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Keytrade new Tax on shares

  • 30-11-2016 5:15pm
    #1
    Reyman
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭


    I'm wondering does anyone else have an account with Keytrade in Belgium? I ask because this bank has introduced some strange punitive rules on taxation lately and I'm concerned about leaving any money with them from now on.


Comments

  • #2
    alb
    Registered Users, Registered Users 2 Posts: 1,259 ✭✭✭alb


    I do, but I've gradually been moving to degiro. What exactly is the new tax? is it only when buying shares?


  • #3
    Reyman
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭Reyman


    They have been talking a lot lately about new tax laws in Belgium and I have tended to ignore their badly translated volumes of documentation on the issue.
    Anyway I'm now trying to sell Ryanair shares I bought at a low price a couple of months ago and they intend applying CGT of around 40% if I sell within 6 months of buying. The crazy thing is they don't allow you to offset losses against the gain.
    This may be the thin edge of the wedge for more Belgian taxes on any gains whatsoever so I'm thinking of bailing out. Any views on this?


  • #4
    alb
    Registered Users, Registered Users 2 Posts: 1,259 ✭✭✭alb


    Oh yeah I remember noting that point among the all the new notifications. I thin it puts a little warning symbol beside the ones in your portfolio that are within the 6 month period. Doesn't bother me as everything I've bought there is already 6 months old now, and I don't intend on buying any more there because the fees are way higher than degiro, so I see no advantage.


  • #5
    daheff
    Registered Users, Registered Users 2 Posts: 5,934 ✭✭✭daheff


    Reyman wrote: »
    They have been talking a lot lately about new tax laws in Belgium and I have tended to ignore their badly translated volumes of documentation on the issue.
    Anyway I'm now trying to sell Ryanair shares I bought at a low price a couple of months ago and they intend applying CGT of around 40% if I sell within 6 months of buying. The crazy thing is they don't allow you to offset losses against the gain.
    This may be the thin edge of the wedge for more Belgian taxes on any gains whatsoever so I'm thinking of bailing out. Any views on this?

    Why not transfer the shares to a different broker then (outside Belgium)?


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