New savings tax may take even longer

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New savings tax may take even longer

The introduction of the new wealth tax system may take longer than expected. In an interview with NRC, State Secretary for Taxation Marnix van Rij says that the planned introduction on 1 January may not be achieved. According to him, it is ‘very complicated’ to meet that deadline.

The savings tax system still has to receive approval from parliament and go through various bureaucratic processes. “To be very honest: if the bill is there this summer, and we also want to conduct an internet consultation, and if you then allow a year and a half for the legislative process, it will be very complicated to achieve 1 January 2026,” quoted NRC Van Rij.

DENK party chairman Farid Azarkan even expects that 1 January 2027 will be too early. ‘We had a visit from the Tax and Customs Administration at the committee. They already said a year ago that nothing in the system can be changed before 2027.’ According to Azarkan, this is due to the outdated ICT systems at the tax authorities. They date from the end of the last century. ‘The systems were then built up on which they still run today.’ Azarkan states that it is ‘damn difficult’ to adjust those systems in time.

High cost

The new savings tax system must be introduced because the Supreme Court ended the existing capital tax at the end of 2021. It was mainly based on a fictitious return, which would not correspond to the return that many savers had, namely nothing. In the meantime, a new temporary charging system applies. In this, the assets in savings accounts are separated from the assets that are outstanding through investments, for example. The introduction of this new system costs almost 400 million euros annually, according to Azarkan.

Mountains of complaints

But there are also complaints about this. The Member of Parliament, for example, speaks of more than half a million objections that must be dealt with. ‘That is also one of the causes of the delay, because all those civil servants were partly involved in this. As a result, it is not possible to work on the new system.’

The House of Representatives will debate the savings tax at the beginning of May. ‘I don’t think parliament will accept this planning, but we probably have no choice. We will make every effort to hold the cabinet to the agreements they have written down themselves.’

The introduction of the new wealth tax system may take longer than expected. In an interview with NRC, State Secretary for Taxation Marnix van Rij says that the planned introduction on 1 January may not be achieved. (ANP / Peter Hilz)

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