Austria (AT)27.5%-
Belgium (BE)10.0%Capital gains from the sale of financial assets exceeding the annual exemption of 10,000 EUR will be taxed at 10%. Each year, 10% of the annual exemption can be carried forward for a maximum of five years. Capital gains from shareholdings of at least 20% are taxed at progressive rates up to 10%. Capital gains realized outside the normal management of someone’s private assets that are considered speculative gains remain subject to a 33% taxation.
Bulgaria (BG)10.0%Capital gains are subject to flat PIT rate at 10%.
Croatia (HR)12.0%-
Cyprus (CY)0.0%Shares listed on any recognised stock exchange are excluded from CGT.
Czech Republic (CZ)0.0%Capital gains included in PIT but exempt if shares of a joint stock company were held for at least three years (five years if limited liability company).
Denmark (DK)42.0%Capital income from shares up to DKK 79,400 is taxed at 27%. Share income in excess of this amount is taxed at 42%.
Estonia (EE)22.0%Capital gains are subject to PIT. From 20% in 2024
Finland (FI)34.0%Capital gains are fully taxable and included in the taxable capital income subject to 30% tax rate up to taxable capital income of EUR 30,000 and 34% tax rate on the excess.
France (FR)34.0%Flat 30% tax on capital gains, plus 4% for high-income earners.
Germany (DE)26.4%Flat 25% tax on capital gains, plus a 5.5% solidarity surcharge.
Georgia (GE)0.0%Capital gains from shares held for more than two years is generally exempt from PIT.
Greece (GR)0.0%Capital gains only applies to the sale of shares at a 15% rate if an individual holds at least 0.5% of the share capital of the listed entity.
Hungary (HU)15.0%Capital gains are subject to flat PIT rate at 15%.
Iceland (IS)22.0%Exemption for capital income up to ISK 300,000 per year.
Ireland (IE)33.0%Annual gains of up to EUR 1,270 for an individual are exempt from CGT.
Italy (IT)26.0%-
Latvia (LV)28.5%Flat 25.5% on capital gains, plus 3% for high-income earners.
Lithuania (LT)20.0%Capital gains are subject to PIT, with a top rate of 20%.
Luxembourg (LU)0.0%Capital gains are tax-exempt if a movable asset (such as shares) was held for at least six months and is owned by a non-large shareholder. Taxed at progressive rates if held <6 months. aAdependency contribution of 1.4 percent is due for individuals subject to the Luxembourg social security system on the taxable part of the gains.
Malta (MT)0.0%Transfers of shares listed on recognized stock exchanges are usually exempt from PIT.
Moldova (MD)6.0%Capital gains are taxed at 50% of the PIT rate.
Netherlands (NL)36.0%Net asset value is taxed at a flat rate of 36% on a deemed annual return (the deemed annual return varies by the total value of assets owned) above an annual amount of EUR 59,357 per person.
Norway (NO)37.8%Capital gains are taxed at a 22% rate. A multiplier of 1.72 before taxation applies to gains from the sale of shares.
Poland (PL)19.0%-
Portugal (PT)19.6%PIT applies if the assets were held for less than one year. Otherwise, a flat capital gains tax rate of 28 percent from the sale of shares and other securities. Capital gains income is 10 percent tax-free for holding periods between 2 and 5 years, 20 percent for 5 to 8 years, and 30 percent after 8 years.
Romania (RO)1.0%Gains derived from the transfer of securities and from operations with derivative financial instruments through intermediaries are taxed at 3 percent for holding periods less than 356 days and at 1 percent thereafter.
Slovakia (SK)0.0%Shares are exempt from capital gains tax if they were held for more than one year and are not part of the business assets of the taxpayer.
Slovenia (SI)0.0%Capital gains rate of 0% if the asset was held for more than 15 years (rate up to 25% for periods less than 15 years).
Spain (ES)30.0%-
Sweden (SE)30.0%-
Switzerland (CH)0.0%Capital gains on movable assets such as shares are normally tax-exempt.
Turkey (TR)0.0%Shares that are traded on the Stock Exchange and that have been held for at least one year are tax-exempt (two years for joint stock companies).
Ukraine (UA)19.5%Capital gains are subject to PIT.
United Kingdom (GB)24.0%-
