The Netherlands applies a deemed yield tax on the average value of assets owned by individuals. The tax (known as Box 3 Tax) replaced the former wealth tax and is formally categorized as an income tax. Under the tax, the average net annual value of all assets owned by an individual is deemed to produce a yield of 4%, which is subject to income tax at the flat rate of 30%, thus translating in a tax of 1.2% on the net average value of taxable assets. The 4% yield is fixed, and applies regardless of the actual yield which can...