The Court in The Hague believes so. It stands to reason that the Supreme Court will deliver the final ruling on this matter.
Gold
The case before the District Court concerns a woman whose assets, taxed under Box 3 (income from savings and investments), consisted on 1 January 2018 of bank and savings balances (€95,428) and other assets (€33,873). The other assets consist of gold bullion, which was worth €34,574 on 31 December 2018. There is therefore an unrealised capital gain of €701.
Occupation
The lady’s heirs have argued in court that the amount assessed by the Tax and Customs Administration following the Christmas judgment The tax relief granted results in an excessively high income. The Tax and Customs Administration has assessed this income on the basis of the rules calculated at €1,479 for the compensation (the flat-rate savings option). The actual interest on bank and savings balances amounted to just €38 in 2018.
The Court has ruled that the income from savings and investments must be reduced, but that the unrealised capital gains on the gold bullion must be taken into account in doing so. According to the Court, the income from box 3 must therefore be further determined as €38 + €701 = €739.
We are curious to see whether the Supreme Court will follow the District Court’s ruling on this matter.