Changes to box 3 system according to Spring Memorandum 2023 in the Netherlands
The Spring Memorandum 2023 (Voorjaarsnota) has been released, providing a budget overview and the Budget Day (Prinsjesdag) predictions. One significant topic discussed is the Box 3 system. This article outlines the Dutch government’s proposed changes and what it means for taxpayers in the Netherlands.
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Changes to Box 3 system (wealth tax)
A highly debated topic is the new Box 3 system based on actual returns in the Netherlands. The government proposes postponing its implementation from 2026 to 2027.
Treatment of share in VvE as savings
Another crucial point is the treatment of the share in VvE as savings. Currently, it falls under “other assets,” resulting in a higher fictional return than savings. The Dutch government proposes placing the share in VvE under the bank deposits asset category, which is more favorable for taxpayers.
Mutual claims and debts no longer required in Dutch tax returns
This applies to claims and debts between fiscal partners and between parents and minor children. This eliminates a too-high fictional return being charged on the claim and a too-low fictional return being deducted from the debt.
Splitting up “other assets” into more asset components
In the current transitional legislation of Box 3, savings, debts, and other assets are separated. The government proposes dividing other assets into three categories: shares, real estate, and other. Each of these categories has its own return, providing more clarity and transparency.
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The changes to the Box 3 system will impact taxpayers’ tax returns in the Netherlands, so it’s crucial to be aware of the proposed changes to prepare for future filings. Need more help? Contact one of our advisors today.