Category: Netherlands
The Netherlands’ new DAC6 requirements: what multinationals need to know
Multinationals with European Union operations need to be aware of the DAC6 reporting obligations, especially since there are situations in which multinationals will be required to report cross-border arrangements with local tax authorities. ... - Continue reading
Netherlands announces new policies for resolving cross-border tax disputes
The government has implemented new legislations in order to reform treatment of offshore tax disputes. ... - Continue reading
TAX HAVEN COMPANIES NOT EXCLUDED FROM DUTCH STATE AID
Due to the new pandemic, many countries throughout the world are offering tax relief to their businesses. Unlike a few countries though, Netherlands is not excluding its companies from its government assistance program despite their tax benefits from tax havens. ... - Continue reading
EU Commission to investigate whether Netherlands granted IKEA subsidiary State aid by approving tax deductions
The European Commission to investigate into Inter IKEA systems' tax treatment for a possible breach of EU State Aid rules. ... - Continue reading
Dutch corporate tax residency and substance may be affected by COVID-19 quarantine and travel restrictions
Restrictions generated from the new pandemic is affecting a whole range of activities. This article focuses on its effects on tax residency in Netherlands. ... - Continue reading
Netflix accused of funnelling £330million profits ‘into tax havens’
According to TaxWatch, Netflix’s corporate structure is an enabler of tax avoidance. ... - Continue reading
Cayman remains on Dutch tax blacklist
Netherlands' new blacklist dated 30 December 2019 keeps the Cayman Islands. ... - Continue reading
Dutch ditching their US citizenship over tax fears
Some 1,700 ‘accidental’ Dutch Americans have applied to give up their US nationality this year, a six-fold rise on three years ago, before a new tax law is implemented next year. As FATCA is enforced, these Dutch Americans must file a tax return in the United States. If they do… – Continue reading
Cyprus: Convention Between The Republic Of Cyprus And The Netherlands For The Avoidance Of Double Taxation
Last week saw Cyprus add The Netherlands to the long list of countries with which it has signed double taxation agreements. ... - Continue reading
Dutch government asks banks to give American expats more time to deal with FATCA
The Dutch government is urging banks to be accommodating towards American nationals who risk having their bank accounts closed because of US fiscal regulations as it calls on EU member states to campaign together for changes to American tax laws which are affecting thousands who have American nationality but no… – Continue reading
Netherlands: The Netherlands: Tax Plan 2020
On September 17, 2019, the Dutch government released the Budget 2020 containing its Tax Plan 2020 with certain amendments to Dutch tax law. ... - Continue reading
The 2020 Dutch budget and tax plan: key takeaways for multinational enterprises
The Dutch government on September 17 presented the 2020 Dutch budget and tax plan, proposing modifications to the taxation of multinational firms. ... - Continue reading
Netherlands destination of choice for tax-dodging multinationals – report
Multinational companies channel more than $3 trillion a year in “phantom” foreign investment through the Netherlands in order to bring down their corporate tax bills, according to research published in the Financial Times. ... - Continue reading
Uber looks to the Netherlands to reduce its tax bill by $6,1bn
Uber is moving its intellectual property arm from Bermuda to the Netherlands to save $6.1bn from its tax bid, Bloomberg reported on Friday. ... - Continue reading
European Union: Dutch Implementation Proposal On EU Anti-Hybrid Measures
On July 2, 2019, the Dutch government published the legislative proposal implementing the EU Anti-Tax Avoidance Directive II (ATAD II) that was adopted on May 29, 2017. The ATAD II mandates EU Member States to implement rules that target hybrid mismatches by January 1, 2020 (specific sections by January 1, 2022). ... - Continue reading
Netherlands draft law requires disclosure of cross-border transactions to tax authorities
On July 12 the Netherlands government published a legislative proposal implementing the EU mandatory disclosure directive. This follows an internet consultation on a draft legislative proposal which ran from December 19, 2018 — February 1, 2019. ... - Continue reading
Netherlands announces tax policy agenda for 2019
The Dutch government on May 29 announced its priorities and timelines in the area tax policy, including how the Netherlands intends to deal with tax evasion and tax avoidance and improve the Dutch investment climate. ... - Continue reading
Netherlands draft tax law targeting hybrid mismatches includes new documentation requirement
New laws regarding hybrid mismatches ... - Continue reading
Singapore’s tax treaties with Netherlands and Georgia amended
The Inland Revenue Authority of Singapore has announced that amendments made to Singapore’s bilateral tax treaties with the Netherlands and Georgia took effect today. ... - Continue reading
