The bill aims to introduce an annual tax on unrealized gains starting in 2028.
According to Telegraaf, the Dutch Parliament is preparing to vote on a tax reform that could change the Box 3 wealth taxation system. The most controversial aspect concerns the introduction of an annual tax on unrealized gains from assets such as stocks, cryptocurrencies, and bonds, in addition to direct income like dividends.
The new system is known as Wet werkelijk rendement Box 3 and, if approved, is expected to be fully implemented from January 1, 2028. Under this structure, taxes will be calculated both on changes in asset value and on income received annually. Consequently, both realized and unrealized gains would be subject to taxation. The proposed rate is 36%.
During the debate held on January 19 in the Tweede Kamer, the Dutch House of Representatives, MPs raised over 130 questions to the Acting Secretary of State for Taxation, Eugène Heijnen.
Under the new rules, taxation on Bitcoin and other cryptocurrencies would also apply to “on-paper” gains, meaning those that exist only virtually because the investor has not yet sold their assets.
This method of taxation is considered undesirable by a majority of parties in Parliament. Heijnen himself admitted during the debate that the caretaker government would prefer to tax returns only when they are actually realized, but he stressed that such a solution would not be technically feasible by 2028.
The central issue is economic: delaying the implementation of the new tax system would cost the Dutch treasury approximately €2.3 billion per year. This fact has convinced many parties to support the reform, albeit reluctantly.
Among the supporting parties are VVD, CDA, JA21, BBB, and PVV, who expressed their backing primarily for budgetary reasons. D66 and GroenLinks-PvdA will also vote in favor, but for different reasons: these parties support, in principle, the taxation of unrealized gains, seeing it as simpler to implement and capable of preventing billions in lost revenue for the state. GroenLinks-PvdA MP Luc Stultiens also expressed the intention to impose heavier taxation on those with higher capital gains.
Critical voices have also emerged regarding the complexity of the new system. ChristenUnie MP Peter Grinwis highlighted that the new wealth tax will be as complex, if not more so, than the current system. “We say every year that it should be simpler, but we do the opposite.” Grinwis said during the debate. “So much complexity—are we really going to inflict this on our country?”
