This seems unfair. If someone has money, the government wants it. Is this sound tax policy or just government greed? Will it pass the next step?

Dutch Lawmakers Approve a 36% Tax on Unrealized Crypto, Stock, and Bond Gains

https://www.imidaily.com/europe/dutch-lawmakers-approve-a-36-tax-on-unrealized-crypto-stock-and-bond-gains/

The Dutch House of Representatives on Thursday voted to pass the Actual Return in Box 3 Act (Wet werkelijk rendement box 3), a reform that will tax residents at a flat rate of 36% on the actual returns they earn from savings and investments, effective January 1, 2028. 

The bill replaces a system that taxed investment income based on assumed returns, a framework the Dutch Supreme Court ruled unconstitutional in a series of decisions beginning in December 2021.

I suggest that to tax actual returns rather than assumed returns seems not unreasonable.

36% is a high rate, but as ever the arguments are that such tax rates serve to fund a comprehensive health and welfare system.

A flat rate will hit the very rich! Coo, could you imagine the shrieks from the front row of the last US Presidential Inauguration!

What about those who have hidden crypto on offline hard wallets ?

7 minutes ago, JAG said:

I suggest that to tax actual returns rather than assumed returns seems not unreasonable.

36% is a high rate, but as ever the arguments are that such tax rates serve to fund a comprehensive health and welfare system.

A flat rate will hit the very rich! Coo, could you imagine the shrieks from the front row of the last US Presidential Inauguration!

The problem is that unrealized gains are taxed. If you gain 10% between January 1 and December 31st, you will be taxed on it even though the money is still in your assets. When January 5th the next year everything drops 20%, you will lose the taxes paid over the 10%of the previous year and you'll loose on the 20% drop in asset value.

People might have to sell investments just to pay their taxes on it 🤷🏼‍♂️

Tax policy has two purposes: one is obviously to fund the government, while the second is to try to direct capital into areas useful to society as a whole. Usually the latter is abused by special interests and lobbyists, such as tax breaks for race horse breeding. Mostly, however, encouraging capital to move into corporate investment, as well as favorable tax treatment of capital gains, leads to job creation and product/service innovation.

Taxing unrealized gains on stocks and bonds is counterproductive to the second goal of tax policy. Bad idea, for a host of reasons.

Taxing unrealized gains on crypto might seem unfair, but it does no harm whatsoever to society as a whole. The primary use of crypto---despite claims to the contrary---is crime. Money laundering, ransom, terrorist financing, even pedo criminality all use crypto. Precious little actual commerce is driven by crypto, and certainly nothing not done easily via cash. Criminals benefited from the speculative frenzy in crypto, but wider society has gotten no benefit at all, and since criminals have benefited, crypto is a net negative to society.

15 hours ago, Wingate said:

Taxing unrealized gains on stocks and bonds is counterproductive to the second goal of tax policy. Bad idea, for a host of reasons.

This is accurate. Imagine having to sell stocks just to pay a 36% tax.

Well the Dutch people seem to accept such absurd rules from their leaders...so what to say ? If not, hit the streets and protest.

4 minutes ago, Sigmund said:

Well the Dutch people seem to accept such absurd rules from their leaders...so what to say ? If not, hit the streets and protest.

Voters fail to connect their vote to policy outcomes. This disconnect allows ineffective leaders to be reelected repeatedly.

8 hours ago, Fact said:

Voters fail to connect their vote to policy outcomes. This disconnect allows ineffective leaders to be reelected repeatedly.

This is a proposal from the government that got voted out. The one with the PVV in it

It only affects the rich, there's a threshold. Estimations are that maybe a handful of special investors will have to sell in order to pay taxes.

The article doesn't present the factual situation.

On 2/19/2026 at 9:45 AM, Wingate said:

The primary use of crypto---despite claims to the contrary---is crime. Money laundering, ransom, terrorist financing, even pedo criminality all use crypto. Precious little actual commerce is driven by crypto, and certainly nothing not done easily via cash. Criminals benefited from the speculative frenzy in crypto, but wider society has gotten no benefit at all, and since criminals have benefited, crypto is a net negative to society.

But but, but... They told me bitcoin was going to $1,000,000. Did they lie? Oh no,, I'm doomed.

