TLDR
The Netherlands is moving toward a 2028 wealth tax reform that would tax annual crypto gains even if you have not sold, but the plan is not law yet.
- The government has proposed a Box 3 capital-growth system that includes yearly changes in crypto value in taxable income from 1 Jan 2028, subject to Senate approval.
- Dutch residents with Bitcoin and other liquid assets could owe tax on unrealized gains at a proposed 36% rate on Box 3 income, with loss offsets and carryforwards.
- The next key trigger is the Dutch Senate vote; more detail on rates, thresholds and implementation could change how harsh this feels for active crypto users.
Deep Dive
1. What The Proposal Actually Does
Current Dutch Box 3 rules tax many investments using an assumed return on value as of 1 January each year, not your real performance; for crypto in 2026 the assumed return is 6.00% taxed at 36%.
The proposed Box 3 overhaul would switch to a capital-growth model that includes the actual annual change in value of liquid assets like savings, securities and crypto in taxable income starting 1 January 2028, even if you do not sell them.
A TokenPost summary describes a flat 36% tax rate on Box 3 income under the bill, with deductions and loss rules that mean not every dollar of annual gain is taxed at that headline rate. Real estate and certain startup shares would still be taxed when gains are realized rather than annually.
This is a classic mark-to-market system for crypto and other financial assets, but confined to Box 3 wealth tax, not a separate crypto-only regime.
2. Impact On Dutch Crypto Holders
For a Dutch resident holding Bitcoin (BTC) or other coins, a price increase during the year could create taxable Box 3 income even if you continue to hold, while a decline could generate a negative return that can be carried forward to offset future gains.
The proposal also considers limited backward loss relief, which would let some losses be carried one year back, but details are still under discussion and could change before enactment. Under the current system, you already pay tax on crypto based on an assumed return, so the reform shifts the risk from a fictional yield to your real volatility profile.
Long-term holders with volatile portfolios may face bigger year-to-year swings in tax bills, but at least losses would be recognized instead of being ignored under a fixed assumed-return model.
3. Legislative Status And What To Watch
According to the same government-focused reporting, the Dutch House of Representatives approved the bill on 12 February 2026, but the Senate has not finished its review, so the measure is not yet law.
The government has targeted 2028 to give tax authorities and financial institutions time to adapt systems, and both the 36% rate and the exact loss and deduction mechanics can still be adjusted during the remaining legislative process. Other EU states are tightening crypto tax reporting in different ways, such as Spain clarifying when overseas self-custody is reportable, so this fits a broader pattern of closer scrutiny, even if the approaches differ by country.
For anyone with Dutch tax exposure, the decisive events are the Senate vote and follow-up guidance; until those land, this is a significant but still-changeable policy path rather than a final rule.
Conclusion
The Dutch plan would shift crypto from an assumed-return wealth tax to a mark-to-market system where yearly price moves directly affect your Box 3 tax bill, including unrealized gains and losses.
If the Senate approves and 2028 implementation stays on track, Dutch-based crypto investors will need to treat volatility not just as portfolio risk but as a direct driver of taxable income, while watching for final details that may soften or sharpen the impact.
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