New Box 3 Plans Affect Crypto Taxation

Dutch crypto investors are concerned about taxes on unrealized capital gains. The cabinet proposes to start taxing profits only upon the sale of many financial products from 2028. It is uncertain whether this also applies to directly held bitcoin and other cryptocurrencies. In 2027, the cabinet aims to lower the tax-free asset threshold to 30,846 euros per person and increase the assumed yield on other assets, including crypto, by 1.5 percentage points. This could lead to crypto holders paying taxes sooner. The plans are not yet law, and the treatment of crypto needs to be clarified in the new legislation. From 2028, capital gains tax will apply to stocks and bonds, where capital gains only count upon sale. Crypto is not mentioned separately, leaving the status of direct ownership of bitcoin and other coins unclear. Directly purchased crypto may be taxed annually on unrealized capital gains. Additionally, the cabinet wants to lower the exemption to the first 1,000 euros of annual results, which could result in an additional 850,000 Dutch people in Box 3.

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