Substantial penalty for crypto owners who do not comply with information obligations A crypto owner initially provides insufficient information to the Tax Authorities about the size of his (crypto) assets.

Substantial penalty for crypto owners who do not comply with information obligations A crypto owner initially provides insufficient information to the Tax Authorities about the size of his (crypto) assets. 

He must still provide the requested information from the civil chamber of the District Court in The Hague. If he does not do so, he will face a penalty of 2,500 euros per day, with a maximum of 1 million euros.

The dispute between the Tax Authorities and the crypto owner has been going on for a long time. In 2021, the Tax Authorities became aware that the man has a number of foreign bank accounts. 

The Tax Authorities were then able to determine from documents sent by the man that he used one of these accounts, among other things, for crypto transactions and therefore also had crypto assets.

Incorrect tax returns The man admits that he has made incorrect statements about these assets in the past and that he has filed incorrect tax returns. 

The preliminary relief judge does not find it credible that this happened out of clumsiness or carelessness. There is even a pattern in which the man provides information at the request of the Tax Authorities, pretending that he has provided all relevant information about his crypto assets, only to later have to admit that not all information was previously provided.  This lack of clarity also applies to the answers to the questions asked by the Tax Authorities in December 2024. As a result, the Tax Authorities do not have a good overview of the man's crypto assets between 2012 and 2024. This means that the tax returns submitted by this person can still be checked. not take place.

Full information provision Essentially, the Court's question is whether the man must be held to provide complete and unconditional information about the development and size of his (crypto) assets. The crypto owner believes that the claims are not allowable, because in his view he has fulfilled his legal obligation to provide information. The man has indicated that in the past he did not fully declare his asset positions in his income tax returns, because he roughly estimated his crypto assets. But he does believe that he has now fulfilled his information obligation. The difficulty arose that he had to dig deep to find information from exchanges and his wallets. Because until the 2020s, few pieces were available at crypto exchanges, making it difficult to answer the questions asked.