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What taxes do I have to pay?

Transaction tax (TOB): NO
Dividend tax: NO
Reynders tax: YES
Wealth tax: YES

The details


You will not have to pay the transaction tax (TOB or "beurstaks" or "taxe boursière") because the portfolios only work with index funds that are exempt from it.
You will not have to pay dividend taxes because all funds in the portfolios automatically reinvest dividends. This is called an accumulating fund.

On the other hand, there are two taxes which are mandatory.

1. Reynders tax


When you invest with Curvo, you might need to pay the Reynders tax in certain situations. This is a Belgian tax that applies only to profits from bond investments.

When does it apply?


The 30% tax applies only when:

We rebalance your portfolio (which includes selling some bonds)
We sell a portion of your investments to cover quarterly fees
You withdraw money from your investment

Important: The tax only applies to the profits from bond funds, not stock funds. This means if you're investing in the Growth portfolio (100% stocks), you won't pay any Reynders tax.

How it works


Let's say you invest €10,000 in our Energetic portfolio:

€7,000 goes into stock funds (70%)
€3,000 goes into bond funds (30%)

After a year, your investment has grown to €11,000:

Stock portion: €7,800
Bond portion: €3,200

If you withdraw everything, you've made €200 profit on your bond funds. The Reynders tax will be €60 (30% of €200).

How to pay it


You'll need to include this tax in your yearly personal tax declaration. For example, if you make a withdrawal in 2025, you'll declare it in your 2026 tax form.

Don't worry, we'll guide you through it:

We'll tell you exactly which amounts to declare
We'll provide step-by-step instructions on which line to fill in (see for example the instructions for the 2024 tax declaration)
The whole process takes about a minute to complete

2. Wealth tax on investment accounts over €1,000,000


The wealth tax ("taxe sur les comptes-titres" or "effectentaks") is applicable to anyone who has more than €1,000,000 held on investment accounts and equals to 0.15% of the total value. Note that you're still liable to this tax if the average of your investment accounts, calculated at several periods during the year, is above €1m.

If you're fortunate to have that amount of money, let us know and we will help you with its declaration.

The above information is general in nature and is made available for informational purposes only. The information displayed should in no way be considered as personal tax advice. The above information is based on sources deemed reliable by the author. However, Curvo in no way guarantees the accuracy or completeness of this information and cannot be held liable for any direct or indirect damage that may arise as a result of its inaccuracy or incompleteness. This information is subject to possible changes in legislation and tax treatment. The final tax treatment depends on your personal situation.

Updated on: 21/05/2025

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