ETF Taxes in Europe! (0-41%)

Let's compare capital gains and dividend taxes on ETFs in 22 European countries!

There are major differences in how ETFs are taxed across Europe, with some countries imposing no tax at all on capital gains and dividends, while others go all the way up to 41 percent! Let's take a closer look at a total of 22 countries to find the most tax efficient way to invest in each of them!

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Video mentions:
📌 Vanguard FTSE All-World UCITS ETF Acc. (VWCE)
📌 SPDR MSCI ACWI IMI UCITS ETF Acc. (SPYI)
📌 iShares Core MSCI World UCITS ETF Acc. (IWDA)

00:00 Comparing ETF Taxes in Europe
01:18 Low to Tax-Free Countries
Greece, Bulgaria, Cyprus, Slovakia, Croatia, Czech Republic, Hungary, Belgium, Slovenia
04:28 Moderate Tax Countries
Romania, Lithuania, Poland, Estonia, Latvia
05:25 High Tax Countries
Netherlands, Spain, Italy, Germany, Austria, Portugal, France, Ireland
13:21 How are ETFs taxed where you live?

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Some of the links are affiliate links, which help support me and the YouTube channel. Still, none of the links are sponsored.
Disclaimer: I am only sharing my own experience. I'm not a financial advisor and you should always do your own research and due diligence before investing. Investing involves risk of losses.

[AngeloColomboFi]

Did I cover your country? If not, how are ETFs taxed where you live? :)

[viniciusdss]

Low Tax List Summary

- Greece: No CGT on UCITS
- Bulgaria: No CGT on UCITS (European brokers only); 5% tax on div
- Cyprus: No CGT in general; 17% on div for residents
- Slovakia: 19% CGT if sold in less than 1 year; 0% CGT if sold after 1 year; 7% on div
- Croatia: 12% both on CG and div but only if sold in less then 2 years
- Czech Republic: 15% on CG only if sold in less then 3 years
- Hungary: 15% on CG and dividends; TBSZ accounts (long term investment) 10% after 3 years and 0% after 5 years
- Belgium: No CGT; 30% on div; beware of TOB tax on buy and sell transactions (three rates: 0, 12%, 0, 35%, 1, 32% depends on the ETF); 0, 15% wealthy tax on over €1M investments
- Slovenia: CGT <5y 25%; 5-10y 20%; 10-15y 15%; >15y 0%

[produktas]

thats so cool that you mentioned countries of viewers. Lithuanian here :D

[xiaoyiliu]

Ireland makes me cry.. Thanks Angelo, very informative!

[LouisBollard-wqim]

Great video Angelo. Irish here, I'll send this video onto the politicians!

[martinthegiraffe]

So much effort in this video for the viewers and so accessible... thank you so much for this work

[carlosmoreira]

Obrigado pelo teu trabalho Angelo, uma abraço de portugal.

[matsholvoet]

Fantastic you cover a small country like Belgium 🇧🇪 keep up the excellent videos of late

[hermes]

Thank you for doing this. Although I have no connection to Europe (neither residency or investments) I welcome seeing more ETF/stock channels with an international perspective. I see so many American, Canadian, and Australian channels where the presenters assume the viewers know where they are. You make it obvious and clear *where* you are talking about. Rare!

[AtilNL]

Thank you so much Angelo for the video. Hope policies change for good in the Netherlands.

[redv]

Great video, Irish here, it’s individual stocks or nothing, going to canvas my local TD after this, thanks for the motivation👍

[Mutmutism]

Hey, French viewer here. A small detail on PEA: we also have access to major international ETFs (msci world, S&P500...) its just that the emitting financial company has to be based in Europe and has to replicate synthetically the index and not holding the actual shares if from Non-European companies

[tzu]

Great summary! 🎉
Hello from a happy investor in Belgium 🇧🇪

[lObservateur_]

Check this information, as you may be misleading regarding dividends. You may still need to pay taxes on dividends from accumulating ETFs, even though the dividends are not distributed to you directly but are automatically reinvested within the fund. ETFs can still be taxed under a 'deemed dividend' or 'prepayment' system, where you're taxed as if you had received the dividends, even though they were reinvested.

[eusouojorge-investidorinte]

Thanks for this video Angelo. As a foreign living in Austria and having to deal with all this complexity in german language seems to be hell on earth. As I also invest via Interactive Brokers, I would be forever greatful to you if you make a video showing how you do the calculation of your taxes for your etfs in Austria

[steliosprokopiou]

Luxembourg wasn't mentioned, but you can invest tax free in any type of security/fund, EU or non-EU, if you hold for at least 6 months.
Dividends are taxed 15% and interests 20%.

I can also confirm that UCITS ETFs are tax free in Greece.

Great video btw! Cheers

[MartinKnapic]

Thanks for this sum-up! Bit disappointed you didn't cover Switzerland 😉 Maybe next time 👍

[Daniel-zrpk]

thanks for including Bulgaria despite being such a small percent of the portfolio ^^

[AIdrivenabundance]

Angelo, that is something I was looking for such a long time. Great comparison for Europeans! Thank you so much! <3

I am an expat living in Austria and this video was just what I was looking for thank you! It is so painful to find good quality information about how the tax system works here. I really like Trade Republic's offering I hope they become "easy-tax", until then I really only have one option (Flatex). I would really appreciate if you could make a video on how you do your taxes in Austria there must be a lot of people struggling with this, especially expats. Thanks again!