Holding on to definitive assessments and objections with income in box 3

The tax authorities have indicated that the received objections with a box 3 element for the years 2017-2022 and the issuing of definitive assessments for the tax years 2021 and 2022 with a box 3 element will be temporarily suspended until the Supreme Court provides clarity on whether the offered legal rehabilitation is in accordance to the Christmas court verdict. However, the tax authorities will issue provisional assessments for 2021 and 2022.​

If the tax authorities still impose a final assessment based on the current law and your actual box 3 yield is lower than the deemed calculated yield, we advise you to submit a (timely) objection.

The objection letter must include at least a brief explanation. You must state that the actual yield earned was lower than the calculated deemed yield, and you also need to specify the category of assets against your objection is referring to, such as real estate, share or stocks, cryptocurrency, mutual claims, and debts, etc.

A preliminary objection is not sufficient and will not be suspended. You will need to further explain your objection within the statutory deadlines.

More from the HBK Update June 2023

• New (temporary) legislation regarding box 3
• Holding on to definitive assessments and objections with income in box 3
• Restructuring box 3 assets before October 1st (valuation date arbitrage)
• Excessively lending act
• Limitations/Abolition of Business Succession Facilities
• Tax authorities will start checking for pseudo self-employment from 2025
• Convert loss from substantial interest into tax credit
• No tax-free allowance for each day working from home
• Repaying Deferred Tax Payments
• MIA and Vamil
• Reimbursement of costs for assistance with filing income tax return for foreign employees
• Co-operating spouses: Co-operating remuneration or co-operating tax deduction?