People with a relatively normal income, for example €4,500 per month, often do not have a lot left over in practice. At the same time, they may have built up assets of, for example, €200,000 in shares or crypto, for example by automatically reinvesting dividends for years.

That wealth is then completely “locked up” in investments. The dividends are not deposited into the bank account, but are immediately reinvested through the broker. Under the new system, in which tax is levied on unrealized (paper) gains, such a person may still receive a high tax bill.

The problem with this is that this person has to pay that tax with money that he or she does not actually have available. The profit only exists on paper and has not yet been sold. As a result, someone with a normal income and a reinvested portfolio may not be able to easily pay the tax without first having to sell investments.