Cabinet will not introduce new Box 3 savings tax, causing €2.5 Billion shortfall
1 week, 2 days ago

Cabinet will not introduce new Box 3 savings tax, causing €2.5 Billion shortfall

NL Times  

The Dutch government’s proposed overhaul of the Box 3 tax system, which taxes savings and investments, has been officially delayed by one year, State Secretary for Fiscal Affairs Tjebbe van Oostenbrugge announced. In June, the Supreme Court determined that the existing Box 3 tax unfairly burdened taxpayers by assuming a fixed return on savings, investments, and additional real estate. The Council of State, the Netherlands’ highest administrative court, issued a critical advisory statement earlier this month, stating that the proposed system was too complicated for both taxpayers and the Dutch Tax Office. The Council of State also questioned the government’s expectation that the new system would generate the same amount of revenue as the current one.

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History of this topic

Council of State slams "complex" Box 3 asset tax legislation
3 weeks ago

Council of State slams "complex" Box 3 asset tax legislation

Dutch News  

The Dutch government’s proposed changes to the way savings and investments taxed in the “Box 3” system have been slammed by the Council of State, which advises on all new legislation. The council also said that the government’s focus on “budgetary neutrality”—the aim for the new system to generate the same level of tax revenue as the current one—could limit …

Gov't plan for new capital gains tax much too complex: Council of State
3 weeks ago

Gov't plan for new capital gains tax much too complex: Council of State

NL Times  

The government’s plans to modify how it taxes earnings from savings and investments is too complicated and will make everything more difficult for citizens and the Belastingdenst, the Dutch tax office, said the Council of State in a critical piece of advice to the government. In June, the Supreme Court ruled that the manner in which the Netherlands levied tax …

Savers with over €57,000 to lose much more to Box 3 tax due to higher interest rates
11 months, 1 week ago

Savers with over €57,000 to lose much more to Box 3 tax due to higher interest rates

NL Times  

Taxpayers with more than 57,000 euros in savings will pay much more capital gains tax in Box 3 for 2023 than was stated in their provisional assessment. But due to savings interest rates increasing significantly last year, the Tax Authority will assume savers achieved a 0.92 percent return on their savings in 2023, the Financieele Dagblad reports based on calculations …

Delays around implementing new wealth tax already costing Dutch gov't €780 mil.
1 year, 7 months ago

Delays around implementing new wealth tax already costing Dutch gov't €780 mil.

NL Times  

Delays around the introduction of a new wealth tax are costing the government more and more. State Secretary Marnix van Rij postponed the implementation from 2025 to 2027, and that will cost the Dutch treasury some 780 million euros, De Telegraaf reports. The Netherlands has to introduce a new wealth tax because the Supreme Court overturned its previous one. The …

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