TOB Rates and Caps in 2026: The Complete Reference Guide
A detailed breakdown of all Belgian stock exchange tax rates and maximum caps by security type.
Understanding TOB Rate Categories
Belgium's stock exchange tax (TOB/Beurstaks) uses a tiered rate system. The rate you pay depends entirely on what type of security you're trading, not where you're trading it.
Complete Rate Table for 2026
| Category | Rate | Maximum Cap | Examples |
|---|---|---|---|
| Stocks | 0.35% | €1,600 | Apple, Microsoft, AB InBev |
| ETFs (distributing) | 0.12% | €1,300 | VWRL, SPYD, SCHD |
| ETFs (accumulating, non-Belgian) | 0.12% | €1,300 | IWDA, CSPX |
| ETFs (accumulating, Belgian) | 1.32% | €4,000 | Rare, most are IE/LU domiciled |
| Bonds | 0.12% | €1,300 | Government and corporate bonds |
| REITs/GVV-SIR | 0.35% | €1,600 | Belgian real estate funds |
| Structured products | 0.35% | €1,600 | Turbo's, certificates |
How Caps Work
The cap is the maximum tax you pay per transaction, regardless of the transaction size.
Example: Large Stock Purchase
You buy €500,000 worth of Apple stock:
- Calculated TOB: €500,000 × 0.35% = €1,750
- Cap applies: You pay €1,600 (not €1,750)
Example: Small ETF Purchase
You buy €10,000 worth of IWDA:
- Calculated TOB: €10,000 × 0.12% = €12
- Cap (€1,300) doesn't apply: You pay €12
ETF Domicile: Why It Matters
The 1.32% rate only applies to Belgian-registered accumulating funds. Most popular accumulating ETFs are domiciled in Ireland or Luxembourg.
Check the ISIN Prefix
| ISIN Prefix | Country | Typical Rate |
|---|---|---|
| IE | Ireland | 0.12% |
| LU | Luxembourg | 0.12% |
| BE | Belgium | 1.32% (if accumulating) |
| DE | Germany | 0.12% |
| FR | France | 0.12% |
Popular ETFs and Their Rates
| ETF Name | ISIN | Domicile | Rate |
|---|---|---|---|
| iShares Core MSCI World (IWDA) | IE00B4L5Y983 | Ireland | 0.12% |
| Vanguard FTSE All-World (VWCE) | IE00BK5BQT80 | Ireland | 1.32% |
| iShares S&P 500 (CSPX) | IE00B5BMR087 | Ireland | 0.12% |
| Vanguard FTSE All-World Dist (VWRL) | IE00B3RBWM25 | Ireland | 0.12% |
| Xtrackers MSCI World (XDWD) | IE00BJ0KDQ92 | Ireland | 0.12% |
Note: Despite its Irish ISIN (IE), VWCE (IE00BK5BQT80) is registered on the Belgian FSMA list, which triggers the higher 1.32% accumulating fund rate. Always check the FSMA register, not just the ISIN prefix.
Cryptocurrency and TOB
Crypto assets themselves are not subject to TOB. However:
- Crypto ETPs/ETNs are subject to TOB (0.35%)
- Stock tokens representing actual shares are subject to TOB
Currency Conversion
For non-EUR transactions, convert using ECB reference rates on the transaction date.
Belgian Tax Calculator automatically applies official ECB rates for all currency conversions.
Rate Changes History
| Year | Major Changes |
|---|---|
| 2024 | Caps increased |
| 2023 | No changes |
| 2022 | Rate confirmation |
| 2021 | 1.32% cap raised to €4,000 |
How Belgian Tax Calculator Helps
Our platform:
- Automatically identifies security types
- Looks up ISIN domicile for ETFs
- Applies correct rates and caps
- Handles multi-currency portfolios
Try it free: your first TOB calculation takes under 5 minutes.