Financial Institutions as Data Collectors
1. Expanded Reporting to the CPC
From 1 December 2026, financial institutions must report all securities account openings, closings, and balances to the Central Point of Contact (CPC). Initial reporting will cover balances as of 30 June 2025, 31 December 2025, and 30 June 2026.
2. Data Mining and CPC Access
The CPC would be used for anonymous data mining to select audit files, integrate foreign financial data, and include online gambling accounts exceeding EUR10,000. Financial institutions must ensure data accuracy. However, it is unsure whether this proposed measure will actually be implemented because of a critical advice of the Belgian Privacy Commission (to be followed-up).
3. Annual Tax on Securities Accounts
The 0.15% tax rate remains unchanged, but additional anti-abuse rules are introduced. ‘Suspicious’ conversions of securities on a taxable securities account into nominative securities that are no longer held in a (taxable) securities account or transfers of securities from a taxable securities account to another (non-taxable) securities account, will be presumed abusive unless justified by the taxpayer. Financial institutions will need to report such transactions to the Belgian tax authorities or face fines.
4. UBO Register Access
Financial institutions will gain direct access to the UBO register, reducing administrative burdens for companies.
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