Changes to taxation of box 3

2 May 2022 – Following the Christmas ruling by the Supreme Court on the current box 3 system, the State Secretary of Finance sent a memorandum to the Second Chamber on Friday, April 15, outlining the contours of the new box 3 system. This memorandum introduces a capital gains tax, in which the actual return achieved on assets in box 3 is taxed. In this update, we will discuss the proposed changes that may be of importance to box 3 taxpayers (i.e. anyone with more than €50,000 in box 3 assets).

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