The bill includes bitcoin and cryptocurrencies among assets subject to unrealized capital gains tax.
The Dutch House of Representatives approved a legislative proposal introducing a 36% tax on capital gains from liquid savings and investments, including digital assets. The measure reached the required threshold of 75 votes with 93 parliamentarians in favor.
Under the proposal, savings accounts, cryptocurrencies, most equity investments and gains from interest-bearing financial instruments are subject to the tax, regardless of whether the assets are sold or not. Some assets are exempt from the 36% tax, such as stakes in qualified startups and physical properties used for non-investment purposes.
The legislation still needs to be approved by the Dutch Senate before becoming law. If enacted, it would take effect in the 2028 tax year. Critics argue the measure will push capital out of the Netherlands toward jurisdictions with more favorable tax laws.
Denis Payre, co-founder of logistics company Kiala, commented: “France did this in 1997 and saw a massive exodus of entrepreneurs leaving the country.” Crypto market analyst Michaël van de Poppe called the proposal “the stupidest thing I’ve seen in a long time,” adding that “the number of people willing to flee the country will be enormous.”
According to calculations by Investing Visuals, an investor starting with €10,000 and contributing €1,000 monthly for 40 years would end up with approximately €3,320,000. However, the new 36% tax reduces the total amount after 40 years to approximately €1,885,000, a difference of €1,435,000.
