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In recent times, we have increasingly received questions from clients regarding the VAT treatment of activities in the equestrian sector, often in the context of a VAT audit or an ongoing investigation by the tax authorities. In practice, it appears that even seemingly hobby-based equestrian activities can quickly trigger a wide range of VAT rules. The combination of different activities, such as keeping horses, providing riding lessons, organising training camps, offering li

Since 31 December 2025, a fundamentally revised VAT regime applies in Belgium to works of art, collectors’ items and antiques. This reform, introduced by the Law of 19 December 2025 (Belgian Official Gazette of 31 December 2025) and further clarified in VAT Circular 2026/C/14 of 13 January 2026, provides that supplies of works of art are, in principle, subject to the reduced VAT rate of 6 percent. At the same time, the traditional margin scheme for art dealers has been retain

With the Act of 6 April 2026, Belgium introduced a general capital gains tax on financial assets. This marks a fundamental departure from the previous principle that capital gains realised within the normal management of private assets were, in principle, tax-exempt. The sale of certain forms of gold is now explicitly subject to this general capital gains tax. This brings an end to a situation in which gold, long regarded as the archetype of a prudent investor, benefited from