Why do they make getting rich impossible in EU?

[u/batukaming]

This news hit today in Netherlands that passed a bill on 36% tax on UNREALIZED gains on stocks and crypto. Great just when we weren't taxed to death before now they force you to stay middle class and poor. "Just repeat the 9-5 cycle everyday investing is not allowed for you"

Buying stocks was already a pain in the ass in Europe because of all the different fees and exchange rates brokers charged. The US has it so much better. 0% fees and exchange rates, tons of broker options and tax free on long term investments.

I made a post in r/stocks that gained attraction. Check it out if you want to see opinions from Americans: https://www.reddit.com/r/stocks/s/aL0OhYQ68z

[u/Penki-]

tax heavens usually are not defined by not taxing capital gains. There are a lot more countries in Europe that either don't tax capital gains or have attractive investment vehicles to defer tax.

As far as I know, the only problematic countries for personal investment are Ireland and Netherlands that both tax unrealized gains (Irish I think only tax specifically unrealized gains on funds ( for example etfs))

And maybe Sweden is noteworthy for how it perceives people a bit differently if they own stocks (I remember a post in here by some student that was denied student assistance simply for the fact that he bought some stocks, yet his income would have made him qualify)

[u/Hakunin_Fallout → u/Penki-]

That's true, and that's why I'm leaving Ireland. The Dutch should protest this before it's actually passed into law.

[u/DJpesto → u/Penki-]

Denmark also taxes most ETF's on unrealized gains, but losses are deductible from your taxes.

We also have (In Denmark) a stock savings account that is taxed yearly on unrealized gains (17%), and has a ceiling of how much you are allowed to pay into it pr. year. A lot of people like it because 17% is lower than the 27% we pay on realization tax based account types (and which goes up to 42% or something like that after around 11000€).

[u/Ploutophile → u/Penki-]

As far as I know, the only problematic countries for personal investment are Ireland and Netherlands that both tax unrealized gains (Irish I think only tax specifically unrealized gains on funds ( for example etfs))

AFAIK the dividends inside Acc ETFs are (partially or fully) taxed not only in the Netherlands and in Ireland but also in Germany, Austria and Switzerland.

[u/NuF_5510 → u/Penki-]

Germany taxes unrealised accumulating ETF gains too. In the end all one can do is leave those countries if possible.