Please note (updated 17 October 2026): This analysis was originally prepared on the basis of the legislative position in August 2026. The Dutch House of Representatives adopted the proposed Actual Return in Box 3 Act (Wet werkelijk rendement box 3) on 12 February 2026, but the legislation is not yet final. The government has since published a draft amending bill (novelle) proposing a significant change: from 2028, the proposed capital gains tax on realisation (vermogenswinstbelasting) would apply not only to real estate and certain start-up investments but also to financial instruments, including shares, bonds, investment funds and derivatives. For certain other assets, including bank balances, directly held cryptoassets and some receivables, annual taxation of changes in value (vermogensaanwasbelasting) would provisionally remain in place. The government is aiming for parliamentary consideration of the novelle in November 2026, with a vote in the House of Representatives envisaged for 12 November; that timetable and the final content remain subject to change. The proposals may materially affect the comparison between investing privately in Box 3 and through a BV. This analysis will be updated as soon as the legislative position is sufficiently clear and the consequences can be assessed reliably. Until then, the calculations and assumptions below should be read as illustrative and based on the legislative proposals identified in the relevant sections.

When acquiring real estate, Dutch real estate transfer tax (RETT) is often payable, and in some cases value added tax (VAT) as well. This is not limited to purchasing a home or commercial building. The acquisition of economic ownership and the acquisition of shares in a real estate company may also trigger real estate transfer tax.