Dutch Minister Signals Changes to 36% Crypto Tax Before 2028 Rollout

Highlights:

• Heinen says the Box 3 reform must change before lawmakers move it forward in the Senate.
• The crypto tax plan would apply a 36% levy on annual gains even without asset sales.
• The Senate review will determine whether the revised Box 3 framework becomes law before 2028.

Dutch Finance Minister Eelco Heinen said the proposed overhaul of the Netherlands’ Box 3 tax, which introduces new rules for crypto holdings, cannot proceed in its current form. He made the remarks during an interview with RTL Nieuws after the House of Representatives approved the reform last week. The proposal would change how savings, equities, and crypto assets are taxed beginning in 2028. Nevertheless, Heinen asserted that legislators need to amend the draft before progressing.

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JUST IN: Dutch Cabinet is considering to #change the bill which will impose 36% tax on unrealized gains, per report. #crypto

— CryptOpus (@ImCryptOpus) February 25, 2026

Heinen affirmed that he has already discussed with his State Secretary the possibility of reopening negotiations. He has not decided whether lawmakers will amend certain provisions or rewrite the legislation entirely. The law is scheduled to take effect on January 1, 2028. The Senate must still review and approve the proposal before it becomes law.

The parliament also shortened the review period from five years to three years. Lawmakers want to make adjustments more quickly if implementation issues arise. Several parties that voted in favor of the bill said they remain uneasy about taxing annual value increases that investors have not realized in cash.

Crypto Tax Raises Concerns Over Paper Gains

The reform replaces the previous Box 3 system that relied on assumed returns. According to the new structure, actual annual returns on savings and investments will be taxed at a flat rate of 36%. The tax will include income like interest, dividends, and rental payments. It will also extend to annual gains in the value of financial assets.

If a Dutch resident holds shares that rise by €10,000 over one year, the tax authority will treat that increase as taxable income. The investor does not need to sell the shares for the gain to become taxable. The same approach applies to cryptocurrency holdings under the Crypto Tax structure. Investors must report annual appreciation even when they keep the assets.

The reform introduces a tax-free annual return threshold of €1,800. If total annual returns remain below that level, investors will not owe tax. The law also allows investors to carry forward net losses without time limits if losses exceed €500. Losses below €500 do not qualify for carry-forward treatment.

Other countries are also reviewing their crypto tax policies. Japan is advancing a flat 20% tax on cryptocurrency profits as part of its 2026 tax overhaul. Lawmakers there want to align crypto taxation with equities and investment trusts. Indonesia has also introduced new measures under regulations No. 50/2025 and No. 53/2025. Authorities raised tariffs on crypto transactions and mining while granting tax relief to purchasers to encourage activity on domestic exchanges.

In the United States, 18 bipartisan House lawmakers have urged the Internal Revenue Service to review cryptocurrency staking tax rules before 2026. The lawmakers sent a letter to Acting Commissioner Scott Bessent requesting updated guidance on what they described as burdensome rules.

💥BREAKING:

🇺🇸 HOUSE LAWMAKERS INTRODUCE NEW CRYPTO TAX BILL:

• STABLECOIN PAYMENTS UNDER $200 TAX-FREE

• STAKING & MINING TAX DEFERRAL UP TO 5 YEARS

• CRYPTO TAX RULES ALIGNED WITH SECURITIES LAW

• WASH TRADING LOOPHOLES TARGETED pic.twitter.com/N4z9ncdvWR

— STEPH IS CRYPTO (@Steph_iscrypto) December 21, 2025

Court Ruling Led to Reform, Senate Still Must Decide

The Dutch Supreme Court overturned the previous Box 3 system in December 2021. The court ruled that taxing hypothetical returns violated property rights. Judges found that the structure unfairly assessed income during years of low interest rates.

In the old regime, the government used a fictitious turnover to assess taxes instead of real income. Taxpayers were required to repay money even in cases where their investments yielded low results. The rulings compelled the government to develop a legally binding substitute.

Lawmakers drafted the actual return model to replace the invalidated system. The House of Representatives approved the proposal last week. The Senate will now examine the legislation before holding a final vote. Heinen said discussions with lawmakers will continue before that stage.

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