Box 3 update: Senate review and practical implementation of actual return relief

May 26, 2026

The draft legislation introducing taxation based on actual return, the Wet werkelijk rendement box 3, was adopted by the Dutch House of Representatives on February 12, 2026 and is still being reviewed by the Senate (Eerste Kamer).

Under the proposed system, box 3 income will generally be taxed based on a vermogensaanwasbelasting, meaning annual taxation of regular income and value changes. However, several senators have raised concerns about the fairness and feasibility of paying tax on unrealized returns. For real estate and certain start-up interests, a vermogenswinstbelasting applies instead, meaning taxation upon realization of capital gains.

The Senate received the government’s response to the Senate report on April 24, 2026 and held two meetings with experts on May 19, 2026. It is still under debate whether losses can be carried back to offset positive returns from prior years. It therefore remains to be seen whether the final system will enter into force in its current form as per January 1, 2028.

In the meantime, the current box 3 relief mechanism remains highly relevant. Taxpayers may use the Opgaaf werkelijk rendement to demonstrate that their actual return was lower than the deemed fictional return. The Dutch Tax Authorities have indicated that the processing of these forms may take considerable time, with the first responses expected in 2026 and in some cases not before 2030.

We will continue to monitor the developments regarding box 3. For more information about box 3 or Dutch personal income tax, please contact our colleague Maarten Tervoort in The Hague.