FAQ

Frequently asked questions

About the capital gains tax, about MeerwaardeTool and about how to export your transactions from your broker. The legal details are on the From law to figure page.

Tax and law

What is the capital gains tax?

Since 1 January 2026, Belgian retail investors pay 10% tax on the capital gains they realise on financial assets such as shares, ETFs and funds. The first €10,000 per year is exempt.

For what you already held before 2026, only the gain after 31 December 2025 counts. MeerwaardeTool calculates what you owe under the law and shows the difference between opt-in (everything at the 31/12/2025 reference price) and filing yourself (the most favourable basis per position), so you see which choice costs you least.

What's the difference between opt-in and opt-out?

With opt-in, your Belgian bank or broker withholds 10% on every sale at a gain. It ignores your exemption, your losses and a higher historical purchase price, so it often withholds too much. You reclaim that through your tax return.

With opt-out, nothing is withheld and you declare the gains yourself. The choice applies per securities account. A foreign broker such as DEGIRO or MEXEM never withholds: there you always declare yourself.

Doesn't my bank calculate the tax automatically?

Partially, and only a Belgian bank or broker under opt-in. It withholds 10% and gives you a tax certificate, but ignores your exemption, your losses and your positions at other brokers. Anything withheld in excess you reclaim yourself through your tax return.

I use a foreign broker. Does the tool help?

Yes. A foreign broker withholds no Belgian capital gains tax and files nothing for you. Some, such as DEGIRO, do provide a yearly document with information on your gains, but it is not a Belgian tax certificate and the tax return remains your responsibility. MeerwaardeTool imports your transactions from DEGIRO and MEXEM directly, from other brokers through the CSV wizard, and calculates what you need to declare.

How does the annual €10,000 exemption work?

The first €10,000 of gains per year is exempt (the amount for 2026, indexed after that). The first €1,000 slice of that exemption can be carried forward: whatever of it you do not use in a year is added to your exemption the next year. If you use €200 in 2026, for example, you carry €800 to 2027; if you use €1,000 or more, you carry nothing. You can use at most €5,000 of carried-forward exemption per year, so in a single year you exempt at most €15,000 in total.

You claim the exemption through your tax return; a bank that withholds does not apply it. MeerwaardeTool tracks your exemption and what you build up, year by year.

Is the exemption per person or per household?

Per person. In a joint tax return each partner is entitled to their own exemption, for the gains he or she declares. For a couple with joint assets you set up two exemptions in MeerwaardeTool.

Can I offset losses against gains?

Yes, within the same year and within the same category. A loss you cannot offset that year is lost: carrying it forward to a later year is not possible. MeerwaardeTool offsets automatically.

How does the snapshot of 31 December 2025 work?

For securities you already held before 2026, the value on 31 December 2025 counts as the purchase value; only the gain after that date is taxable. If your actual purchase price was higher, you may use it for a sale up to the end of 2030. MeerwaardeTool applies this automatically.

What is FIFO and why does it matter?

First in, first out: in a sale, the oldest units count as sold first. That decides which purchase price applies and so how large your taxable gain is. FIFO runs per securities account, even for two accounts at the same broker. MeerwaardeTool applies it automatically.

Can I deduct transaction costs and stock-exchange tax?

No. Brokerage fees, transaction costs and the stock-exchange tax do not count: the gain is calculated on the gross purchase and sale price. MeerwaardeTool calculates the same way.

My bank withheld too much. How do I get it back?

Through your tax return for the year of the sale, with your supporting documents. No tax return, no refund.

MeerwaardeTool shows your tax in both filing modes. What your bank actually withheld is on its tax certificate; you reclaim the difference with what you actually owe.

The tool

Is MeerwaardeTool a registered tax-advisory firm?

No. MeerwaardeTool is a calculation tool, not tax advice. You can export a PDF of your year-end overview, but you file the return itself through Tax-on-web or through your tax adviser. For a complex situation we recommend consulting a tax specialist. The return remains your own responsibility.

Which investments can I enter?

Shares, ETFs (trackers), funds, bonds and crypto. You load crypto through the CSV wizard.

Bonds are imported, but the interest part of a redemption is not split off yet. Options and short positions are recognised in MEXEM statements; you can also enter options manually. Physical investment gold cannot be registered as a security yet; an exchange-traded gold ETC can, as an ETF.

Can I combine several brokers and accounts?

Yes. You import each broker and each account separately. MeerwaardeTool adds everything up for your exemption and your losses, and applies FIFO per securities account, as the law requires.

I hold shares from before 2026. Do I need to do anything special?

