Surprise in coalition about box 3 resistance VVD: ‘What is our signature worth?’ † Inland

VVD MP Idsinga put his heels in the sand against the capital gains tax, which the cabinet envisions as the ultimate successor to the ‘savings tax’ torpedoed by the Supreme Court. Idsinga believes that Van Rij has expressed his preference far too soon for this variant, which he believes can lead to ‘distressing situations’, because people are also taxed on paper profits for which they may not have enough money to pay for that assessment. Idsinga wants the alternative, a capital gains tax, to be looked at more extensively.

Idsinga’s resistance led to surprise among coalition members D66 and CU in the debate on the future of box 3 on Wednesday. “I was shocked by it,” says D66 MP De Jong. He finds Idsinga’s attitude ‘curious to say the least’ and points to the coalition agreement, in which the parties have agreed to tax the actual return on capital from 2025. “What is the VVD’s signature worth?”, De Jong wonders. The D66 member points out that looking for other options will result in a ‘substantial delay in the process’.

‘Theoretically superior’

CU MP Grinwis says he is ‘concerned about how consistent the VVD’s input is’. According to him, the capital gains tax that Van Rij is pre-sorting is ‘theoretically superior’. Opposition parties are also concerned about delays due to the VVD’s wishes. According to SP Member of Parliament Alkaya, introduction in 2025 is ‘in doubt’. PvdA MP Nijboer also fears this and points out that until the introduction of a new wealth tax, the Tax Authorities will have to make do with an emergency law that has already been described by officials as a ‘legal black box’. Nijboer calls it a ‘rattling Trabant that will have to drag us through the coming years’.

State Secretary Van Rij himself says that he understands the questions from VVD member Idsinga. After the summer, the minister will send a letter in which the different options for wealth tax are compared. But between the lines, he hints that he has little appetite to change course. “There is something to be said for both options, both are not ideal. But there are simply more disadvantages to the capital gains tax.”

Rarely occurs

According to the State Secretary, people have no money to pay tax on paper profits: “99.3% of the taxpayers in box 3 have sufficient liquid assets. But if that does happen, we will of course have to make a payment arrangement for it.”

The concerns of officials that it will be very difficult to set up a new box 3 system by 2025, Van Rij shares. Whether this will succeed, he says, is ‘uncertain’: „It will be a hell of a job become.”

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