Dumped savers who did not object to their tax assessment in box 3 will not receive compensation for the excess they paid in taxes. That is what government parties decided earlier this week during budget negotiations, Hague sources report NRC after coverage by RTL Nieuws. Compensating these savers would currently cost too much money: about 7 billion euros in total.
This concerns tax levied on the so-called capital yield tax in box 3, also known as the savings tax. At the end of 2021, the Supreme Court ruled that this tax was not in accordance with European law. Between 2017 and 2020, this was based on a fictitious return on income from savings and investments, and also on a fictitious distribution between savings and investments. As a result, wealthy Dutch people who mainly kept their money in savings accounts paid relatively much tax, while they achieved hardly any return due to the low interest rates.
About 60,000 savers successfully objected to this way of levying taxes, resulting in the Supreme Court ruling. The government has now earmarked 2.8 billion euros to compensate these savers. This was followed by the question of whether savers who had not objected to their tax assessment in box 3 still had to be compensated.
The Supreme Court ruled in May that compensation is not necessary for everyone, although the cabinet says it was still looking at ways to compensate savers. “It is not legally required,” said State Secretary for Finance Marnix van Rij (CDA) earlier. “Yet I also understand the people who indicate that they feel offended in their sense of justice.”
Also read: Objections ‘savings tax’ rejected