verified by tax experts

Crypto Tax Netherlands: Advanced Guide [2024]

written by
Florian Wimmer
,
Blockpit CEO & Crypto Tax Expert
Reviewed by
Mag. Georg Brameshuber
,
Crypto Tax Expert & CPA
,
Last Updated:
July 12, 2024

Blockpit employs strict editorial principles to provide accurate, clear and actionable information. Learn more about our Editorial Policy.

Key Takeaways

  • Declare the value that your assets had on January 1st of the tax year under Box 3.
  • Declare income from mining, bounties and the operation of a masternode under Box 1.
  • Optimize your taxes by choosing between two calculation methods in your favor.
  • Deadline for your tax declaration: May 1st of the following year
Table of Contents

Is there a crypto tax in the Netherlands?

Yes, according to the Belastingdienst, the Dutch Tax and Customs Administration, crypto is a taxable asset. Crypto is considered a type of personal asset and taxed like stocks and equities.

How is crypto taxed in the Netherlands?

Crypto assets and cryptocurrencies are taxed on the presumed increase in value from the beginning of the financial year to the end of the financial tax year.

Yes, that means you are taxed for holding cryptos. HODLing is taxable!

However, what is different to most other countries is that you are not taxed directly on the actual gains you make from selling or exchanging cryptos. Relevant is the value of your portfolio on January 1st of the tax year.

Once a year, you pay tax on the fictitious returns from your entire holdings (not just crypto).

Crypto Tax Netherlands: How to report to the Belastingdienst?

Your have to report your taxes into three different boxes. Only the following two are relevant for crypto:

Every box has different tax rates.

One type of income can only fall under one box. That also means that it isn’t possible to offset a loss in one box with a profit in a different box.

Report the value that your crypto had on January 1st of the tax year under Box 3.

In some cases, crypto have to be reported in Box 1:

  • You get paid in crypto.
  • You are day trading.
  • You are mining crypto.
  • You receive rewards from bounties or the operation of a masternode.
How to report crypto tax netherlands

How high is the tax on crypto in the Netherlands?

As mentioned above, crypto has to be declared under Box 1 and Box 3. What does that mean for the tax rate?

<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="eager" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Since a court judgment in 2021, there are actually two different methods for the calculation of box 3 relevant figures. The details can be found below and in the notes of the Blockpit tax report.

The Blockpit report will show figures for both. This way, Blockpit makes it possible for you to choose the most favourable method, thus the method that leads to a lower tax result.</p></div></div></div>

Box 1: Taxable income from work or home ownership

You pay income tax on everything declared in box 1. The personal income tax rates for 2022 lay between 9,42% and 49,50%. Other factors affecting the tax rate are for example your age and if you are retired. Take these figures as a rough estimate.

<figure class="block-table">
<table class="has-fixed-layout">
<thead>
           <tr>
               <th >
                   <strong>Taxable income (EUR)</strong>
               </th>
               <th >
                   <strong>Tax rate</strong>
               </th>
           </tr>
       </thead>
       <tbody>
           <tr>
               <td >until €35.472</td>
               <td >9,42%</td>
           </tr>
           <tr>
               <td >€35.473 – €69.398</td>
               <td >37,07%</td>
           </tr>
           <tr>
               <td >€69.399 and above</td>
               <td >49,50%</td>
           </tr>
       </tbody>
   </table>
   <figcaption>
       Netherlands personal income tax rates. Source:
       <a href="https://taxsummaries.pwc.com/netherlands/individual/taxes-on-personal-income"
          target="_blank"
          rel="noopener">PWC</a>
   </figcaption>
</figure>

Income tax on crypto in the Netherlands

Box 3: Benefits from savings and investments

Your debts and tax-free allowance are deducted from the whole amount of assets, savings and investments (not just crypto) you hold on January 1st. Your fictitious returns are calculated based on the resulting amount.

These fictitious returns are progressive, because the larger your wealth, the bigger the overall returns on that wealth would be.

