In July 2017, Belgian government announced the introduction of a new tax on securities accounts. Birdee portfolios fall within the scope of this new law.
The annual tax of 0,15% will apply on all the securities accounts as soon as they reach or exceed 500,000 euros.
In all likelihood, the rate of 0.15% will be applied to the average value of the relevant securities accounts from the first euro. It is not possible to evade tax by opening several accounts or placing money abroad. Investors will indeed have to mention in their tax declaration if they have one or more securities accounts.
In practice, the financial intermediaries will keep the valuation of the securities account at the end of each month. The tax will be calculated on the average of these valuations. You will be responsible to mention all the securities accounts that you hold in your personal tax return.
As part of your Birdee portfolios, we will calculate your monthly average values and the annual 0.15% to collect. The details of the calculation will appear in your annual tax report directly on the application. We will also inform you about the concerned section of the tax return.
There is no impact on your 2017 tax return.