Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 210

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 210
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 securities or a gain realized on the disposal or redemption of the debt securities, by a holder of a debt security who is a resident or a deemed resident of The Netherlands for Dutch corporate income tax purposes and who is subject to Dutch corporate income tax, is generally taxable in The Netherlands at a rate of 25.8%, with a step up rate of 15% on the first EUR 395,000 of taxable income (2022 rate). Income derived or deemed to be derived from a debt security or a gain realized on the disposal or redemption of a debt security, by a holder of a debt security who is an individual who 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: