It s not passed yet but still

Dutch Parliament Member Michel Hoogeveen outlined how the newly approved 36% tax on unrealized capital gains would apply in practice. In his example, 500 shares rise in value from €50,000 on Jan. 1, 2028 to €100,000 on Jan. 1, 2029, with the €50,000 paper gain treated as taxable income. A married taxpayer receives a €3,600 exemption, leaving €46,400 subject to tax and creating a €16,704 bill due in May, even if no shares are sold. Hoogeveen's scenario then shows the share value dropping to €60,000 by May while the €16,704 tax bill remains based on the earlier €100,000 valuation, forcing the investor to sell shares and reducing the portfolio to €43,296 and 360 shares—turning an initial €10,000 real gain into a €6,704 net loss and a permanent 28% reduction in share holdings.