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Money transfer


In the event that you have money abroad, you can transfer these funds to your Dutch bank account. Will this have tax implications?

That depends. You have to be able to explain where the money is coming from. If you are a regular Dutch tax resident and you never reported your wealth in Box 3 that you have abroad, then the money transfer has the implication that you have not done a correct income tax return. This needs to be adjusted and is not done easily.

However, if you have the 30% ruling, you do not need to report your world wide wealth if you chose to be regarded a deemed non resident tax payer. This choice is basically made by every 30% ruling holder.

When you own real estate abroad then you do not pay income tax over this real estate in the Netherlands, but you do need to report it. If the money transfer a result of the sale of the real estate, then this money transfer has no tax implications.



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