Dutch House Backs Tax on Actual Investment Returns, Including Unrealized Crypto Gains

Overview

• The House of Representatives passed the Actual Return on Box 3 Act on Feb. 12 with 93 of 150 votes.
• The reform shifts Box 3 from a deemed return to taxation of actual results, bringing unrealized gains on assets such as crypto, shares, bonds and investment property into the base.
• BCNL’s Jan Scheele notes the headline 36% rate is unchanged, with the overhaul targeting how returns are calculated and aiming to address fairness concerns highlighted by the Dutch Supreme Court.
• The measure still requires Senate approval and is planned to take effect on Jan. 1, 2028 if enacted.
• Crypto holders voice concern that taxing paper gains could force asset sales in volatile markets, though burdens could rise in bull runs and fall in down years depending on portfolio performance.