The Tax and Customs Administration will refund unjustly levied money to 60,000 savers no later than 4 August. The cabinet announced this in a letter to parliament on Thursday announced† 2.8 billion euros will be earmarked for this right-of-rights restoration operation. Savers who do not object in time will not receive their money back for the time being.
At the end of December, the Supreme Court ruled that the Tax and Customs Administration had applied an unlawful tax method to some of the savers in box 3. The tax authorities have assumed a fictitious return on income from savings and investments, while the actual return in some cases was virtually negligible due to the low interest on savings.
Also read: Compensating for the wealth tax is a matter of great concern to the House
The cabinet now says that 60,000 savers will automatically get their money back. This concerns people who have lodged an objection in time against the taxation in box 3 for irrevocably determined assessments for 2017 to 2020. There is also a group of savers who, according to the cabinet, have not lodged an objection in time, but who have received the tax assessment. is already established. These taxpayers must await another Supreme Court judgment, which is expected in the autumn.
Spring note
The fact that the cabinet has taken a decision about the ‘restoration of rights’ for the 60,000 savers would have an information technology reason. Now that that decision has been taken before the end of April, the tax authorities can make ‘timely adjustments to the ICT systems’. The automatic repayment to 60,000 savers represents a one-off setback of 2.8 billion euros.
The government is still figuring out where the 2.8 billion euros should come from. State Secretary Marnix van Rij (Fiscality and Tax Authorities, CDA) is trying to resolve this in the negotiations on the Spring Memorandum, which will be presented by 1 June at the latest. Coalition parties D66, CDA and ChristenUnie want this amount to be collected from wealthy people. Van Rij previously stated that the total repair operation will cost between 2.4 and 11.7 billion euros.
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