<figure class="block-table">
<table>
       <thead>
           <tr>
               <th >
                   <strong><strong>Savings &amp; investments</strong></strong>
               </th>
               <th >
                   <strong>Fictitious returns</strong>
               </th>
           </tr>
       </thead>
       <tbody>
           <tr>
               <td >up to 50.651€</td>
               <td >1,818%</td>
           </tr>
           <tr>
               <td >from 50.651€ to 962.351€</td>
               <td >4,366%</td>
           </tr>
           <tr>
               <td >from 962.351€</td>
               <td >5,53%</td>
           </tr>
       </tbody>
   </table>
   <figcaption>
       Fictitious<strong> </strong>returns<strong> </strong>(2022). Source:
       <a href="https://www.belastingdienst.nl/wps/wcm/connect/bldcontentnl/belastingdienst/prive/vermogen_en_aanmerkelijk_belang/vermogen/belasting_betalen_over_uw_vermogen/grondslag_sparen_en_beleggen/berekening-2022/"
          target="_blank"
          rel="noopener">Belastingdienst</a>
   </figcaption>
</figure>

The fictitious returns change each year. For 2022 they lay between 1,818% (for asset values up to 50.651€) and 5,53% (for asset values above 962.351€).

You have to pay a 31% tax on these fictitious returns.

<div fs-richtext-component="info-box" class="info-box"><div class="flex-info-card"><img src="https://assets-global.website-files.com/65098a145ece52db42b9c274/650c6f4cef4c34160eab4440_Info.svg" loading="eager" width="64" height="64" alt="" class="icon-info-box"><div fs-richtext-component="info-box-text" class="info-box-content"><p class="color-neutral-800">Hint: In 2022, you can have assets with a value of up to 50.650€ as an individual, and 101.300€ as a couple, without them being taxed. This amount is deducted from the value of your assets</p></div></div></div>

It’s time for an example:

1. Lotte declared a value of 200.000€ under Box 3. The first 50.650€ are tax-free. That leaves an amount of 149.350€.

2. The first 50.651€ have a fictitious return of 1,818%. The return is 921€.

3. The remaining 98.699€  have a fictitious return of 4,366%. The return is 4.309€.

4. Lotte’s total return is therefore 5.230€.

5. If you apply the 31% tax rate on Lotte’s return you get a total tax liability of 1.621€.

Taxation of Crypto Transactions

Is there a tax on buying crypto in the Netherlands?

No, buying crypto itself is not a taxable event. However, bought crypto is then part of your amount of assets, savings & investments that have to be declared under Box 3. Find more details in the section above.

Is there a tax on HODLing crypto in the Netherlands?

Yes, because crypto you hold is part of your amount of assets, savings & investments that have to be declared under Box 3. Find more details in the section above.

Is there a tax on selling crypto in the Netherlands?

No, there is no crypto tax for selling crypto. However, if you make gains from a sell, this adds to your amount of assets, savings & investments that have to be declared under Box 3.

How are Airdrops taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Airdrops hasn’t been published yet. According to prevailing opinion, you should declare Airdrops under Box 3 as part of your amount of assets, savings & investments.

How is Staking taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Staking rewards hasn’t been published yet. Some sources see it as income resulting in a Box 1 taxation.
We have decided to follow the interpretation in the favor of the taxpayer, not declaring it under Box 1. Rewards from Staking are part of your amount of assets, savings & investments that are declared under Box 3.

Disclaimer: This view depends on the individual case. Alternatively, Staking rewards can be declared under Box 1, as we show the income from staking in our report. Please ask your tax advisor.

How is Lending taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Lending rewards hasn’t been published yet. Some sources see it as income resulting in a Box 1 taxation.
We have decided to follow the interpretation in the favor of the taxpayer, not declaring it under Box 1. Rewards from Lending are part of your amount of assets, savings & investments that are declared under Box 3.

Disclaimer: This view depends on the individual case. Alternatively, Lending rewards can be declared under Box 1, as we show the income from Lending in our report. Please ask your tax advisor.

