The Dutch House passed the "Actual Return on Box 3" Act in February.
If it survives the Senate, starting January 2028 the Netherlands would tax actual annual returns on wealth, including unrealized gains, at 36%.
Bitcoin and other digital assets are already classified as Box 3 assets.
Your bitcoin goes up 50%, you owe taxes on that gain without selling. It crashes the next year, you get a loss carry-forward but the prior bill doesn't unwind.
A September 29 cabinet letter proposed that "financial instruments" like shares and bonds would be taxed only on sale from 2028, with other assets following in 2030.
Bitcoin isn't named specifically, but Dutch coverage reads the implication as bitcoin ETPs potentially getting realization-based treatment while directly held bitcoin stays on annual mark-to-market until 2030. That classification isn't confirmed.
If the distinction holds, the form of your bitcoin exposure determines your tax treatment. Not a direct attack on self-custody, but a structure that economically favors intermediated products over holding your own keys.
The bill still needs Senate approval and there's been enough pushback that revisions are expected.
If it survives the Senate, starting January 2028 the Netherlands would tax actual annual returns on wealth, including unrealized gains, at 36%.
Bitcoin and other digital assets are already classified as Box 3 assets.
Your bitcoin goes up 50%, you owe taxes on that gain without selling. It crashes the next year, you get a loss carry-forward but the prior bill doesn't unwind.
A September 29 cabinet letter proposed that "financial instruments" like shares and bonds would be taxed only on sale from 2028, with other assets following in 2030.
Bitcoin isn't named specifically, but Dutch coverage reads the implication as bitcoin ETPs potentially getting realization-based treatment while directly held bitcoin stays on annual mark-to-market until 2030. That classification isn't confirmed.
If the distinction holds, the form of your bitcoin exposure determines your tax treatment. Not a direct attack on self-custody, but a structure that economically favors intermediated products over holding your own keys.
The bill still needs Senate approval and there's been enough pushback that revisions are expected.
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