Report on taxation of multinationals
Report by an advisory committee on the taxation of multinational companies with suggestions for specific tax measures.
Relief package for COVID-19 crisis
The Dutch government just announced a package to soften the economic effects of the coronavirus for businesses. All businesses may request a 3 month extension for paying Dutch taxes (CIT, VAT, wage tax, income tax) without having initially to furnish proof. Reduced taxation interest applies. Further, a lower preliminary CIT assessment may be requested. Several non-tax measures include compensation for wage costs, financing aid and a social minimum aid.
Tax Article on Pillar 1 – Caterpillar 1
Check out this opinion article by Marie about the implications of Pillar 1 for the Netherlands and specifically for distribution activities (in Dutch).
First international tax ruling!
First international tax ruling by vanOlde! #avoiddoubletaxation
Outline of Pillar 1 published
An outline of Pillar 1 tax measures was published by the Inclusive Framework. Pillar 1 aims to re-allocate taxation rights of automated digital service companies and consumer facing businesses to user/market jurisdictions.
ECJ ruling Köln-Aktienfonds
The European Court issued its judgement in Köln-Aktienfonds (KA Deka, C 156/17) about Dutch dividend withholding tax reclaims by a German Sondervermögen.
Supreme Court on single investor Sondervermögen
The Dutch Supreme Court issued a ruling on the Dutch tax treatment of a German Sondervermögen with a single investor. The case is relevant for funds that claim refunds of Dutch dividend withholding tax. The EU law questions on the matter remain unanswered pending a final decision by the ECJ in case C-156/17 (Köln Aktienfonds).
NL beneficial ownership case
For the first time, the Dutch Supreme Court applied the Danish beneficial ownership judgements (ECJ C-116/16 and C-117/16) in a Dutch CIT case. The case involves a low substance, non-conduit holding structure. The Supreme Court acknowledges that the Netherlands must apply the EU tax abuse concept to the Dutch CIT regime applicable to foreign substantial shareholders in 2012. This means that the tax authorities should prove the existence of a tax abusive motive (subjective test), but the taxpayer may provide counter-evidence that the structure is not artificial and devoid of economic reality (objective test). This case underlines the importance of real substance in case a tax benefit is obtained.
Lower court case on WHT reclaims by Sondervermögen
An interesting Dutch lower court pilot case was published last Friday regarding Dutch dividend withholding tax reclaims by a German open investment fund (Publikum Sondervermögen). The German fund argued that the reclaim should be granted because of its comparability with a Dutch fiscal investment institution (FBI).
New office!
Today, we moved into our new office at Amstel 228. We wish everyone a happy new year - may 2020 be full of tax benefits!