From January 1, 2026, Belgium will introduce a new tax on capital gains realized on the resale of physical gold. This reform affects individuals and investors who wish to buy or sell investment gold: gold bars, gold coins, or physical gold in general.
At Agence de l'Or, we help you understand this tax system so that you can sell your gold with complete transparency.
Who will have to pay the tax on capital gains from gold in 2026?
Taxation applies only to:
- Physical gold
- Gold bars
Investment coins (Napoleon, Krugerrand, Maple Leaf, Philharmoniker, etc.)
This tax applies only if you make a profit on the resale.
No retroactivity
Capital gains realized before January 1, 2026 are not taxed. Only the increase in the value of gold after that date is included in the calculation.
What is the capital gains tax rate on gold?
Fixed rate: 10%
The tax is applied only to the capital gain, never to the total sale price.
Annual allowance: €10,000 per person
If your annual income is less than €10,000, you do not pay any tax.
This rule makes the measure relatively advantageous for small and medium-sized investors.
How to calculate capital gains on gold in Belgium?
The official formula is: Capital gain = sale price – reference price
For gold acquired before 2026, you can use either your actual purchase price (if you have proof of this), or the official value set on December 31, 2025, which is €118.02 per gram.
Very important: price increases before December 31, 2025 are never taxed.
Concrete example: how much will you pay?
In 2026, you sell a gold bar purchased in 2020.
Value as of December 31, 2025: €118.02/g
Sale value in January 2026: €125/g
Taxable gain: €6.98/g
The 10% tax applies only to the €6.98, not to the entire value of the ingot.
If your total capital gain is less than €10,000, the tax = $0.
Declaration: who pays and how?
Unlike banks, L’Agence de l’Or does not deduct any withholding tax when you resell your gold. This means that you receive 100% of the transaction amount, with no immediate deductions. The tax aspect comes into play afterwards: it is up to the customer to declare any capital gains in their annual tax return. To facilitate this process, we systematically provide all the necessary supporting documents, ensuring complete transparency.
Our mission is to provide clear, honest, and accurate information so that every customer can sell their gold with confidence.
With regard to specific cases, certain categories have not yet been definitively incorporated into the legislation. Gold jewelry is not explicitly mentioned and therefore remains exempt to date. Similarly, metals such as silver and platinum have not yet been clearly included in the scope of the tax, which also means they are not affected for the time being. At Agence de l'Or, we closely monitor regulatory developments in order to inform our clients in real time as soon as new official details are published.
The key message for all gold owners is simple: the tax only applies to gains realized after 2025, not to the total value of the gold sold. Thanks to the annual allowance of €10,000 per person on capital gains, the majority of individuals will not be taxed in practice. This reform is intended to be balanced and provides a measured tax framework that protects both investors and small savers.
Why trust the Gold Agency?
At Agence de l'Or, we put our expertise in buying and reselling physical gold at the service of each customer. Our priority is to guarantee a secure, transparent, and advantageous experience. We offer some of the most competitive prices on the market, with no surprises or hidden fees, and we provide complete transparency on taxation, particularly with the arrival of the new capital gains tax in 2026.
If you would like to receive an accurate estimate, please do not hesitate to contact us. We offer a free, no-obligation assessment, always with the same goal in mind: to provide you with the best possible information and support.