Dutch Finance Minister Eelco Heinen has announced plans to revise the proposed Box 3 tax overhaul, admitting the legislation cannot proceed in its current form. "I don’t think the law can pass as it is," Heinen stated, "I think something simply went wrong here, and the current law needs to be amended."
The government plans to consult with Parliament to amend or rewrite the legislation, slated for implementation in 2028. The proposal would impose a 36% levy on asset appreciation, including unrealized gains on savings, equities, bonds, and digital assets. Critics argue this could force liquidations and capital outflows, impacting crypto investors similarly to traditional portfolio holders.
This reform follows a December 2021 Supreme Court ruling that overturned the previous tax system, deemed an infringement on property rights due to its reliance on hypothetical returns.