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The 0.01% is temporary/new, due to the wealth tax declared illegal by the European Supreme Court. This link explains the situation around the "Box 3" wealth tax
by erwincoumans 4y ago
The 0.01% is temporary/new, due to the wealth tax declared illegal by the European Supreme Court. This link explains the situation around the "Box 3" wealth tax better: https://www.tilburguniversity.edu/magazine/supreme-court-netherlands-rules-box-3-wealth-tax https://www.tilburguniversity.edu/magazine/supreme-court-net...
“In 2001, the legislature assumed that everyone could easily earn a 4% return on their assets in Box 3 – regardless of how they were invested – without taking any risk, but this has certainly not been the case since 2008. Savings rates have yielded much less interest, as have bonds, with interest rates as low as 0%. At the moment, we’re even seeing negative interest rates. But the legislature never adjusted that assumed 4% return. This resulted in a situation where, for many years, the wealth tax people paid far exceeded their actual income from wealth"