Financial Services

FS Tax Newsletter | April 2021

Now that the winter has ended and the weather is slowly getting better, we are issuing our second FS Tax Newsletter for 2021. In this issue we summarize relevant developments that took place during February and March of this year.

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CJEU Q-GmbH: license to use an insurance product and any ancillary mediation subject to VAT

This judgment could put pressure on the Dutch practice, where a combination of mediation and other services closely related to insurance that are performed as a single supply are regarded as fully VAT-exempt.

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CJEU Danske Bank: VAT on services provided by a head office to a fixed establishment as a result of a VAT group

The Danske Bank judgment differs from Dutch practice. This judgment could have major implications for the VAT treatment of intra-group services, in particular if there is a limited VAT recovery right.

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FS Tax Newsletter | February 2021

We hope you had a great start to 2021. After wrapping up the first month of the year, in this edition of the Financial Services Tax Newsletter we would like to summarize the relevant developments that took place in December 2020 and January 2021.

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New policy statement on VAT fixed establishments

The policy statement, among other things, lays down the Dutch viewpoint on the concept of a fixed establishment and the VAT treatment of transactions between a head office and a fixed establishment.

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Supreme Court interprets VAT exemption for collective asset management in broad terms: management of individual assets via investment profiles is exempt

On December 4, 2020 the Supreme Court rendered judgments in two important asset management cases.

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FS Tax Newsletter | December 2020

With the end of the year less than a month away and the Christmas holidays fast approaching you are probably busy wrapping things up and setting goals for next year. This last FS Tax Newsletter for the year 2020 briefly summarizes the relevant tax developments of the last few months.

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Dutch Supreme Court decision on Dutch withholding tax on dividends paid to foreign investment funds

The Supreme Court ruled that its earlier judgments from 2013 and 2015 were an incorrect interpretation of EU law and that foreign investment funds should be entitled to a refund of the Dutch dividend withholding tax paid if certain conditions are met. These conditions are however very difficult to meet.

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New questions to CJEU: towards a broader concept of fixed establishment for VAT purposes?

A Romanian Court recently sought a preliminary ruling from the Court of Justice of the European Union (‘CJEU”) about the concept of fixed establishment for VAT purposes in the Berlin Chemie case (C-333/20). This case again shows that the concept of fixed establishment for VAT purposes is evolving.

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