Capital Gains Tax Policies Across the EU 2026
Here is a country-by-country preview of capital gains tax (CGT) policies for 2026 across EU Member States. This includes anticipated or confirmed tax reforms, rates, exemptions, and any other relevant changes, based on the most recent available data.
| Country | Capital Gains Tax Overview for 2026 | Key Changes or Reforms |
|---|---|---|
| Austria | 27.5% (flat rate on most capital gains). Exemption for private property held for >10 years. | No major change for 2026, but ongoing focus on increasing tax on financial gains, especially crypto. |
| Belgium | 10% on financial assets (shares, bonds, ETFs, crypto). Exemption up to €10,000 (indexed). | New CGT on financial assets starting 2026. Step-up in value as of 31 Dec 2025 for assets held before that date. |
| Bulgaria | 10% flat rate on capital gains for individuals. | No planned changes for 2026; the 10% flat rate remains unchanged. |
| Croatia | 12% for capital gains from financial assets, including shares and bonds. | No major changes confirmed for 2026; Croatia has a stable CGT regime. |
| Cyprus | 20% CGT on gains from sale of immovable property, shares, and other assets. Exemption for gains on shares in non-real-estate companies. | Possible adjustment of real estate CGT rules (still under review for 2026). |
| Czech Republic | 15% on capital gains. Exemption for private property held for at least 5 years. | No significant changes for 2026, though ongoing discussions on harmonizing crypto taxation. |
| Denmark | 27% on capital gains. Exemption on the sale of shares if held for >3 years (applies to some companies). | No major CGT reforms confirmed for 2026, but crypto tax discussions may impact future changes. |
| Estonia | 20% on capital gains. Exemption on sale of real estate held for >2 years, as well as for specific business asset disposals. | No changes announced for 2026. Estonia is considering reform of its taxation of digital assets. |
| Finland | 30% on capital gains up to €30,000, 34% on amounts exceeding €30,000. | No changes for 2026. Finland has been focusing on adjusting taxes for crypto assets, so expect clarifications in the future. |
| France | 30% flat rate (includes 12.8% income tax and 17.2% social security contributions). Exemption for property held over 22 years for main residence. | Potential revision of CGT for crypto; changes in treatment for long-term holdings are expected by 2026. |
| Germany | 26.375% on capital gains (with an additional 5.5% solidarity surcharge). Exemption for shares held over 1 year. | No major changes confirmed for 2026, though crypto tax policy is under review. |
| Greece | 15% on capital gains from securities. Exemption for capital gains on the sale of personal property held for >5 years. | Review of property tax regimes; no significant CGT change for 2026. |
| Hungary | 15% flat tax on most capital gains, including shares and securities. | No significant changes for 2026. |
| Ireland | 33% CGT. Exemption for the first €1,270 of gains per year. | Likely continuation of the CGT rate at 33%. There is ongoing discussion about crypto taxation and impact on investors. |
| Italy | 26% on capital gains from financial assets, 12.5% on gains from bonds. | No significant CGT reforms are expected for 2026. Italy is expected to focus on adjusting its digital tax framework. |
| Latvia | 20% on capital gains for financial assets. | No major changes to CGT in 2026. |
| Lithuania | 15% flat rate on capital gains. | No major changes for 2026. |
| Luxembourg | 0% tax on capital gains from sales of shares (unless sold within 6 months). Exemption for sales of shares in small companies. | No major changes expected for 2026. |
| Malta | 12% CGT on capital gains from property and shares. | Reform underway: Ongoing consultations about aligning property and financial asset taxation. |
| Netherlands | 30% on income from investments (applies to returns from a "presumed" return system on investments). | No major CGT changes announced for 2026. The Netherlands is focusing on digital asset taxation. |
| Poland | 19% on capital gains. Exemption for long-term gains from shares if held >1 year. | No significant changes to CGT for 2026, but ongoing discussions on crypto taxation. |
| Portugal | 28% on capital gains. Exemption for primary homes under certain conditions (held for >2 years). | No changes for 2026, but cryptocurrency taxation is under discussion, with potential updates by 2026. |
| Romania | 10% on capital gains, with exemptions for long-term holdings. | No major changes for 2026. |
| Slovakia | 19% flat rate on capital gains. | No major changes for 2026. |
| Slovenia | 25% on capital gains, including from crypto and derivatives. | New CGT rule for crypto at 25% starting in 2026, as well as changes in how gains from derivatives are taxed. |
| Spain | 19% up to €6,000, 21% up to €50,000, 23% above €50,000. Exemption for long-term holdings (stocks held for >1 year). | No significant CGT changes are expected for 2026. |
| Sweden | 30% on capital gains. Exemption for primary residence if held for more than 5 years. | No major changes expected for 2026. |
| United Kingdom (Not in EU but relevant due to proximity) | 10% on long-term capital gains for most assets (up to £50,000), 20% for higher earners. Exemption for primary residence and certain small businesses. | No significant change expected for 2026 in CGT rates, though reforms in property tax may influence overall CGT landscape. |
Trends & Insights Across the EU
1. Flat Tax Trends: Several EU member states (e.g., Bulgaria, Hungary, Lithuania, Romania) maintain a flat tax rate on capital gains, typically ranging from 10% to 20%. These regimes often attract foreign investment due to their simplicity and predictability.
