Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 237

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 237
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 the conditions set out in paragraphs (i) and (ii) above do not apply to an individual holder of an ADS, actual received income derived from an ADS or gains realized on the disposal or redemption of an ADS are, in general, not taxable as such. Instead, such holder of an ADS 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 (January 1) to the extent it exceeds a certain threshold. The fair market value of the ADS 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 -116-

legislation as described above, the former (lower) deemed return will be used to determine taxable income from savings and investments. Non-residentsof The Netherlands. A holder of an ADS who is neither resident nor deemed to be resident of The Netherlands for Dutch corporate or personal tax purposes who derives income from such ADS, or who realizes a gain on the disposal or redemption of the ADS will not be subject to Dutch taxation on income or capital gains, unless:

| · |     | such holder carries on a business, or is deemed to carry on a business or part thereof, for example pursuant to a                                                                           
 co-entitlement to the net value of an enterprise (medegerechtigde), through a permanent establishment or a permanent representative in The Netherlands to which the ADS is attributable; or |

| · |     | the holder is an individual, and such income or gain qualifies as income from miscellaneous activities in The Netherlands