Dutch House Advances 36% Tax on Savings and Crypto, Targets 2028

The Netherlands House of Representatives on Thursday voted 93-75 to advance legislation imposing a 36% capital gains tax on savings and most liquid investments, including cryptocurrencies, with implementation targeted for the 2028 tax year, according to the official tally. The bill, which still requires Senate approval, would apply to bank savings, crypto holdings, most equities and returns from interest-bearing instruments, with the levy assessed even on unrealized gains. Critics warn the policy could spur investor relocation and capital outflows; entrepreneur Denis Payre cited France in the late 1990s after similar policies, and crypto analyst Michaël van de Poppe called the plan misguided. Data shared by Investing Visuals show an investor starting with €10,000 and contributing €1,000 monthly over 40 years could accumulate roughly €3.32 million without the tax, while under the proposed 36% levy the ending value would be about €1.885 million, a reduction of roughly €1.435 million.