Africa’s problem with tax avoidance
Every year African countries lose at least $50 million in taxes — more than the amount of foreign development aid. So where is it all going and how can multinational companies be held to account? NGOs continue to raise the alarm. African countries are being cheated out of billions in… – Continue reading
EU Report Calls For Finance Authorities, AML Oversight
European Union lawmakers released a report on Wednesday (Feb. 27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. The report, which is the result of a… – Continue reading
EU Report Calls For Finance Authorities, AML Oversight
European Union lawmakers released a report on Wednesday (Feb. 27) recommending that the EU create a police unit dedicated to the investigation of tax and financial crimes, as well as a watchdog organization to fight money-laundering, according to a report by Reuters. The report, which is the result of a… – Continue reading
TCI added to Dutch tax haven blacklist
THE DUTCH government has added the Turks and Caicos Islands and 15 other countries to a tax haven blacklist. The jurisdictions listed have no corporation tax or a corporation tax rate of less than nine percent, a press release from the Government of the Netherlands stated. The 16 countries added… – Continue reading
GOV’T SAYS DUTCH BLACKLIST “UNJUSTIFIED”
Cayman’s leaders return fire on the Dutch government describing its blacklist as “unjustified” and “wholly lacking in fairness and credibility.” In a statement Friday (4 January) the Office of the Premier said the Dutch blacklist does not take into account Cayman’s adherence to international standards for tax transparency nor its… – Continue reading
Dutch add Guernsey, Belize and Isle of Man to tax evasion blacklist
The Dutch finance ministry is expanding its official list of places it considers to be involved in tax evasion by a further 16 low tax jurisdictions, including the islands of Guernsey and Jersey, the Isle of Man, and Belize. The list contains five jurisdictions currently blacklisted by the EU: American… – Continue reading
EU Details Action Plan On Money Laundering
European Union finance ministers worked out a plan for combating money laundering and also made a deal on major bank reform on Tuesday (Dec. 4), according to reports from Reuters. The money laundering plan is a response to highly visible cases of alleged criminal activity at EU banks in countries… – Continue reading
EU finance ministers need to deliver: Digital companies must pay tax
When European finance ministers meet on Tuesday (4 December), they should swiftly adopt the digital service tax: a levy on turnover for very large digital firms such as Google, Apple, Facebook, Amazon, Booking and Spotify, write Udo Bullmann and Paul Tang. Udo Bullmann is president of the Socialist and Democrats… – Continue reading
Corporate America flees zero-tax Caribbean havens after crackdown
Many U.S. multinational corporations have packed up or are choosing to open subsidiaries in low-tax, rather than no-tax, countries that are seen as more legitimate than the formerly popular island destinations of the Cayman Islands and the Bahamas. They’re fleeing in response to regulations from the European Union that require… – Continue reading
Creditsafe pays £1m to HMRC under ‘Diverted Profits Tax’
Caerphilly-based credit referencing company Creditsafe has paid Her Majesty’s Revenue and Customs almost £1 million after it was served with a ‘Diverted Profits Tax’ charge. Registered as Creditsafe Business Solutions, the company, based at Caerphilly Business Park, sells business data for credit check purposes and other uses. According to full… – Continue reading
Pharmaceutical giants named and shamed in tax avoidance investigation
Four pharmaceutical giants have been named and shamed for depriving Australia of $215 million a year in tax avoidance. Johnson & Johnson, Pfizer, Merck Sharp & Dohme (MSD Australia), and Abbott – which make household name brands like Band Aid, Baby Oil, Centrum and ChapStick –were found to have unfairly… – Continue reading
Uber dispute ends as firm pays back taxes, fines
A HCMC taxman has confirmed that ride hailing firm Uber has paid all its outstanding dues. Nguyen Nam Binh, deputy director of the HCMC Tax Department, told VnExpress that the Netherlands-based ride hailing firm has paid VND53 billion ($2.3 million) in back taxes and fines. In September 2017, the department… – Continue reading
Panasonic to Move European Headquarters Out of UK as Brexit Concerns Grow
Several multi-national corporations have moved their European headquarters outside of the UK ahead of Brexit, and many others are expected to follow suit, especially as the likelihood of a no-deal Brexit rises further. Japanese tech giant Panasonic will be transferring its European HQ away from London to Amsterdam in October… – Continue reading
Uber withdraws lawsuit against HCMC tax man
Ride-hailing firm Uber has withdrawn its lawsuit over HCMC’s demand for $2.3 million in back taxes and fines. A tax department official said Friday that the HCMC People’s Court has suspended the case in which the Netherlands-based Uber B.V. had sued the department over its demand that the firm pays… – Continue reading
