Entry into force
The annual tax on securities accounts (TSA) enters into force on 26 February 2021, the day following its publication in the Belgian Official Gazette. An exception is however made for the anti-abuse provisions that take effect as from 30 October 2020.
First reference period: 26 February 2021 –
30 September 2021
The TSA is due when the average value of the assets held in the securities account exceeds the amount of €1.000.000 during the reference period. In principle, the reference period starts on 1 October and ends on 30 September of the following year. Given the entry into force per 26 February 2021, the first reference period starts on 26 February 2021 and ends on 30 September 2021.
In principle, the average value is assessed on the basis of the value of the assets on 4 reference points. The average value for the first reference period will (exceptionally) be assessed on the basis of 3 reference points: 31 March 2021, 30 June 2021 and 30 September 2021.
Several questions about the application of the TSA are left unanswered. We will follow up on the developments and will keep you updated!