Your house, your dividends and your interest: what the Netherlands keeps levying despite the 7%
The 7% scheme covers your foreign income on the Greek side. On the Dutch side a taxing right remains: in full on a rented-out house in the Netherlands, and to a limited extent on dividends and interest from a Dutch source. "Seven per cent on everything" is therefore too rosy.
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Written and checked by Auke on , against the sources at the bottom. Is something no longer right? Report it below and I'll fix it.
Even if you fall under the 7% scheme in Greece, the Netherlands keeps taxing income from the Netherlands:
- in full on a rented-out house in the Netherlands;
- to a limited extent on dividends and interest from a Dutch source.
The scheme of article 5B (of the Greek income tax code) is broad. It covers not only pension but all your foreign income: rent, dividends, interest, capital gains. That reads as "seven per cent on everything", and that is how it gets passed on.
But there are two sides to every euro that crosses the border. Article 5B governs what Greece levies. What the Netherlands may levy is in the tax treaty between the two countries. And that is not nil.
What happens to your rented-out house in the Netherlands?
This is the sharpest of the three, and the most common. Whoever keeps their Dutch home and rents it out keeps a source of income in the Netherlands with it.
Article 6 of the treaty says that income from immovable property may be taxed in the state where that property is located. If the house is in the Netherlands, then the Netherlands may levy. Not limited to a percentage, not as a residual item, but simply in full. The Belastingdienst (the Dutch Tax Administration) says it plainly: immovable property in the Netherlands is always taxed in the Netherlands.
You declare a rented-out property or holiday home as a non-resident taxpayer: someone who doesn't live in the Netherlands but does have income or assets there. It goes in box 3, the Dutch tax on assets, with the mortgage on it as a debt and 1 January as the reference date. Your Dutch bank account and an annuity taken out in the Netherlands, by contrast, the Netherlands no longer taxes.
That the property can also fall under article 5B in the Greek return takes nothing away from that. They are two systems that both look at the same income. The treaty determines who takes precedence and how double taxation is removed.
So the question "do I keep my Dutch house?" is not only a housing question. It determines whether you keep a Dutch tax return after your move, and whether the return you calculated on paper actually remains.
What does the Netherlands withhold on dividends from a Dutch company?
If you hold shares in a Dutch bv or nv, the Netherlands as source state (the country the income comes from) may withhold dividend tax, but to a limited extent. The treaty names two rates:
- 5% when a company holds an interest of 25% or more
- 15% in the other cases, including you as an individual with your own bv
So that is not a full levy as with real estate, but it isn't nil either. Whoever keeps their bv after emigrating takes this into account. They also think about the protective assessment: the assessment the Netherlands imposes on departure, for which you get a deferral of payment. For a substantial shareholding it remains valid indefinitely.
And interest from a Dutch source?
For interest the same pattern applies: the source state may levy, with a ceiling. The treaty caps that at 10% of the gross amount, and at 8% when the interest accrues to a bank or financial institution.
What does this mean together?
Put the three side by side and the picture tilts:
| Income | What the Netherlands may do |
|---|---|
| Rented-out real estate in the Netherlands | levy in full (article 6), in box 3 with reference date 1 January |
| Dutch bank account, Dutch annuity | not taxed in the Netherlands |
| Dividends from a Dutch company | 15% for an individual; 5% only for a company with an interest of 25%+ (article 10) |
| Interest from a Dutch source | 10%, or 8% for banks (article 11) |
Article 5B remains attractive. For pension and for assets that are not in the Netherlands, it is one of the most favourable regimes in Europe. But whoever leaves their assets in the Netherlands doesn't move their taxation along with them.
Which sum do you do before you leave?
Three questions, and they belong in the orientation phase because the answers can change your move:
- Which part of my assets is in the Netherlands, and so remains partly taxed there?
- What does article 5B bring me on the part that does move with me?
- Does the difference outweigh the effort of a continuing Dutch return alongside a Greek one?
This article explains the treaty articles. It is not tax advice. How the crediting works out in your return, and whether you qualify for a refund of excess withholding tax, belongs with a tax adviser who knows both systems. See also when you need an adviser.
In Vertrekklaar this is phase 2 of 5 of the journey, step 2.10: the same steps, but for your situation — in your order, tickable, and with the deadlines watched. See the whole journey to Greece or go straight to step 2.10 in the open plan.
What this rests on
The facts in this article come from these official pages. Rules change. When in doubt, go by the source, not this article.
- Tax treaty Netherlands-Greece (articles 6, 10 and 11) — wetten.overheid.nl
- AADE — tax incentives to attract new tax residents (article 5B) — aade.gr
- Belastingdienst — living abroad with Dutch income, and what you declare in box 3 — belastingdienst.nl
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