Dutch Asset Tax Overhaul Approved: Actual Returns to Replace Fictitious Gains by 2028

The Hague, Friday, 13 February 2026.
On February 12, 2026, the Dutch House of Representatives officially approved a landmark overhaul of the Box 3 asset tax regime, scheduled for implementation on January 1, 2028. This legislation marks a critical shift from taxing controversial fictitious returns to levying taxes on actual value increases. However, the most intriguing aspect of this reform is its precarious political standing; while the law introduces a capital growth tax on unrealized “paper” gains, a majority of lawmakers simultaneously demanded a transition to a realized gains tax before the 2028 start date. Consequently, while this vote aims to resolve a decade of legal disputes regarding fairness, it effectively establishes a legislative placeholder, leaving the final taxation method for stocks and cryptocurrencies in a state of flux.