Dutch Government Proposes New Capital Growth and Capital Gains Taxes in Box 3 Reform
By
ivankra
You can taste the rush. The dough hadn't risen.
Summary
The Dutch government has introduced a new bill called the 'Actual Return on Investment in Box 3 Act' that reforms taxation of income from assets. The legislation introduces two main tax categories: capital growth tax and capital gains tax. The bill is currently under review by the House of Representatives and questions remain about its effectiveness in resolving issues related to taxation of savings and investment income. The proposed capital growth tax diverges from international norms, making case-by-case assessment important for taxpayers considering migration to other countries. The changes will also affect individuals under the 30% ruling who will lose their exemptions from taxes on substantial shareholdings and savings/investments.
Key quotes
· 4 pulledThe Dutch government presented a new bill to the Parliament aimed at reforming the taxation system for income derived from assets, known as the 'Actual Return on Investment in Box 3 Act.'
The bill regarding Box 3 introduces two main categories of taxation: capital growth tax and capital gains tax.
The proposed capital growth tax diverges from international norms which makes it even more important to assess on a case-by-case basis what the impact is of a taxpayer's migration to another country.
Given recent changes to Dutch tax law, all individuals under the 30% ruling will lose their near-total exemption from taxes on substantial shareholdings (Box 2) and savings and investments (Box 3).
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