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BRUSSELS (Reuters) -Belgium will introduce capital gains tax on financial assets, such as shares and cryptocurrencies, its finance minister said, bringing it into line with its European peers. Belgium was one of the few European countries that did not tax capital gains on most financial assets for individual investors. Income tax in the country, however, is high at up to 50%. Finance Minister Jan Jambon said in a statement on Monday the new system would impose a 10% tax on capital gains from financial assets. He added in a post on social media platform X that the change would provide funds to reform pensions, enforce stricter migration policies, and increase investment in defence. The new tax will apply when gains are realised, such as through a sale, and will only apply to profits made after the new system takes effect. A spokesperson for Jambon said that will be from January 1, 2026, confirming newspaper reports. Everyone will be entitled to an exemption for the first 10,000 euros ($11,785.00) of gains per year, or an annual limit of 15,000 euros for those without capital gains in the previous five years. "This way, we offer maximum protection to long-term small investors," Jambon said. Additionally, for those holding a stake of at least 20% in any company, a reduced, progressive tax rate will apply, with a 1 million euro exemption per five-year period. Pension savings products and group insurance plans will be fully exempt from this tax. ($1 = 0.8485 euros)

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