In the 2022 tax return it was still possible to choose between the new and the old system of box 3 levy. From 2023 onwards this choice is no longer possible which means the new levy is applicable. In this levy, bank accounts are taxed at a lower rate than other assets. The Tax Office assumes a fictitious return on the asset categories; for bank accounts this is 0,92% and for other assets this is 6,17%, and debts reduce this return with 2,46%. The tax-free threshold is calculated with a weighted average rate based on the breakdown of your assets into the different categories. Subsequently the net return is taxed at 32%.

There are still a number of uncertainties regarding the Box 3 levy, including the calculation of the double taxation in the case of foreign real estate. In addition, further court cases are ongoing regarding the consequences and practical effect of the Supreme Court ruling. We are closely monitoring developments and raising appeals where necessary.