Menu
  • Locations
  • About Us
  • Services
  • Experts
  • News & Knowledge
  • Hot Topics
  • Culture & Career
  • Locations
  • Search
  • Press
  • Events & Webinars
  • CI Guide
  • Contact
  • Albania
  • Algeria
  • Angola
  • Argentina
  • Armenia
  • Atlas Tax Lawyers
  • Australia
  • Austria
  • Austria | ICON Wirtschaftstreuhand GmbH
  • Bangladesh
  • Belgium
  • Benin
  • Bolivia
  • Bosnia & Herzegovina
  • Botswana
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Central African Republic
  • Chad
  • Chile
  • China
  • Colombia
  • Congo Brazzaville
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Democratic Republic of Congo
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Estonia
  • Eswatini
  • Ethiopia
  • Finland
  • France
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Italy | WTS R&A
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Liberia
  • Libya
  • Lithuania
  • Luxembourg
  • Macao
  • Madagascar
  • Malawi
  • Malaysia
  • Mali
  • Malta
  • Mauritania
  • Mauritius
  • Mexico
  • Moldova
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nepal
  • Netherlands
  • New Zealand
  • Niger
  • Nigeria
  • North Macedonia
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Rwanda
  • São Tomé and Príncipe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Seychelles
  • Sierra Leone
  • Singapore
  • Slovakia
  • Slovenia
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • UK | FTI Consulting
  • UK | WTS Hansuke
  • Ukraine
  • United Arab Emirates
  • United Arab Emirates | WTS Dhruva Consultants
  • United Kingdom
  • Uruguay
  • USA
  • USA | Frankel Loughran Starr & Vallone LLP (FLSV)
  • USA | GTM Global Tax Management (GTM)
  • USA | VALENTIAM Group
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Wenger Vieli Ltd. | Switzerland
  • WTS Tax Service
  • Zambia
  • Zimbabwe
  • About Us
  • Our Supervisory Board
  • Quality, Process & Risk Management
  • Sustainability & Tax at WTS Global
  • Customs
  • Financial Services
  • Global Mobility
  • Indirect Tax
  • International Corporate Tax
  • Mergers & Acquisitions (M&A)
  • Private Clients & Family Office
  • Sustainability & Tax
  • Tax Certainty & Controversy
  • Tax Technology
  • Transfer Pricing & Valuation
  • Real Estate
  • Digital Tax Law
  • European Tax Law
  • Latest News
  • Brochures
  • Newsletters
  • Surveys & Studies
  • Pillar Two
  • FIT for CBAM
  • Tax Sustainability Index
  • ViDA - VAT in the Digital Age
  • EU WHT Reclaims
  • AI playground
  • Culture and Leadership
  • Diversity
  • WTS Global Academy
  • Career
  • Pillar Two Team
  • Pillar Two - Implementation Status Wordwide
  • Press
  • Events & Webinars
  • CI Guide
  • Contact
WTS worldwide
  • Albania
  • Algeria
  • Angola
  • Argentina
  • Armenia
  • Australia
  • Austria
  • Bangladesh
  • Belgium
  • Benin
  • Bolivia
  • Bosnia & Herzegovina
  • Botswana
  • Brazil
  • Bulgaria
  • Burkina Faso
  • Burundi
  • Cambodia
  • Cameroon
  • Canada
  • Cape Verde
  • Central African Republic
  • Chad
  • Chile
  • China
  • Colombia
  • Congo Brazzaville
  • Costa Rica
  • Croatia
  • Cyprus
  • Czech Republic
  • Democratic Republic of Congo
  • Denmark
  • Dominican Republic
  • Ecuador
  • Egypt
  • El Salvador
  • Equatorial Guinea
  • Estonia
  • Eswatini
  • Ethiopia
  • Finland
  • France
  • Gabon
  • Gambia
  • Georgia
  • Germany
  • Ghana
  • Gibraltar
  • Greece
  • Guatemala
  • Guinea
  • Guinea-Bissau
  • Honduras
  • Hong Kong
  • Hungary
  • Iceland
  • India
  • Indonesia
  • Iran
  • Iraq
  • Ireland
  • Israel
  • Italy
  • Ivory Coast
  • Japan
  • Kazakhstan
  • Kenya
  • Korea
  • Kyrgyzstan
  • Laos
  • Latvia
  • Liberia
  • Libya
  • Lithuania
  • Luxembourg
  • Macao
  • Madagascar
  • Malawi
  • Malaysia
  • Mali
  • Malta
  • Mauritania
  • Mauritius
  • Mexico
  • Moldova
  • Montenegro
  • Morocco
  • Mozambique
  • Myanmar
  • Namibia
  • Nepal
  • Netherlands
  • New Zealand
  • Niger
  • Nigeria
  • North Macedonia
  • Norway
  • Pakistan
  • Panama
  • Paraguay
  • Peru
  • Philippines
  • Poland
  • Portugal
  • Puerto Rico
  • Romania
  • Rwanda
  • São Tomé and Príncipe
  • Saudi Arabia
  • Senegal
  • Serbia
  • Sierra Leone
  • Singapore
  • Slovakia
  • Slovenia
  • Somalia
  • South Africa
  • South Sudan
  • Spain
  • Sri Lanka
  • Sudan
  • Sweden
  • Switzerland
  • Taiwan
  • Tanzania
  • Thailand
  • Togo
  • Trinidad and Tobago
  • Tunisia
  • Turkey
  • Turkmenistan
  • Uganda
  • Ukraine
  • United Arab Emirates
  • United Kingdom
  • Uruguay
  • USA
  • Uzbekistan
  • Venezuela
  • Vietnam
  • Zambia
  • Zimbabwe
  • About Us Clothing
    • About Us
    • Our Supervisory Board
    • Quality, Process & Risk Management
    • Sustainability & Tax at WTS Global
    WTS Global -- Locally rooted -- Globally connected

