Your options explained

The Dutch Supreme Court's ruling that the way in which assets are taxed in Box 3 is not lawful obviously has consequences for savings tax. In 2026, there must be a new system in which the capital gains tax is more in line with the actual return on capital. Until then, measures have been taken. This has consequences for the declaration for 2022 and the provisional assessment for 2023.  Read which ones here.

Compensation scheme Box 3: what happened again?

In December 2021, the Supreme Court ruled that levying so-called savings tax is contrary to the law. The levying of this capital return by the tax authorities leads to savers paying tax on a fictitious return on their assets, which was often (much) higher than the actual return. The actual return – the court decided – and not a fictitious return – must be taxed.

Tax return 2022

The tax return for 2022 is imminent. If you have capital, the return can be taxed in Box 3. To prevent you from paying more tax on returns than your actual return, the Tax and Customs Administration has developed a temporary method that is included in the return: You (or on your behalf, the accountant) may make a choice between two options;  the old or a new  -temporary- way of taxing. The declaration program will find out which one is most advantageous for you.

Option 1: fictitious return

The return first calculates how much tax you pay on the return on capital according to the way that was used in the past. The Tax and Customs Administration assumes a fictitious return that you would have achieved by partly investing and partly saving. It is assumed that the larger your capital is, the higher the return achieved. You pay 31% tax on the fictitious return that is calculated on your assets in 2022.

Option 2: distinguish savings, assets and debts

Beside the first option, a new (temporary) method is used to determine how much tax you would have to pay on your assets. This method is more complicated than the previous one, because it looks at the actual distribution of your assets. Your savings, other assets/investments and debts are mapped out. The Tax and Customs Administration will determine- no later than 28 February 2023 - which return is realistic about these three groups. For the time being, the expected percentages are 0.01% on savings, 5.53% on other assets and 2.46% on debts. For example, savings are taxed much lower than other assets (such as investments) and savers pay a lower amount (because lower return) than investors (with a usually high return). And because the return on debt is subtracted from the return on capital, a more realistic picture is created of the actual return achieved. This is the part on which 31% tax (capital gains tax or savings tax) must be paid in 2022, provided that the calculated balance is lower than in the old method.

Please note: The term 'new method' seems to refer to future declarations, but the above regulation of 2023 -though new- is not yet definitive. The actual return needs to be refined and will assumingly take effect from 2026. Until then, temporary loading methods will be put into operation.

Capital gains tax: provisional assessment 2023

The box 3 income on   the provisional assessment 2023 has been calculated using the new calculation method.  It is therefore based on the  actual distribution of your assets, using the following provisional rates of return: 0.36% on  savings, 6.17% on investments and  other assets and 2.57% on debts.   The final percentages  for 2023 will be determined at the beginning of 2024.  

Tax-free capital

There is a tax-free rate for the capital gains tax: no tax has to be paid on assets up to € 50,650. The savings tax to be levied as described above therefore only applies to assets that are higher than the tax-free rate.  In other words, you can deduct the assets by € 50,650 in 2022 to arrive at the taxable capital. In 2023, the tax-free capital will increase to € 57,000. At the same time, the tax rate on taxable assets will increase by 1% as of 1 January 2023.

Further information

Would you like to know more about the (new) regulations concerning capital gains tax? This webpage of the Dutch Tax Authorities is a good starting point. Do you need further help with your tax return declaration, or require advice on Dutch tax regulations? Don’t hesitate to contact us! We are happy to be of service.