UK withholding tax on interest paid to non-residents
The UK does still have one significant disadvantage namely the 20% withholding tax imposed by UK domestic law on “yearly interest” that arises in the UK is paid to persons whose “usual place of abode” is outside the UK. The UK is normally regarded as an attractive location for the… – Continue reading
OECD Welcomes Dutch Efforts To Counter BEPS
The OECD has welcomed efforts by the Dutch Government to tackle base erosion and profit shifting but called for the overall tax regime to be simplified, including in area of value-added tax. In its latest Economic Report on the Netherlands, the OECD said that the Government is attempting to change… – Continue reading
Tax chiefs unite to tackle international tax crime
HMRC has formed an alliance with tax enforcement bodies in 4 countries to share intelligence and expertise in the battle against international tax crime. The UK has joined forces with Canada, the Netherlands, the United States and Australia to launch the Joint Chiefs of Global Tax Enforcement (J5) – a… – Continue reading
Ukraine, Netherlands ratify protocol amending Convention on double taxation avoidance
Royalty taxation shall be set at 5% and 10%. The tax rate is being raised from 2% to 5%, while the zero taxation of dividends and royalty payments are being abolished. Such are the main changes in the Convention between Ukraine and the Kingdom of the Netherlands on double taxation… – Continue reading
Dutch Cabinet Approves Anti-Evasion Measures
The Government of the Netherlands has announced a comprehensive package of tax anti-avoidance proposals designed to bring the jurisdiction’s rules into line with new European Union anti-avoidance laws and fulfill its obligations under the international BEPS agenda. The plans were detailed in a parliamentary paper sent by State Secretary for… – Continue reading
Netherlands Confirms Tax Treaty Negotiation Priorities
The Netherlands will seek to resume discussions towards double taxation avoidance treaties with several countries in 2018, including the United States, the Government has said. The Dutch Government will attempt to begin tax treaty talks with at least seven countries this year, including Australia, Colombia, Costa Rica, Ecuador, Morocco, Austria,… – Continue reading
Uber sues HCM City tax department
Viet Nam News HCM City – The Netherlands-based ride-hailing firm Uber International Services Holding B.V has filed a lawsuit against the HCM City tax department after it decided to forcibly collect tax, Người Lao Động (Labourer) newspaper reported. Earlier the department had sent a notice to Uber that it had… – Continue reading
Dutch Tax Administration to tax pensions of Belgian workers working in the Netherlands
Part of the supplementary pension of Belgian workers, previously working in the Netherlands, will be taxed by the Dutch Tax Administration (the “DTA”). The DTA confirmed this on Thursday. The Belgian and Dutch government treasuries are engaged in a tug of war around the second pillar of the pension. This… – Continue reading
EUROPE INVESTIGATES IKEA TAX EVASION VIA NETHERLANDS
The European Commission is launching an investigation into Ikea’s tax construction in the Netherlands. European Commissioner on competition Margrethe Vestager is expected to officially announce the investigation on Tuesday, British newspaper the Financial Times reports. The Swedish furniture company is suspected of evading nearly a billion euros in taxes between… – Continue reading
Thousand billions in lost tax from foreign enterprises
Vietnam has lost thousands of billions of dong in taxes as foreign enterprises, especially large-scale ones, refuse to pay based on the Double Taxation Avoidance Agreement. Massive revenue without having to pay taxes The Ho Chi Minh City Department of Taxation has recently issued an ultimatum for Uber B.V Netherlands… – Continue reading
Dutch-built super yachts are being re-sold to tax haven buyers
Luxury yachts built in Dutch shipyards are being sold to suspect buyers around the world through tax havens, Trouw and the Financieele Dagblad reported on Friday. The dubious yacht transactions were revealed through an investigation being carried out into the Paradise Papers by the two Dutch newspapers . The documents… – Continue reading
Dutch government continues with dividend withholding tax proposal and announces conditional retroactive amendment to CIT fiscal unity regime
In this Tax Alert we will briefly highlight two topical Dutch tax matters very relevant to internationally active companies: the current status of the legislative proposal regarding Dutch dividend withholding tax rules for holding cooperatives and BVs/NVs and the announcement of the Dutch Ministry of Finance that the Dutch fiscal… – Continue reading
New Dutch Law Leaves Repentant Taxpayers Out in the Cold
The abolition of a scheme allowing Dutch taxpayers to fess up to their tax sins and avoid criminal charges is likely to discourage high-net worth individuals from ever disclosing money hidden abroad to local authorities, practitioners say. Deputy Minister of Finance Eric Wiebes announced that it was time to draw… – Continue reading