On 2/18/2026 at 9:33 PM, Fact said:

This seems unfair. If someone has money, the government wants it. Is this sound tax policy or just government greed? Will it pass the next step?

Dutch Lawmakers Approve a 36% Tax on Unrealized Crypto, Stock, and Bond Gains

https://www.imidaily.com/europe/dutch-lawmakers-approve-a-36-tax-on-unrealized-crypto-stock-and-bond-gains/

The Dutch House of Representatives on Thursday voted to pass the Actual Return in Box 3 Act (Wet werkelijk rendement box 3), a reform that will tax residents at a flat rate of 36% on the actual returns they earn from savings and investments, effective January 1, 2028. 

The bill replaces a system that taxed investment income based on assumed returns, a framework the Dutch Supreme Court ruled unconstitutional in a series of decisions beginning in December 2021.

That is really screwed up. That beats California for "Stupid Legislation of the Year Award." So if a stock or crypto tanks, can people write off 36% of the loss - I bet not.
Now watch the exodus from the Netherlands.

31 minutes ago, connda said:

Now watch the exodus from the Netherlands.

LOL.

There used to be an estimated return. The highest court deemed that unconstitutional, so they're changing to a tax on the real return. Let's say stock portfolio of 100k, return 10%, so 36% tax means 3600 Euro. Treshold for a couple is 3600 Euro, so no taxes on the investment return.

On 2/18/2026 at 9:33 PM, Fact said:

This seems unfair. If someone has money, the government wants it.

10 hours ago, Sigmund said:

Well the Dutch people seem to accept such absurd rules from their leaders...so what to say ? If not, hit the streets and protest.

In the Netherlands, not the government, but the entire community demands that citizens contribute to the welfare system and, more recently, also to the rearmament of the Country.
I have had the privilege of living and working there for many years, and I can assure you that public services, starting with healthcare, are first-rate and guaranteed to all citizens, rich and poor.

But if you're American, you're right to be suspicious: The Netherlands is eighth on the list of the least corrupt countries in the world, with a score of 78/100. The United States is only 29th with a score of 64/100, which is worsening year after year.

In the Netherlands, paying taxes makes you a good citizen and a good neighbor.

In the United States, paying taxes is for suckers, or, to use Donald Trump's words paying no federal income "makes me smart".

49 minutes ago, stevenl said:

LOL.

There used to be an estimated return. The highest court deemed that unconstitutional, so they're changing to a tax on the real return. Let's say stock portfolio of 100k, return 10%, so 36% tax means 3600 Euro. Treshold for a couple is 3600 Euro, so no taxes on the investment return.

Sorry, my calculation wasn't correct. In the example the return is 10000 euro. The threshold has to be deducted from that 10k, so 6400 Euro will be taxed. At 36 percent that's 2304 Euro taxes.

On 2/19/2026 at 8:11 AM, Krabi King said:

The problem is that unrealized gains are taxed. If you gain 10% between January 1 and December 31st, you will be taxed on it even though the money is still in your assets. When January 5th the next year everything drops 20%, you will lose the taxes paid over the 10%of the previous year and you'll loose on the 20% drop in asset value.

People might have to sell investments just to pay their taxes on it 🤷🏼‍♂️

... aye, that's the problem, mf'ers participate on some gains existing only in the books but eff you sideways if you cop a loss.

Have seen it elsewhere but like 10% lower, in the mid twenties ...

Now, if you later sell in minus it becomes an even bigger minus but here's how it should work if you indeed gain a profit:

All this tax is added to your initial cost of purchase which later reduces your taxable gains - again, always provided you're in plus at that point in time ...

Dutch Lawmakers Approve a 36% Tax on Unrealized Crypto, Stock, and Bond Gains

https://media2.giphy.com/media/NoPNkgzHD8HSK6Nr5l/200.gif?cid=d9f52f32rjbjn41xldqjeght89blsldxxyv563qzywv4bnqq&ep=v1_gifs_trending&rid=200.gif&ct=g

This video showed up on YouTube.

11 hours ago, AndreasHG said:

In the Netherlands, not the government, but the entire community demands that citizens contribute to the welfare system and, more recently, also to the rearmament of the Country.
I have had the privilege of living and working there for many years, and I can assure you that public services, starting with healthcare, are first-rate and guaranteed to all citizens, rich and poor.

