Dutch finance minister pledges asset tax rethink after protests

4 hours ago

Dutch finance minister Eelco Heinen announces a rethink of new asset tax proposals set for 2028 due to widespread protests.
The proposed changes to Box 3 asset taxation faced criticism in the Netherlands and abroad, including coverage in the Washington Post.
The VVD, part of the minority coalition, indicated opposition in the senate, calling the legislation 'complicated'.
Heinen described the proposals as an 'intermediary' measure that 'won't work' and hinted at future overhauls.
The temporary measure followed a 2021 Supreme Court ruling against taxing unrealized returns, with a revised version rejected in June 2024.
The new system, based on real returns, requires detailed record-keeping and hybrid taxation for investments and savings.
Investors raised concerns about being taxed on unrealized gains and lack of offsets for investment losses.
Heinen plans to amend the proposals with input from both parliamentary houses but insists changes must not reduce tax revenue.

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