Overview
- The House passed the Actual Return in Box 3 Act, shifting from a presumed-return wealth tax to an annual levy on actual investment returns, including unrealized gains, from January 1, 2028.
- The roughly 36% tax will apply to most financial assets such as stocks, bonds, and crypto, while real estate and startup shares will be taxed mainly when profits are realized; rent and dividends remain taxed upon receipt.
- Parliament cut the statutory review period for the rollout from five years to three to enable quicker adjustments if issues arise.
- Until 2028, the current Box 3 system stays in place, taxing a fixed presumed yield at 36% above a €57,684 per-person exemption based on asset values as of January 1.
- Crypto community members warn the new approach could create cash-flow strains and expose investors to volatility risks, as coalition parties signal longer-term plans to draft a realization-based capital-gains model by Budget Day 2028.