February 13 News, the Dutch House of Representatives approved the “Third Box Actual Return Act” (Wet werkelijk rendement box 3) this week, planning to reshape the country’s investment tax system starting January 2028. The new system will tax the “actual returns” of most investment assets such as stocks, cryptocurrencies, and bonds, at an approximate rate of 36%. This means that even if investors have not sold their assets, they are still required to pay annual taxes on unrealized gains.
Under the current framework, taxes are largely based on assumed yields, whereas the new law will directly tax real returns. This change is seen as a significant shift in the Dutch tax system. For highly volatile assets like cryptocurrencies, the mechanism of taxing unrealized gains could impose noticeable liquidity pressures. Some community members warn that if the market experiences a downturn, investors may face the risk of rapid erosion of paper profits after paying taxes.
It is important to note that real estate and shares in startups will be subject to different rules. These assets will still primarily be taxed based on capital gains upon actual sale, but income such as rent and dividends will still need to be taxed in the year they are received. This differentiated treatment is considered a buffer for long-term projects and the real economy.
To reduce systemic risks, the parliament also passed an amendment shortening the assessment cycle from five years to three years, allowing for quicker revisions if significant issues arise with the new system. Meanwhile, the ruling coalition composed of D66, VVD, and CDA has stated plans to eventually transition to a more traditional capital gains tax model, taxing only upon asset sale, with a draft bill expected to be submitted before the 2028 budget.
Although this transitional plan may ease cash flow pressures, government tax revenue could decrease in the short term. For investors, the policy developments and legislative progress over the next two years will be key variables influencing asset allocation.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Anduril Founder Luckey: U.S.-China AI Gap Is Extremely Small, China's Deployment Speed Far Exceeds U.S.
Anduril Industries founder Palmer Luckey warned on the Axios Show that America's lead in the AI race is extremely slim, pointing out that China is moving faster than the United States in AI applications. Luckey emphasized China's structural advantages and mentioned application gaps across different sectors in the United States. Additionally, he supports the Department of Defense's tough stance on supply chain risks and discussed changes in future warfare domains.
GateNews3m ago
HSBC: Bank of Japan's Rate Hike Path Narrows, More Inclined to Wait for Clarity Before Acting
HSBC analysts指出，由于能源成本上升和日元贬值导致物价上涨，日本央行面临收紧货币政策的压力。同时，经济增长受限，预计将保持政策灵活性，可能会在夏季晚些时候再次收紧。
GateNews22m ago
Dutch Cooperative Bank Cuts 2026 Fed Rate Cut Expectations from Three to Two
Dutch Cooperative Bank analyst Philip Marey stated that despite rising inflation, the FOMC expects only two rate cuts in 2026, reflecting a muted response to energy price increases. Meanwhile, the Iran conflict could impact rate cut expectations.
GateNews23m ago
The Federal Reserve keeps interest rates unchanged in March, with analysts stating that the escalation of the Middle East conflict will continue to support oil prices.
The Federal Reserve's meeting decided to keep interest rates steady, paying close attention to inflation and the effects of the Middle East war. Iran launched attacks on energy infrastructure, leading to a rise in oil prices. Analysts believe that disruptions in oil supply will continue, with no hope of reopening the Strait of Hormuz, and oil prices will remain supported.
GateNews24m ago
MICA Daily | Is the Fed Worried About Inflation Getting Out of Control? US Stocks Decline, BTC Tests $71,000 Again
Yesterday, BTC fell from $73,000 to $71,000 due to declining US stocks and deteriorating Middle East conditions, with risk-off sentiment heating up in the market. The Federal Reserve kept interest rates unchanged, with Powell emphasizing that the US employment market and energy crisis make decision-making difficult, indicating uncertain economic prospects ahead that could impact both stock and crypto markets.
区块客29m ago
The Federal Reserve maintains interest rates, Bitcoin is pressured near $70,000, and the Iran conflict escalation increases market uncertainty.
The Federal Reserve kept its benchmark interest rate unchanged on March 19, with a voting result of 11 to 1. Chairman Powell pointed out that the situation in the Middle East and rising oil prices introduce uncertainties to the economy, and short-term inflation expectations have been raised to 2.7%. The market response was notable, with risk assets performing poorly. Analysts advise paying attention to future interest rate movements.
GateNews37m ago
