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Read guide →How the Dutch Box 3 deemed-return system taxes P2P portfolios, what thresholds apply, and how to declare foreign platforms to the Belastingdienst.
The Netherlands taxes investment income under three "boxes" - income from work (Box 1), income from substantial business interests (Box 2), and income from savings and investments (Box 3). P2P lending falls into Box 3, which covers bank deposits, bonds, shares, crypto and loan-based crowdlending platforms.
Unlike many other European countries that tax actual interest at marginal rates, the Netherlands applies a deemed-return calculation. Your P2P portfolio is valued at 31 December each year; the Belastingdienst assumes a statutory return on that wealth and taxes that fictional return - not the cash interest Maclear pays on SME loans or the distributions InRento deposits for buy-to-let rentals. For 2026, the deemed-return bands and rates remain under transitional rules while a new system is finalised; the current framework taxes net wealth above the threshold at an effective rate of approximately 32-36 per cent on the deemed return, translating to a combined levy of roughly 1.0-1.8 per cent of the asset value itself, depending on the size and composition of your portfolio.
For the 2026 tax year, the Box 3 threshold (heffingvrij vermogen) is EUR 57,000 for a single taxpayer and EUR 114,000 for fiscal partners. Only the portion of your total savings and investments above this amount is subject to tax. If your combined cash, securities and P2P loan holdings stay below EUR 57,000, you pay zero Box 3 tax.
Above the threshold, the Belastingdienst divides your assets into three brackets - savings, debts, and other investments - and applies different deemed-return percentages to each. Most P2P platforms are classified as "other investments" (overige bezittingen), which carry a higher deemed return than ordinary savings accounts. The exact percentage and resulting tax depend on the total size of your Box 3 base; a EUR 100,000 portfolio may face a different effective rate than a EUR 500,000 one. Because the system is notoriously complex and subject to ongoing reform after court rulings, investors should use the official Belastingdienst calculator or consult a tax adviser to estimate their liability accurately.
You report Box 3 assets in your annual income-tax return (aangifte inkomstenbelasting), typically filed online via MijnBelastingdienst between March and May for the previous calendar year. In the Box 3 section, you declare the year-end market value of each asset category. For P2P lending, this means the total outstanding principal and accrued interest visible in your platform account at 31 December.
Foreign platforms - Mintos holds a MiFID II licence from Latvijas Banka, Maclear operates under a Swiss SRO for AML compliance, InRento is regulated as an ECSP by the Bank of Lithuania - do not automatically report to the Dutch tax authority. The duty to declare lies entirely with you. You must list the platform name, country, and the year-end balance. Some platforms provide a year-end statement or tax certificate in English; if not, download your account statement and translate the relevant line items if the tax office requests documentation during an audit.
Because Box 3 taxes deemed returns on the value of your portfolio rather than realised gains, individual loan defaults do not trigger a deductible loss in the year they occur. If a borrower defaults and the platform writes off the loan with zero recovery, that loan drops to zero value in your year-end statement - effectively reducing your Box 3 base for the following year. But you cannot claim a separate loss deduction against other income or carry the loss forward to offset future Box 3 tax.
In practice, this means the tax system does not distinguish between a EUR 10,000 portfolio earning 14 per cent interest and a EUR 10,000 portfolio that earned 20 per cent but suffered 6 per cent defaults - both are taxed on the EUR 10,000 value at year-end. The actual interest you withdraw and spend is irrelevant for Box 3 purposes; only the closing balance matters. Investors on PeerBerry's buyback-protected consumer loans or Robocash's short-term notes with consistent buyback since 2017 typically see stable year-end values, while those on platforms with elevated default exposure may declare a lower asset value if write-offs have been finalised by 31 December.
The Belastingdienst can audit your tax return up to five years after filing. For P2P investments, you should archive:
Store these documents digitally in a consistent folder structure - platform name, year, document type - and back them up. If the tax authority queries your declared value, you must produce evidence; a missing year-end statement can trigger a penalty or an estimated assessment that may overstate your liability.
Fiscal partners (married couples or registered partners) can split Box 3 assets between them in any proportion each year, as long as the total matches reality. This flexibility allows couples to optimise the deemed-return brackets; if one partner has other Box 3 assets, shifting the P2P portfolio to the partner with a lower base can sometimes reduce the combined tax.
Interest credited but not yet withdrawn still counts as part of your portfolio value at year-end. If you reinvest all earnings on Nectaro's consumer notes, which delivered 14.91 per cent realised return in 2025, your Box 3 base grows annually; if you withdraw interest monthly to a savings account, the withdrawn cash becomes a separate Box 3 asset (at a lower deemed return) while the P2P base shrinks. Neither approach changes the total tax in a straightforward scenario, but the split can matter if you cross a bracket threshold.
Losses from platform failures are treated as a reduction in asset value only when the loss is definitive. If a platform suspends withdrawals but has not formally entered insolvency, you may still be required to declare the last-known account balance until a liquidator or administrator confirms the write-off. Reinvest24 suspended withdrawals in February 2024 and entered wind-down; Dutch investors holding claims on that platform should seek professional advice on the correct year-end valuation and whether any special loss-relief provisions apply under updated case law.
In the Netherlands, P2P lending assets are classified under Box 3 wealth taxation rather than as interest income. The tax is levied on your net wealth above the threshold, using a deemed return, not on the actual interest you receive. This means the cash interest from platforms like Maclear, Mintos or InRento does not flow directly into your tax base - instead, the year-end value of your P2P portfolio counts toward your total Box 3 assets.
For 2026, the first EUR 57,000 of net wealth (EUR 114,000 for fiscal partners) is exempt from Box 3 tax. Only the portion of your total savings and investments above this threshold - including your P2P loan portfolio - is subject to the deemed-return calculation. If your combined cash, securities and P2P holdings stay below EUR 57,000, no Box 3 tax applies.
Yes. All foreign financial accounts and investments must be declared in your annual income-tax return under Box 3. You report the year-end market value of your P2P holdings on each platform, plus the name and country of the platform. Most non-Dutch platforms do not automatically share data with the Belastingdienst, so the reporting duty lies entirely with you as the investor.
Generally no. Because Box 3 taxes deemed returns rather than actual income, individual loan defaults do not reduce your tax base in the year they occur. The year-end value you declare should reflect any permanent write-offs - a defaulted loan with zero recovery shows up as zero value - but you cannot claim a separate loss deduction against other income. Special rules may apply if you hold P2P exposure through certain legal structures; consult a tax adviser for complex scenarios.
Keep year-end account statements from each platform showing the total market value of your loan portfolio at 31 December. Also retain monthly or quarterly statements, transaction histories of deposits and withdrawals, any tax certificates or confirmations the platform provides, and records of interest credited and defaults. The Belastingdienst can audit up to five years back, so archive everything in a consistent folder structure - platform name, year, document type.
This guide provides general information on how P2P lending is commonly treated under Dutch tax law as of early 2026. Tax rules are subject to change, and individual circumstances vary. For personalised advice - especially if you hold complex structures, face platform insolvencies, or have other cross-border assets - consult a qualified Dutch tax adviser (belastingadviseur) or accountant. P2PScore is an independent review site, not a tax or legal consultancy.
Tier 1 and Tier 2 platforms with the strongest regulation, track records and recovery processes - ranked by our independent scorecard.
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