    Here you will find more information on our organization’s structure, experts and global reach.

  • Services Clothing
    • Customs
    • Financial Services
    • Global Mobility
    • Indirect Tax
    • International Corporate Tax
    • Mergers & Acquisitions (M&A)
    • Private Clients & Family Office
    • Sustainability & Tax
    • Tax Certainty & Controversy
    • Tax Technology
    • Transfer Pricing & Valuation
    • Real Estate
    • Digital Tax Law
    • European Tax Law
    Our Global Services

    Learn more about our network partners and their services.

  • Experts
  • News & Knowledge Clothing
    • Latest News
    • Brochures
    • Newsletters
    • Surveys & Studies
    News & Knowledge

    Welcome to WTS Global Insights. Here you will find news and updates from our worldwide network.

  • Hot Topics Clothing
    • Pillar Two
      • Pillar Two Team
      • Pillar Two - Implementation Status Wordwide
    • FIT for CBAM
    • Tax Sustainability Index
    • ViDA - VAT in the Digital Age
    • EU WHT Reclaims
    • AI playground
    Hot Topics

    Overview of the current "Hot Topics" in the tax industry and how we can support with individual questions.

  • Culture & Career Clothing
    • Culture and Leadership
    • Diversity
    • WTS Global Academy
    • Career
    Culture and Leadership

    WE PLAY DIFFERENT.

    Career

    Join the game-changers.

  • Locations
  • Search
21.12.2022

Belgium: The Belgian Constitutional Court decides on the annual tax on securities accounts (ATSA)

On Thursday the 27th of October 2022, the Belgian Constitutional Court has delivered its long-awaited judgment on the constitutionality of the annual tax on securities accounts introduced by the Act of February 17, 2021 (hereafter “ATSA”).

As a reminder, the ATSA is applicable, in principle, on all securities accounts held in Belgium if the average value in the reference period (01/10/20XX – 30/09/20XX) exceeds 1 million EUR. The tax rate is 0,15% and calculated on the average value held on the securities account.

