Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 211

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 211
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 is a resident or deemed a resident of The Netherlands for Dutch personal income tax purposes, may, amongst others, be subject to Dutch personal income tax at progressive individual income tax rates up to 49.50% (2022 rate) if:

| (i) | the individual carries on a business, or is deemed to carry on a business, for example pursuant to a co-entitlement to the net value of an enterprise (medegerechtigde), to the assets of which such debt security is attributable; or |

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| (ii) | such income or gain qualifies as income from miscellaneous activities (resultaat uit overige                                                                        
 werkzaamheden), which e.g., include activities with respect to the debt security that exceed regular, active portfolio management (normaal actief vermogensbeheer). |

If the conditions set out in paragraphs (i) and (ii) above do not apply to an individual holder of a debt security, actual received income derived from a debt security or gains realized on the disposal or redemption of a debt security are, in general, not taxable as such. Instead, such holder of a debt security will be taxed at a flat rate of 31% (2022 rate) on deemed income from “savings and investments” ( sparen en beleggen). This deemed income is calculated on the basis of three ascending percentages (1.818%, 4.366% and 5.53%; 2022 rates) depending on the individual’s “yield basis” ( rendementsgrondslag) at the beginning of the calendar year (1 January) to the extent it exceeds a certain threshold. The fair market value of the debt security will be included in the individual’s yield basis. Based on a decision of the Dutch Supreme Court ( Hoge Raad) of December 24, 2021 (ECLI:NL:HR:2021:1963), the current system of taxation based on a deemed return may contravene with Section 1 of the First Protocol to the European Convention on Human Rights in combination with Section 14 of the European Convention on Human Rights. As a result, the Dutch State Secretary for Tax Affairs and Tax Administration issued a decree stating that if the deemed return based on the actual composition of the yield basis (with currently unknown separate deemed return percentages for savings, debts and investments) in 2022 is lower than the deemed return based on current legislation as described above, the former (lower) deemed return will be used