But if you're American, you're right to be suspicious: The Netherlands is eighth on the list of the least corrupt countries in the world, with a score of 78/100. The United States is only 29th with a score of 64/100, which is worsening year after year.

In the Netherlands, paying taxes makes you a good citizen and a good neighbor.

In the United States, paying taxes is for suckers, or, to use Donald Trump's words paying no federal income "makes me smart".

Regardless of how you try to present it, this is a poor idea.

7 hours ago, jollyhangmon said:

... aye, that's the problem, mf'ers participate on some gains existing only in the books but eff you sideways if you cop a loss.

Have seen it elsewhere but like 10% lower, in the mid twenties ...

Now, if you later sell in minus it becomes an even bigger minus but here's how it should work if you indeed gain a profit:

All this tax is added to your initial cost of purchase which later reduces your taxable gains - again, always provided you're in plus at that point in time ...

What if an "open position" showing a profit, turns into a loss, shorthly after having paid the tax? What then?

2 hours ago, Fact said:

Regardless of how you try to present it, this is a poor idea.

SCOTUS just ruled that tariffs too were a poor idea. Worse than a poor idea: the ruling states that they are an illegal tax.

At least the Dutch tax was approved through due process.

14 hours ago, Fact said:

Regardless of how you try to present it, this is a poor idea.

In your eyes surely, since it limits unfettered capitalism without social responsibility.

On 2/20/2026 at 10:30 PM, swissie said:

What if an "open position" showing a profit, turns into a loss, shorthly after having paid the tax? What then?

Deduct next year?

On 2/21/2026 at 12:24 AM, stevenl said:

In your eyes surely, since it limits unfettered capitalism without social responsibility.

I have no social responsibility to anyone outside of my family.

On 2/20/2026 at 12:31 PM, AndreasHG said:

SCOTUS just ruled that tariffs too were a poor idea. Worse than a poor idea: the ruling states that they are an illegal tax.

At least the Dutch tax was approved through due process.

SCOTUS did not rule that tariffs are a poor idea; rather, it ruled that the POTUS could not exercise emergency powers to enact them.

21 hours ago, FritsSikkink said:

Deduct next year?

That is in plan, but it is not the best option for the investor.

2 hours ago, Fact said:

SCOTUS did not rule that tariffs are a poor idea; rather, it ruled that the POTUS could not exercise emergency powers to enact them.

At least the Dutch tax was approved through due process.

8 hours ago, Fact said:

I have no social responsibility to anyone outside of my family.

I feel sorry for you.

10 hours ago, Fact said:

I have no social responsibility to anyone outside of my family.

Missing that empathy gene, are you? (That's the new deranged righty meme: "empathy is wrong".) Oh, and the honesty gene, too....seems you are missing that.

I bet you think you're a totally self-made man. LOL.

Decent people know they stand on the shoulders of those who came before them, and feel they owe something back to the society that created them. So much in life is owing to an accident of birth......where and when you were born, who your parents are, what genes for things like intelligence, looks and athleticism you inherited, etc.

Silly people think they pulled themselves up solely by their own bootstraps and owe nothing to greater society or the world.

The good news for those in crypto is that Trump's tariff tantrum is taking another bite out of crypto. Bitcoin is down to $64500 this morning, so lots of those unrealized gains have morphed into unrealized losses.

Funny we used to have a saying on the trading desk:

"A paper gain is a paper gain, but a paper loss is real money."

On 2/21/2026 at 12:24 PM, stevenl said:

In your eyes surely, since it limits unfettered capitalism without social responsibility

Social responsibility enough I'd say when you pay up to 48% income tax, capital gains tax, VAT, inheritance tax (over money that was taxed already), and on and on. The EU asked people to invest more instead of just save. And then you get this? You don't seem to have a clue what this means. Capital will leave The Netherlands. They're shooting themselves in the foot and they actually know it. But there's no better alternative, they say. 🤦🏼‍♂️

On 2/20/2026 at 10:30 PM, swissie said:

What if an "open position" showing a profit, turns into a loss, shorthly after having paid the tax? What then?

Then that's your loss... Exactly that is why this is a poor idea. Losses can not be deducted later. If you make profit, the government takes its share, if you lose then that is too bad for you.