Import your transactions from your first transaction at each broker, at the very least from the first purchase of every position you still hold or sold in this tax year. MeerwaardeTool takes the value on 31 December 2025 as the purchase value and uses your historical purchase price when that is more favourable.

Can I simulate a sale first?

Yes. In the sale simulation you choose which positions you would sell. You see in advance how much of your exemption you use and how much tax you pay, with tips for that sale. You can switch between 'Broker-filed' and 'Self-filed' to see the tax in each filing mode.

Do I get an overview for my tax return?

Yes. You export your year overview as a PDF. It helps you fill in your tax return but is not an official document: you file the return itself through Tax-on-web or through your tax adviser.

Does MeerwaardeTool work on my phone?

Yes. MeerwaardeTool runs in your browser, on your computer, tablet and phone. There is nothing to install.

Import per broker

How do I export my transactions from Saxo Bank?

MeerwaardeTool reads the detailed transaction report from Saxo Bank: an Excel file with a sheet 'Transacties' and a sheet '_Transacties' (in English: 'Transactions' and 'Trades'). The report without details (a single sheet) and the positions overview cannot be imported; the tool tells you if you upload such a file.

An export in Dutch or in English both work.

Steps

  1. Log in to Saxo Bank and open your account reports.
  2. Choose the transaction report. Set the period from your first transaction at that broker until today. At the very least from the first purchase of every position you still hold or sold in this tax year.
  3. Export to Excel and choose the version with details.
  4. Check that the file has both sheets.
  5. In MeerwaardeTool, choose 'Import from broker', then Saxo Bank, and upload the file.

How do I export my transactions from DEGIRO?

MeerwaardeTool reads the DEGIRO Account statement, the file Account.csv. The 'Transactions' export and the positions overview cannot be imported; the tool tells you if you upload such a file.

Steps

  1. Log in to DEGIRO and open the Inbox.
  2. Choose Account statement.
  3. Set the period from your first transaction at that broker until today. At the very least from the first purchase of every position you still hold or sold in this tax year.
  4. Export as CSV. You get the file Account.csv.
  5. In MeerwaardeTool, choose 'Import from broker', then DEGIRO, and upload Account.csv without opening it in Excel first.

How do I export my transactions from MEXEM?

MeerwaardeTool reads the MEXEM Activity Statement as CSV. The Transaction history cannot be imported; the tool tells you if you upload such a file.

Steps

  1. Log in to MEXEM and open your reports.
  2. Choose the Activity Statement, not the Transaction history.
  3. Choose one year as the period and CSV as the format. If you have more than one account, a consolidated statement works too.
  4. Repeat this for every year from your first transaction at that broker until today. At the very least from the first purchase of every position you still hold or sold in this tax year.
  5. In MeerwaardeTool, choose 'Import from broker', then MEXEM, and upload the files one by one, oldest year first.

How do I load my own CSV file?

For a broker without automatic import, or for crypto, use the CSV wizard. It reads a simple CSV file with one row per purchase or sale.

Steps

  1. Create a CSV file with these columns: date, ticker, name (optional), type, quantity, price per unit and currency.
  2. Write the date as YYYY-MM-DD, the type as Buy or Sell, numbers with a dot as the decimal separator and the currency as a three-letter code such as EUR or USD.
  3. Always use the same currency for one instrument.
  4. In MeerwaardeTool, choose 'Hand-made CSV' and upload the file. The wizard recognises the columns automatically, including Dutch column names such as datum, aantal, koers and valuta; anything it does not recognise, you map yourself.
  5. Check the overview and import.

Can I enter transactions manually?

Yes. For each transaction you enter the date, the instrument, buy or sell, the quantity, the price per unit and the currency. Useful for a broker without an export, or to add a single transaction.

I transferred shares from another broker. What now?

In a transfer, your broker shows the market value on the day of the transfer, not what you originally paid. MeerwaardeTool therefore does not take over that value: you get a message to add the position manually with your original purchase date and purchase price.

Why does the amount in euros differ from my broker's?

MeerwaardeTool converts every purchase and sale in a foreign currency at the European Central Bank reference rate on the day of the transaction. Your broker uses its own exchange rate, often with a margin.

On top of that, MeerwaardeTool leaves out costs and stock-exchange tax, because you may not deduct them. A small difference with your broker's overview is therefore normal and not an error.

Price and account

What does MeerwaardeTool cost?

€39 per year, VAT included. Everything is included: the import, unlimited transactions, the calculation, the sale simulation and the year overview.

How do I cancel my subscription?

In your account settings, in the payment portal. The cancellation takes effect at the end of your current subscription year; until then you keep access. Without cancellation your subscription renews automatically every year.