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You don't have capital tax? Here in The Netherlands we pay a tax over assets exceeding some value. If you have a million, whether it's sitting a bank, or it's s
by tinco 5y ago
You don't have capital tax? Here in The Netherlands we pay a tax over assets exceeding some value. If you have a million, whether it's sitting a bank, or it's stuffed in your mattress, you have to report it and pay (a small amount of) tax on it.
Afaik we also don't have taxable events, we just have income tax.
- KirillPanov 5y agoThe US does not have a capital tax. The US does have a realized capital gains tax. Assets contained within a mattress are not realized capital gains, no matter how much their value increases while sitting there.
- garmaine 5y agoNo there is no wealth tax, just capital gains. No tax until you sell.