Home » News » Government agrees on new securities tax

Government agrees on new securities tax

October 30, 2020

13:20

The De Croo government has an agreement on the introduction of a new securities tax. The bill from Minister of Finance Vincent Van Peteghem will now go to the Council of State.

The CD&V Deputy Prime Minister has accelerated the tax world. While statements by various Vivaldi party chairmen suggested that he would not have to come up with a proposal for a ‘strong shoulder tax’ until the budget control of March 2021, Van Peteghem immediately took the case to himself and put experts on it. That is what it says on his cabinet. “It is a joint file of all government partners,” is subtly remarked by another Vivaldi party.


The government can use the money well. Another package of additional corona support measures will be approved later today.

That speed has everything to do with the corona crisis, which is raging in full force. Now that the eyes of the government parties and the outside world are completely focused on corona, it is easier to get a very controversial tax vehicle sold politically. Certainly the fact that the proceeds must go to health care proves to be a golden move.

It is not without reason that the term solidarity contribution has emerged from the tubes of the spin doctors of the Vivaldi parties. Green chairman Meyrem Almaci used that word for the first time in a newspaper interview. The corona twist that is given to them makes them salable to the liberals – who are ideologically most strained with this tax on wealth. Moreover, the government can make good use of the money. Later in the day, another aid package is announced, now that the country is further locked. That will again cost hundreds of millions, can be heard in the government.

Officially, the new solidarity contribution must yield between 250 and 300 million euros. According to tax experts – but also government sources – that will increase. Bloom Law attorney Denis-Emmanuel Phillipe estimates the expected proceeds at 600-700 million. The scope of the securities tax 2.0 is being expanded considerably. More products are coming into the picture and the securities accounts of companies are being targeted. Registered shares remain exempt, which should allow most SME executives to escape.

The tax is levied on securities accounts of more than 1 million euros. It is precisely this threshold that remains the major source of legal uncertainty. According to lawyer Philippe, there is a risk that the Constitutional Court will consider this arbitrary.

The advice of the Council of State will soon be the first indication of whether the securities tax 2.0 is viable or whether it will become yet another tombstone in the cemetery of failed tax vehicles.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.