Box 3 plan shifts towards tax on sale
The cabinet is amending its proposal and wants to spare smaller savers and investors, but implementation remains complicated.
Follow-up to: Senate discusses speeding up new box 3 system Monday, 5 October 2026, 21:41
The cabinet has adopted an amending bill that moves the new Box 3 system further towards a capital gains tax. Minister Heinen says smaller savers and investors will be spared; the Lower and Upper Houses still have to approve the amendment.
At a press conference after the Council of Ministers, the cabinet said that as much capital gain as possible should fall under the new rules. In broad terms, this means that taxation will be linked more closely to the moment when an investment is sold, rather than solely to annual increases in value on paper.
The amending bill has been sent to the Council of State for urgent advice. The amendment is therefore not yet final. Through the change, the government wants to retain support for the broader bill on actual returns in Box 3, which had already been politically and legally controversial.
The practical consequences vary by type of asset. For savings, the interest received is relatively easy to establish. For shares, investment funds, property and crypto, taxpayers must be able to substantiate transactions, purchase prices, sale dates and income. The Tax and Customs Administration already states for the current counter-evidence scheme that income and changes in value across the full portfolio must be reported.
According to the cabinet, Heinen has promised to spare smaller savers and investors. The precise threshold and funding of the measure are still subject to political negotiations. It is also not yet clear how the rules will affect people with highly fluctuating assets or investments that are not sold for years.
The amendment follows the earlier debate on the feasibility of a tax on accrued wealth. Critics fear that taxing paper profits could force people to sell investments to pay the assessment. Supporters of taxation at the point of sale, by contrast, point to a closer link with returns that are actually available, although this could mean that the Treasury receives revenue later.
The cabinet is still aiming to introduce a new Box 3 system on 1 January 2028. That date is not guaranteed. In addition to parliamentary approval, feasibility, IT changes and clear rules for different types of assets will determine whether the timetable remains achievable.
One story, several perspectives
What is established
- The cabinet has adopted an amending bill for Box 3.
- The amending bill moves the proposal towards taxation of capital gains at the point of sale.
- The precise threshold for smaller savers and investors and the funding are not yet final.
Left
Arguments Wants wealth and realised gains to be taxed more heavily, with protection for small savers and attention to wealth inequality. Sees deferring taxation until sale as a possible advantage for investors with limited liquid assets, but warns against new exemptions for large fortunes.
Values Ability to pay, redistribution, protection of small fortunes and public funding.
Consequences Emphasises that insufficient revenue could lead to higher taxes on labour or cuts elsewhere.
Centre
Arguments Seeks a workable system that is legally robust, remains understandable and is not overturned by the courts again. A hybrid model could provide a compromise between annual increases in value and taxation at the point of sale.
Values Legal certainty, feasibility, predictable revenue and equal treatment.
Consequences Is particularly concerned about complex administration, high implementation costs and delays to the introduction.
Right
Arguments Wants to prevent people from having to pay tax on profits that exist only on paper and stresses that saving and investing should not be discouraged unnecessarily. Advocates lower burdens and a broad exemption for small fortunes.
Values Ownership, freedom to invest, simplicity and restrained government intervention.
Consequences Fears that high wealth taxation will drive capital, entrepreneurship and long-term saving to other countries or legal forms.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
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The policy change and procedural status are based directly on cabinet communications. Statements about practical consequences are phrased cautiously and distinguished from political choices that have not yet been decided.
- confirmed The cabinet has adopted an amending bill on Box 3 and sent it to the Council of State for urgent advice. — This is stated in the text of the Council of Ministers' press conference. source
- confirmed The cabinet wants as much capital gain as possible to fall under the new Box 3 system. — Explicitly mentioned by the cabinet. source
- confirmed Under actual returns, income and changes in the value of assets are included. — The Tax and Customs Administration describes this method of calculation. source
- uncertain Introduction on 1 January 2028 is guaranteed. — The national government refers to an aim; parliamentary consideration and implementation have not yet been completed. source
Editor's note
The amending bill, the aim of moving towards more capital gains taxation and the protection of smaller savers have been confirmed by the cabinet. The precise thresholds, funding, implementation and introduction date remain uncertain.Sources
- Letterlijke tekst persconferentie na ministerraad 2 oktober 2026 — Rijksoverheid
- Box 3: werkelijk rendement — Belastingdienst
- Wet werkelijk rendement box 3 — Tweede Kamer
The story so far
- Monday, 5 October 2026, 21:41 Senate discusses speeding up new box 3 system
- Tuesday, 6 October 2026, 15:40 Box 3 plan shifts towards tax on sale (this article)
More on this in Dutch media
- NU.nl — „box 3”
- De Telegraaf — „box 3”
- AD — „box 3”