videoThe cabinet has already indicated that it has ‘little choice’, but has now officially declared the objections of 200,000 savers against the savings tax to be well-founded. ‘In what form, when and to what extent’ they will be compensated, the cabinet only has to find out, says State Secretary Marnix van Rij of Fiscality.
economics editors
Latest update:
04-02-22, 18:58
,,We have six months for that, which is also what the law prescribes. We will handle that carefully,” said the minister. He had already announced that he would take that time to find out more. This is the capital gains tax. People with savings or other assets (such as shares or a second home) in box 3 were taxed on a ‘notional’ return.
For savers, that fictional return was much higher than what they earned on their assets. So they actually paid tax on income they didn’t have. Cases have been brought against the savings tax for years. The Supreme Court decided in December that savers in a massive objection procedure are not only right, but also entitled to ‘redress of rights’.
Complicated puzzle
This concerns tens of thousands of objections per year between 2017 and 2020. The cabinet will now work on the ‘complicated puzzle’ of compensation. According to Van Rij, the ‘principle/remains that the compensation is paid from ‘the type of tax where the problem arose’, ie tax on capital. But, ‘I have to be really careful about that’, the State Secretary emphasized in the House of Representatives earlier this week.
Now that the objections have been upheld, the most important question is how much compensation the affected savers will receive. In addition, there is also the question of whether others in the same situation – who have not objected – should also be compensated. Moreover, it is still unclear who should carry out the major repair operation – the Tax and Customs Administration itself has been struggling with major problems in implementation for years. In any case, the recovery operation will be very expensive.
‘Important milestone’
Jurgen de Vries, chairman of the Bond for Taxpayers, calls Friday’s formal step an ‘important milestone’. According to him, it is now really certain that the 200,000 savers concerned are eligible for compensation. He understands that it is ‘quite difficult’ to arrange compensation for such a large group.
That is why, on behalf of his organization, which has been waging a legal battle over this issue for years, he offers assistance to the government if it is needed. Furthermore, De Vries emphasizes that there is still good hope of compensation for victims other than the objectors. He refers to the broad support in the House of Representatives during a debate earlier this week to also compensate those people.
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