The 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. 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). If such individuals are Dutch tax residents, the changes to Box 3 under this bill will apply to them as well.
For those who don’t know, “Box 3” is such a shitshow. The government wanted to tax wealth growth without tax payers having to calculate it exactly, so they set a fixed calculation rate for everyone. Your wealth will grow x% and the tax on that growth is another percentage. The fixed growth rate was on the low end and nobody complained. Then economic growth stagnated and the calculating rate was now higher than actual, so these rich fucks all went to court and demanded billions of ‘overpaid’ taxes. All the years they paid too little, not a peep. Now they’re upending the whole tax system. Stupid law and selfish rich pricks, what else is new
For those who don’t know, “Box 3” is such a shitshow. The government wanted to tax wealth growth without tax payers having to calculate it exactly, so they set a fixed calculation rate for everyone. Your wealth will grow x% and the tax on that growth is another percentage. The fixed growth rate was on the low end and nobody complained. Then economic growth stagnated and the calculating rate was now higher than actual, so these rich fucks all went to court and demanded billions of ‘overpaid’ taxes. All the years they paid too little, not a peep. Now they’re upending the whole tax system. Stupid law and selfish rich pricks, what else is new