On May 19 2026 Bas Jacobs – professor of Public Economics – participated in a hearing in the First Chamber of Parliament.
Jacobs argued that the best way forward is to approve the new Real Return Act, where capital gains taxes are proposed on accrual basis. In the run-up to the debate, Jacobs was interviewed by NRC Handelsblad and EW Magazine. Numerous newspapers covered the hearing. Jacobs testimony can be found here.
Jacobs has published two papers in Economische Statistische Berichten, which are among the most-read articles at this moment. In the first paper Jacobs argues that a realization-based capital gains tax leads to welfare losses and billions of revenue shortfalls. Moreover, he debunks the myth that an accrual-based capital gains tax would harm wealth accumulation.
In the second paper – joint with Ruud van den Dool and Aart Gerritsen – it is argued that the government should implement an accrual-based capital gains tax for efficiency, equity, budgetary and implementation reasons. Moreover, a number of recommendations are made to improve the box-2 proposal.
Jacobs based his recommendations on two research papers.
Jacobs, Bas (2026), "Het Belastingvoordeel van Uitstel van Winstrealisatie bij een Vermogenswinstbelasting en de Budgettaire Gevolgen van Belastingen op Vermogensaanwas en Vermogenswinst", working paper: Vrije Universiteit Amsterdam. [English translation follows shortly]
Jacobs, Bas (2026), "Does a Realisation-Based Capital Gains Tax Lead to More Wealth Accumulation than an Accrual-based Capital Gains Tax?", working paper: Vrije Universiteit Amsterdam.
At his homepage you can find all Bas Jacobs’ contributions on the debate on capital gains tax reform in the Netherlands.