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Box 3 - current developments
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On 24 December 2021, the Supreme Court ruled that the way in which box 3 taxation is structured since 2017 is contrary to both the prohibition of discrimination (Article 14 of the ECHR) and the right to peaceful enjoyment of property (Article 1 of Protocol 1 to the ECHR). The legislator offered legal redress by means of an alternative calculation of returns based on the so-called flat-rate savings variant.
On 6 June 2024, however, the Supreme Court ruled that this legal redress also fails to stand up to scrutiny. In particular, the calculation of returns on other assets is still discriminatory. A significant difference in tax treatment between successful and less successful investors continues to exist, without sufficient justification. This also applies to the Box 3 Bridging Act, as it is based on the same principles. In response, the legislator introduced a retroactive rebuttal scheme based on actual returns in box 3.
Then, in May 2025, the ‘Actual Return Box 3’ bill was tabled. This proposal provided for a combination of a capital gains regime for immovable property and shares in start-ups and scale-ups, and a capital growth regime for other assets. However, the bill faced stiff resistance in the Senate. This prompted the government to announce an amendment on 29 September 2026, according to which immediately upon the Act’s scheduled entry into force in 2028, financial instruments, too, would be taxed on the basis of capital gains. By 2030, all assets and debts would classify under the capital gains regime.
