Is there capital gains tax in the Netherlands?

The Netherlands does not have a separate capital gains tax on shares, funds, or most investment assets. Instead of taxing realised gains, the Dutch system taxes a notional return on net wealth through Box 3.

When you sell shares at a profit, that gain is not taxed as a capital gain. Instead, the value of those assets on 1 January is included in your Box 3 wealth, and the tax is based on a fictitious return on that wealth. The same applies to bonds, ETFs, and most other financial assets.

The absence of a capital gains tax is one reason the Netherlands is considered attractive for certain types of investors. However, the Box 3 wealth tax means you pay tax every year on your assets regardless of whether you realise any gains.

The one significant exception is Box 2, which applies if you own a substantial interest (5%+) in a company. Dividends and capital gains from such stakes are taxed at 24.5% or 33% (2024). This is the closest the Dutch system comes to a capital gains tax, but it only applies to business ownership above the 5% threshold.