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Dutch tax on your assets in Italy

Living in the Netherlands and still own property, savings or investments in Italy? You have to declare them in Box 3. The Netherlands–Italy tax treaty stops you paying twice on property, but savings and investments stay taxable here. Here's how it works, and a calculator to see what it means for you.

Property in Italy

A house, flat or land in Italy counts in your Box 3 wealth at its value on 1 January. Under the treaty Italy may tax that property, and the Netherlands exempts the share of Box 3 tax that falls on it.

So you usually pay no Dutch tax on it, but you still have to declare it. It also counts when the tax-free allowance is spread over your assets, so your other wealth can be taxed slightly more.

Bank accounts and investments in Italy

Savings, deposits, shares and funds in Italy stay taxable in Dutch Box 3, just like assets here. The Netherlands is your country of residence and keeps the right to tax them.

If Italy withheld tax on interest or dividends, it's credited against the Dutch tax on that slice, up to that Dutch tax and the rate the treaty allows.

Converting and declaring

Convert amounts to euros at the exchange rate on 1 January of the tax year. Keep a year-end statement from the bank or broker and a valuation of any property.

Many countries automatically share account information with the Belastingdienst. If you left foreign assets out in earlier years, correcting it voluntarily usually means a lower fine than if the Belastingdienst finds it first.

Money from family in Italy

Gifts from parents or relatives living in Italy are not subject to Dutch gift tax, unless the giver is a Dutch national who left the Netherlands less than 10 years ago. From the next 1 January the money does count in your Box 3.

What Italy itself taxes

  • IMU, the municipal property tax, applies to a home in Italy that is not your main residence there, which once you live in the Netherlands usually means your Italian home. TARI (waste tax) is charged separately.
  • Rent from Italian property is taxed in Italy; for residential lets you can usually choose the flat-rate cedolare secca instead of the progressive income tax.

Your accounts and products in Italy

  • Italian bank and postal savings (conti correnti, libretti postali, buoni fruttiferi) count as savings in Box 3; BTP government bonds, funds and shares count as investments.
  • Italian tax withheld on interest or dividends can be credited against the Dutch tax on those assets up to the treaty rate; any excess is reclaimed in Italy.

Common situations

  • Inheriting from parents who lived in Italy: there is no Dutch inheritance tax when the person who died lived abroad (unless they were a Dutch national who left the Netherlands less than 10 years before). What you inherit counts in your Box 3 from the next 1 January.
  • A share in the family home you inherited together with siblings: enter only your share of the value in Box 3.

Worked example (2026)

You live in the Netherlands, single, with € 35.000 in a Dutch savings account. In Italy you own a home in Bari worth € 150.000 and € 20.000 in BTP bonds.

Box 3 tax on everything€ 2.723
Treaty relief for the home− € 2.302
Box 3 tax you pay€ 421

The home still raises the tax a little: it counts when the tax-free allowance is spread over everything you own. The tax Italy levies on the home itself comes on top. Sources: belastingdienst.nl, agenziaentrate.gov.it.

Keep calculating

General information based on Dutch treaty practice for Box 3. Your own situation may differ; have foreign assets checked by an adviser if in doubt.