2. Crypto Gains Taxation: Countries like Slovenia, France, Belgium, and Germany are taking steps to bring cryptocurrencies under CGT regimes, treating crypto like other capital assets (e.g., shares, bonds). Slovenia, in particular, is targeting a 25% flat rate on crypto starting in 2026.
3. Exemptions for Long-Term Holdings: Many EU countries offer exemptions or lower rates for long-term holdings (e.g., Portugal, Greece, Germany). Some countries also offer exemptions for real estate and personal property held for more than two years.
4. Property Taxation: Many EU states, including Cyprus and Portugal, allow exemptions or preferential rates for capital gains on the sale of primary residences, often with certain conditions (e.g., the property must have been owned for several years).
5. Digital Assets & Blockchain: Many EU countries are revising or introducing new rules for taxing digital assets. Belgium, France, Slovenia, and Germany are actively refining rules for cryptocurrencies, likely due to growing adoption and regulatory focus at the EU level.
Broader EU / OECD Trends — but No EU-Wide CGT Harmonisation
According to recent OECD tax policy reports, some countries are adjusting how they tax capital income, but these are mostly national-level decisions.
There is no confirmed EU directive (as of late 2025) that mandates a unified capital gains tax rate or base for all capital gains across the EU. Capital gains remain under domestic tax law.
In terms of crypto, while the EU has broader regulation (e.g., under MiCA — Markets in Crypto-Assets regulation), taxation of capital gains remains national, not harmonised under EU-level tax law.
Key Take-Aways & Trends (2026)
1. Uneven CGT Reform: Different member states are doing very different things. Belgium is introducing a broad new CGT on financial assets, while Slovenia is targeting crypto and derivatives. There’s no “one-size-fits-all” EU CGT reform.
2. Increasing Focus on Crypto: Slovenia’s move reflects a broader trend: more EU governments are treating crypto gains more like traditional capital gains, increasing transparency and tax compliance.
3. Protection for Small Investors: Belgium’s 10,000 € exemption suggests policymakers are trying to protect small, long-term or retail investors from being overly burdened.
4. Administrative Complexity: New rules mean more compliance — individuals will need to track cost bases more precisely, especially for crypto. But simplified methods (like Slovenia’s 40%-of-2025-value option) are being offered to ease that burden.
5. Tax Revenue Potential: These changes could generate meaningful revenue for national coffers, particularly as crypto adoption grows.
Summary & Observations
Country-Specific Divergence: While many EU countries have stable and predictable capital gains tax rules, major reforms (like Belgium's new 10% tax on financial assets and Slovenia's crypto tax) suggest a growing focus on financial assets and digital assets.
Focus on Simplicity: Several countries are focusing on flat tax rates and simplified reporting for taxpayers, making CGT easier to manage.
Cryptocurrency Taxation: The treatment of cryptocurrencies is becoming more unified across EU states, with Slovenia and France leading.