EN
The Netherlands is one of the few countries where you have to declare your crypto even if you just HODL.
You have to pay taxes on the value of your crypto on january 1st of the tax year. If you have any crypto income, perhaps you were paid a salary in bitcoin, or you mined crypto then you’ll also have to declare this.
Mistakes do happen, especially considering the complexity of cryptocurrencies. It may also not be immediately clear which value you were meant to declare considering you have to first convert your cryptocurrencies’ value to euros.
You may also not have been aware of your obligation to declare crypto and may now be behind on your declarations. Do not worry you are still able to edit previous tax returns even after they have been submitted.
What should I do if I miss the tax return deadline?
If you miss the May 1st deadline, you will receive a reminder in early June with a new deadline. Ignoring this reminder can lead to an ultimatum in late July and a potential fine of 385 euros for non-compliance
Can I make changes to my tax return after it has been submitted
Yes, you can make changes to your tax return even after submission, including after receiving a final assessment.
How long do I have to make changes to my tax return?
You can modify your tax return up to five years after the tax year in question.
Are there any exceptions to the timeframe for making changes to my tax return?
Yes, adjustments involving shared income and deductions with a fiscal partner must be done within six weeks of receiving the final assessment.
Can I edit my tax return via the App?
No, even if you have completed your taxes via the app you will always have to use the MijnBelastingdienst website for corrections.
How do I make changes to an online tax return submission?
Changes to an online tax return must be done through the 'Mijn Belastingdienst' portal, following these steps:
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Login to MijnBelastingdienst using your DigiD.
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Click on “Mijn aangifte Inkomstenbelasting wijzigen. If you’ve using the “Verkorte Aangifte”, then you should instead click on “Menu” in the top right corner and then on “Aangifte Wijzigen of aanvullen”
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On the left side you are able to select the area where the mistake or omission was. You can then edit this area and submit your aangifte. For cryptocurrencies you should make sure their value is recorded under “Overige Bezittingen”.
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To submit your declaration click on “Naar ondertekenen” en then proceed to click on “Opslaan en naar ondertekenen”.
What happens to my original tax return after I submit a modified version?
The most recent submission you make is the one that will be processed. Your original submission will be disregarded.
How do I correct a paper tax return that I've already submitted?
For paper submissions, you must fill out the entire form again and resubmit it, or you can send a letter with the specified changes.
What are the implications of voluntarily filing a correction for undeclared crypto assets in my tax return?
If you have previously failed to declare income from crypto assets, voluntarily filing a tax return or correcting your return can lead to no fine or a reduced fine
No Fine for Timely Voluntary Correction: If you voluntarily correct your previous income tax return within 2 years of submitting it, you will generally not be fined, except in cases of income from substantial holdings or savings and investments. Crypto holdings will fall under savings & investments.
Mitigating Circumstance Penalty: In cases where a fine is applicable, the voluntary disclosure of your crypto assets will be considered a mitigating circumstance, potentially leading to a lesser penalty.This reduced fine recognizes the fact that you made an effort to voluntarily declare the income or wealth, albeit late.
What are the consequences of making deliberate errors on my tax return?
Deliberate errors or omissions can result in significant fines, which vary depending on whether the error was intentional or due to gross negligence. If the error was intentional you may have to pay fines of 50% of the tax you’re meant to pay, for gross negligence this is 25%.
However this fine is increased for errors in Box 3 Sparen and Beleggen, which is where you have to declare your cryptocurrency value. If the error is intentional then the fine is 150%, for gross negligence this is 75%.
In cases of fraud or a history of tax evasion the fine can increase even further.
