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Don’t forget about the opt-in for the tax on securities accounts!

Published on:

07/09/2019

You will surely have noticed the question concerning the tax on securities accounts on your most recent tax return. Using the new code 1072/2072, among other means, the tax authorities are checking whether the tax on securities accounts is being paid correctly.

If the average value of your investments in all your securities accounts amounts to 500,000 euros or more, you must pay the tax on securities accounts. In the event that all your investments are held in one securities account, the bank will automatically deduct the tax of 0.15%.

It gets a little more complicated if you hold several securities accounts at different banks. If these accounts have an average value of more than 500,000 euros in total, you have two options. You either declare the payment of the tax yourself on your tax return. or you ask your banks to opt in. In the latter instance, your banks will deduct the 0.15% and you avoid having to declare the taxable amount to the tax authorities yourself.

If you have an average value of less than 500,000 euros, no tax on securities account is due. and no opt-in is required. However, there is a reporting obligation towards the tax authorities concerning your securities accounts.

In practice

At Keytrade Bank, you can request an opt-in by depositing the amount of the tax due in the bank's account. You can find instructions on how to do so in your overview concerning the tax on securities accounts, which you can expect to receive from us in early October.

If you would like to know more about the tax on securities accounts, please see our frequently asked questions.

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