Netherlands Box 3 Plan Could Tax Crypto and Physical Gold at 36% on Unrealized Gains Every Year - CCN.com

The Netherlands is considering changes to Box 3, the portion of its tax system that applies to savings and investments. Under the reported plan, assets including crypto and physical gold could be taxed at up to 36% on unrealized gains, meaning holders could owe tax on paper profits even without selling.

This matters because it shifts the tax trigger from realization to ownership. Most jurisdictions tax capital gains only when an asset is sold, so a levy on unrealized gains would create a recurring annual obligation regardless of whether an investor has cashed out. For volatile assets like crypto, gains in one year could later reverse, leaving a tax bill tied to value that no longer exists.

The proposal is not yet finalized, and the details — valuation methods, thresholds, and timing — remain open questions. What to watch: whether the plan advances into law, how unrealized gains would be measured, and whether other countries follow with similar frameworks.