Already from the start, several objections could be raised concerning certain constitutional principles, for example regarding the principle of equal treatment (non-discrimination), the tax legality principle, the prohibition of double taxation (ne bis in idem principle) and certain aspects of European law. 

A total of 7 separate annulment appeals were filed, causing a broad group of taxpayers to await with interest the outcome of the procedure before the Court. 

Although there was hope for several fundamental corrections to or even the full annulment of the ATSA, the Court apparently sees far fewer problems regarding the ATSA. 

The Court decides to annul the specific anti-abuse provisions regarding the splitting of a securities account into several securities accounts held with the same financial intermediary and the anti-abuse provision regarding the conversion of financial instruments held in a securities account into registered financial instruments (not held on a securities account). 

In addition, the Court ruled that the retroactive effect of the general anti-abuse provision regarding the period prior to the entry into force of the law, i.e. from 30 October 2020 to 26 February 2021, was not permissible and should therefore be annulled. 

Action can therefore be taken regarding any application of the specific or general anti-abuse measures prior to the 26th of February 2021. Any application of any anti-abuse measure before this date (the date of entry into force of the law) is invalid and can therefore be contested in a straightforward manner. In principle, this has to lead to a full reimbursement of the ATSA that was paid as a consequence of the application of said anti-abuse measures.

Any application of the specific anti-abuse measures as from the 26th of February 2021 can also be targeted, however, taken into account that the general anti-abuse measure still applies. 

This means that if any wealth were to be transferred to a second securities account held by the same financial intermediary this cannot be considered to be tax abuse, unless the tax administrations proves this to be the case. In the presence of sufficient non-tax related arguments, therefore, the reimbursement of the ATSA can be requested.

If financial instruments held on a securities account were to be converted from 26th of February 2021 or any later date in a registered form, there will be no ATSA applicable if the taxpayer has sufficient non-tax related arguments to substantiate the non-application or even reimbursement of the ATSA.

For the remainder, the ATSA has survived all legal discussions meaning the ATSA should still be declared and paid for the 2022 reference period (01/10/2021 – 30/09/2022) and any further reference periods.

If you wish to discuss this topic, please contact: Tiberghien, Antwerp

Read the WTS Global Financial Services Newsletter here.

WTS Global Financial Services Newsletter #27/2021
News from nine European countries with a focus on the international Financial Services industry
View publication
WTS Global Financial Services Newsletter
Subscribe here for our Newsletter
Subscribe now
Articles you might be interested in

Explore this article to find out more about South Africa's new Remote Work Visitor Visa, commonly called the "digital nomad visa," which was introduced to attract high-earning foreign remote workers to stimulate the local economy.

South Africa: The South African Digital Nomad Visa - A Tax Trap for the Unwary
Read more

In this article, we explore the special depreciation regimes in the extractive sector of Senegal. 

Senegal: Special Depreciation Regimes in the Extractive Sector in Senegal
Read more

Since August 2023 and as noted in prior newsletter updates, Nigeria’s tax reforms have been a central topic of discussion, culminating in President Bola Tinubu’s assent to four landmark Tax Reform Bills on June 26, 2025.

Nigeria: Regulatory Shifts in Nigerian Tax Administration - The Tax Reform Bills are now Law!
Read more

Get in contact

If you have any questions about WTS Global or our global services, please get in touch.
We will respond to you as soon as possible.

Contact
About Us
  • About Us
  • Our Supervisory Board
  • Quality, Process & Risk Management
Services
  • Customs
  • Financial Services
  • Global Mobility
  • Indirect Tax
  • International Corporate Tax
  • Mergers & Acquisitions (M&A)
  • Private Clients & Family Office
  • Sustainability & Tax
  • Tax Certainty & Controversy
  • Tax Technology
  • Transfer Pricing & Valuation
Latest News
  • News & Knowledge
  • Brochures
  • Newsletters
  • Newsletter Subscription
  • Surveys & Studies
Hot Topics
  • Pillar Two
  • Digital Tax Law
  • European Tax Law
Culture & Career
Exclusive Cooperation With
© 2024 WTS Company Information Data Protection Disclaimer