Dutch House of Representatives advances controversial 36% tax law

Certain assets, like equity in a qualifying start-up company and physical property used for non-investment, were exempt from the 36% tax.

The Netherlands’ House of Representatives advanced a legislative proposal on Thursday to introduce a 36% capital gains tax on savings and most liquid investments, including cryptocurrencies.

The legislation reached the 75-vote threshold required to advance, with 93 lawmakers voting in favor of it, according to the House tally.

Under the proposal, savings accounts, cryptocurrencies, most equity investments and gains made from interest-bearing financial instruments are subject to the tax, whether or not the assets are sold.

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