How is Mining taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Mining rewards hasn’t been published yet. We are declaring Mining rewards under Box 1 in our report.

However, mining on a non-commercial level might not have to be declared here. The tax classification depends on the way activities were carried out and the personal circumstances of the taxpayer, so that a review by the taxpayer or a tax advisor is necessary.

How is Liquidity Mining taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Liquidity Mining hasn’t been published yet. From our point of view, these rewards should be declared under Box 1.

How are Bounties taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Bounties hasn’t been published yet. From our point of view, Bounties should be declared under Box 1.

How are Masternodes taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Masternodes hasn’t been published yet. From our point of view, rewards from Masternodes should be declared under Box 1.

How are Hardforks taxed in the Netherlands?

An official statement from the Dutch tax administration regarding the taxation of Hardforks hasn’t been published yet. From our point of view, Hardforks are part of your amount of assets, savings & investments that have to be declared under Box 3.

How are NFTs taxed in the Netherlands?

In general, NFTs are assets that also have to be declared under Box 3. However, there is an exemption for works of art, which don’t have to be declared. If the underlying asset of the NFT is considered to be a work of art, should be reviewed by the taxpayer or a tax advisor.

Is there a tax on gifting or receiving crypto gifts in the Netherlands?

That depends on the value of the gift and the relationship between the gifting and the receiving person. The general exemption is 3.244€, and 6.604€ if it is between parents and their children, per year. Everything beyond this amount will be taxed.

A gift tax calculator can be found on the website of the Belastingdienst.

How can I optimize my crypto taxes with Blockpit?

There are basically two main advantages of using Blockpit to calculate your crypto taxes.

Choose your calculation method

Since a court judgment in 2021, there are two different methods for the calculation of box 3 relevant figures. Both methods for box 3 calculation are based on year-specific thresholds and tax rates. Also, both methods require distinguishing between savings and other assets in order to apply different fictitious returns to them. We strictly regard fiat assets as savings and digital assets as other assets. 

While the old method assumes a specific distribution of total assets depending on the overall asset value with a greater percentage allocated to other assets (investments) for greater asset values, the new method takes the actual distribution of assets into account. Based on the fictitious returns according to both methods and the given tax rate, the tax amount is calculated. 

The Blockpit report will show figures for both. This way, Blockpit makes it possible for you to choose the most favourable method, thus the method that leads to a lower tax result.

Don’t declare Staking and Lending rewards under Box 1

An official statement from the Dutch tax administration regarding the taxation of Staking rewards hasn’t been published yet. Some sources see it as income resulting in a Box 1 taxation.
We have decided to follow the interpretation in the favor of the taxpayer, not declaring it under Box 1. Rewards from Staking are part of your amount of assets, savings & investments that are declared under Box 3.

Disclaimer: This view depends on the individual case. Alternatively, Staking rewards can be declared under Box 1, as we show the income from staking in our report. Please ask your tax advisor.

Crypto tax optimization with Blockpit

Crypto tax Netherlands Deadlines

The Dutch tax year starts on January 1st and goes till December 31st. The tax season goes from March 1st until May 1st of the following year. During this time, you can declare your taxes in the online tax portal. Don’t miss the deadline!

Automating & Filing Your Tax Report

Blockpit creates the most comprehensive crypto tax reports in PDF format. Our crypto tax reports also contain clear explanations in terms of legal interpretation for submission to the tax authorities. So far, every tax report has been accepted by the tax office without a complaint.

The report provides information about all your balances and transactions and can be used as proof of origin with banks or tax advisors. It contains all relevant transactions of your account in the selected tax year and shows details such as timestamp, amount, asset, costs and fees of the individual transactions.

Crypto tax Netherlands example report

Helpful Links

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Disclaimer: The information provided in this blog post is for general information purposes only. The information was completed to the best of our knowledge and does not claim either correctness or accuracy. For detailed information on crypto regulations, we recommend contacting a certified legal advisor in the respective country.

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