A smaller meeting of the cabinet ministers is set to convene on Sunday evening at 20:00 in a renewed effort to reach an agreement on the capital gains tax, Belga reports.
Vice-Prime Minister Maxime Prévot of Les Engagés, who has returned from Chile, will be in attendance. The capital gains tax has caused friction within Bart De Wever’s government for weeks. The aim is to make wealthier individuals contribute more to Belgium’s budgetary efforts by taxing profits from the sale of financial assets such as stocks and bonds.
The proposal persuaded the Flemish socialists of Vooruit to join the majority after months of tense discussions on this issue. Now, the resolution of several matters hinges on the implementation of this measure.
Progress was made on Friday after a long day of talks, but no agreement was reached, partly because Maxime Prévot was stuck in Chile. With the Foreign Minister returning home early on Sunday, he will attend the vice-prime ministers’ meeting on Sunday evening. Discussions might continue into the night, Belga has learned.
Current details suggest that the capital gains tax is expected to generate €250 million next year and €500 million annually once fully implemented. The tax will impose a 10% levy on profits from the sale of financial assets, with a €10,000 exemption to protect small investors. Taxpayers with at least a 20% stake in a company will be exempt up to €1 million, after which the tax will be applied progressively.
