Small shareholders are buying less shares, and aren’t selling them on.
The most active shareholders are looking for more speculative alternatives that aren’t subject to tax, or are looking abroad. This was reported in L’Echo and De Tijd on Saturday.
As analysts predicted, the number of shares bought by individuals has dropped dramatically. The result is that the speculation tax has bought in a lot less than the 34 million euros the State hoped for.
According to a poll done by L’Echo, De Tijd and Deminor, more than 60% of investors have decided to avoid the tax by buying less shares. 80% have stopped selling their shares within 6 months of buying them. The majority are savers with families who have been discouraged by the new tax, L’Echo explains.
On the other hand, more experienced and dynamic investors are going for alternative products which aren’t subject to tax. Nearly 4 in 10 people admit they have avoided the speculation tax by investing in alternative products.