believe even that tax will cease to exist in the future.
Usually income like this that has already been subjected to the appropriate withholding tax doesn't have to be declared, but you will have to read the appropriate section in the booklet that accompanies the tax return when you receive it next spring to be absolutely certain.
It is for gains made in buying and selling within 6 month period.
As the tax has been paid, you don't need to declare the gains.
A useful description here:
https://www.nagelmackers.be/fr/notre-vision/actualites/detail/la-taxe-de...
"Lorsque la plus-value est réalisée à l’intervention d’un intermédiaire financier établi en Belgique, celui-ci doit opérer un prélèvement à la source de la taxe. Cette retenue est libératoire, ce qui signifie que la plus-value ne doit plus être mentionnée dans la déclaration fiscale."
i.e. as the tax has already been witheld, you do not need to declare the gains
