Interview
What the tax office actually expects
Crypto taxation in the Low Countries is two different stories. We spoke with tax adviser Marit Bosman about the practical differences between the Netherlands and Belgium, and the records both systems assume.
In conversation with
Marit Bosman — Fiscalist, een middelgroot advieskantoor
Where is the biggest misunderstanding?
Bosman: 'People think the Netherlands taxes profit. It does not: box 3 taxes wealth on a reference date, not the gain you make along the way. Selling in December and buying back in January changes little.'
'In Belgium the question is whether you behaved as a prudent private investor. A calm, long-term position generally stays untaxed, while speculative trading can be taxed as miscellaneous income and professional trading falls under the highest rates.'
Two systems side by side
Simplified illustration; your own situation always decides.
| Netherlands | Belgium | |
|---|---|---|
| Basis | Wealth on the reference date | Nature of the management |
| Timing | 1 January | Continuous, per transaction |
| Normal management | Box 3 levy on wealth | In principle untaxed |
| Speculative | No separate regime | Miscellaneous income, 33% plus local surcharges |
| Professional | Box 1 when trading as a business | Progressive rates |
Which records do you really need?
Bosman: 'For the Netherlands a supported value on 1 January is the minimum, but in practice you want more: a full transaction export, balances per platform and wallet, and the price source you used.'
'For Belgium the history matters even more, because the discussion is about the nature of your management. Someone who can show two purchases a year and nothing else stands stronger than someone with only a closing balance.'
Investors spread across several platforms often forget the smallest account. That missing item is exactly what forces a painful reconstruction later.
- Full transaction export per platform, stored yearly
- Balances and addresses of your own wallets
- One fixed price source with timestamps
- Proof of source of funds for large deposits
What does a portfolio keep?
An example makes the difference concrete. Take a 50,000 euro portfolio that gains 20 percent in a year, and compare three situations.
Example on 10,000 euro of paper gains
Illustrative, ignoring allowances, deductions and your personal rate.
- NL, box 3
- ≈ €1,000
- BE, normal management
- €0
- BE, speculative
- ≈ €3,300
Levy on wealth, not on the gain
Gain in principle untaxed
33% on the realised gain
What would you change?
Bosman: 'Clarity on what normal management means. Today the outcome depends on how a file is read, which is unworkable for an ordinary saver. A simple test with clear criteria would remove most of the argument.'
'I would also like platforms to deliver a standardised annual tax statement. The data already exists; it is a matter of format.'
Vanliga frågor
Do I pay Dutch tax on crypto gains?
Not directly. Box 3 taxes the value of your wealth on the reference date, regardless of the gain or loss you made.
When is a Belgian gain taxed?
When the tax office regards your activity as speculative or professional. Normal management of private wealth stays untaxed in principle.
How long should I keep my transaction history?
Assume several years, and export yearly so you never need to reconstruct anything.
About the author
Veerle sprak jarenlang met vermogensbeheerders en pensioenfondsen. Ze schrijft over institutionele adoptie, custody en risicobeheer.