The Dutch House of Representatives advances the controversial 36% tax bill, which applies to cryptocurrencies

According to Cointelegraph, the Dutch House of Representatives passed a legislative proposal on February 13, which aims to impose a 36% capital gains tax on savings and most liquid investments, including cryptocurrencies. The proposal was approved with 93 votes, surpassing the 75-vote threshold required for passage.

Under the proposal, earnings from savings accounts, cryptocurrencies, most equity investments, and interest-bearing financial instruments will be taxable, regardless of whether the assets are sold. Certain assets, such as equity in startups and non-investment physical assets, may be exempt. The proposal must be approved by the Dutch Senate before it can take effect, and if passed, it will be officially implemented in the 2028 tax year. Opponents argue that the legislation will drive capital to jurisdictions with more favorable tax policies.

Investor calculations show that an investor who contributes 1,000 euros per month for 40 years will see their final earnings drop from 3.32 million euros to 1.885 million euros under the 36% tax rate, resulting in a difference of 1.435 million euros.