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Welcome to the Expatax Knowledge Base containing hundreds of answers to questions we received about topics concerning tax, payroll, accounting, legal, business etc. related to the Netherlands. Search in our Knowledge Base or browse the different categories. Expatax is a Dutch tax and accounting firm specialized in assisting international workers, freelancers and companies. Don't hesitate to contact us if you need assistance or check our website.

Can I open a savings account for my child and will he pay tax on the interest ?

It is possible to open a bank account which will be used to save money for your child. You can agree with the bank that you as a parent will hold the account for your child till the age of 18 to prevent that money is withdrawn by your child before the age of 18. Your child doesn't pay tax on the interest, instead you as the parent will have to declare the account in your tax return.
If you or your (fiscal) partner has the 30% ruling and opted for deemed non residency in the Netherlands for tax purposes then you don't have to declare the account in the Netherlands either.
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