Knowledge & Expertise

A great deal has already been written about the tax regime governing capital gains tax. So far, however, less attention has been paid to its legal and contractual implications in the context of an acquisition. Yet it is precisely in the share purchase agreement, commonly referred to as an "SPA" in M&A terminology, that certain risks, responsibilities and arrangements need to be clearly defined.

Capital gains on shares are not only an important tax issue. They can also play a significant role in the event of a divorce. In its judgment no. 25/2026 of 5 March 2026, the Constitutional Court clarified what happens to the capital gain on shares owned by one of the spouses.

Social legislation is constantly evolving. Several reforms and measures have already been implemented, while others are still taking shape. For employers, these developments create new opportunities, but also raise questions about work organisation, flexibility, remuneration and HR policies.

Buying something online is quick and easy. But what if you change your mind as a consumer? In many cases, you can still cancel your purchase thanks to the right of cancellation. For businesses, however, the situation is different. In a B2B context, there is generally no statutory right of cancellation.

On 29 July 2026, the personal income tax reform act was officially published. Through this reform, the Belgian federal government aims to make work more rewarding by increasing net salaries and reducing the tax burden on employment income. At the same time, several tax benefits will be adjusted or gradually phased out.

On 22 July 2026, the Belgian Federal Public Service (FPS) Finance published a new circular providing important clarifications on the capital gains tax on financial assets within the framework of personal income tax. This circular provides greater clarity on the contribution of shares to a partnership, internal capital gains, crypto-assets, and the burden of proof regarding the acquisition value.