News

November 30, 2021

NL-Africa Tax Desk newsletter – November 2021

The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month's newsletter includes several updates on the 2022 tax measures in Ghana, Zambia and Zimbabwe. Next to that, we have seen developments focused on tackling international tax avoidance with Mauritania and Rwanda joining OECD initiatives in this regard and the tax policy debate in the Netherlands moving towards increased international exchange of information on Dutch intermediate holding companies.

 

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November 30, 2021

Expansion of relief package 4th quarter 2021

The current expansion involves, among other things, the introduction of the fifth Temporary emergency bridging measure to retain jobs (Tijdelijke noodmaatregel overbrugging voor werkbehoud; NOW 5).

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November 26, 2021

Report of the Conduit Companies Committee

The report contains 15 recommendations, divided into six tax and nine non-tax policy options. At the same time, the Deputy Minister of Finance sent the government’s response to this report to the Lower House of Parliament.

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November 19, 2021

Relief package 4th quarter 2021

On November 16, 2021, the government announced and explained several changes to the relief package for the fourth quarter of 2021; this in anticipation of approval by the European Commission.

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November 15, 2021

Supreme Court renders judgment on the standard practice criterion in the work related costs rules

On November 12, 2021 the Supreme Court rendered judgment in the proceedings initiated by KPMG Meijburg & Co concerning whether net share bonuses can qualify as part of the final levy for the purposes of the work-related costs rules (werkkostenregeling).

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November 12, 2021

Year end 2021 tax accounting considerations

As the end of the year is fast approaching, many organizations will soon start preparing their year end financial statements. The announced 2022 Tax Plan may have a significant impact on those financials and especially the income tax position. The impact should be reflected once the 2022 Tax Plan is (substantively) enacted.

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November 11, 2021

Lower House of Parliament votes on the 2022 Tax Plan package and the bill on Combating mismatches in the application of the arm’s length principle Act

We have briefly outlined the adopted amendments and a selection of the adopted motions.

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November 3, 2021

Amendment of VAT policy statement: broader application of asset management exemption

On November 2, 2021, the updated Specific State Supervision Policy Statement of the Deputy Minister of Finance was published. The updating of the original policy statement was necessary due to Supreme Court case law, which entailed a broader interpretation of specific state supervision than that in the earlier policy statement.

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October 28, 2021

NL-Africa Tax Desk newsletter – October 2021

The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month’s newsletter includes several updates on the international tax environment. We have seen jurisdictions of the OECD/G20 Inclusive Framework - representing more than 90% of global GDP - approve an eight-page statement finalizing several key aspects of a framework for reforming the international tax system.

 

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October 18, 2021

2022 Tax Plan package amended again via Memorandums of Amendment

The proposals include raising the top corporate income tax rate to 25.8% and tightening the generic interest deduction limitation by reducing the deduction percentage from 30% to 20% of the EBITDA for tax purposes.

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October 6, 2021

2022 Tax Plan package amended via Memorandums of Amendment

Among other things, the possibilities for setting off holding company losses have been limited and the permanent establishment concept has been expanded for the purposes of withholding tax on interest and royalties.

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October 4, 2021

Country-by-Country Reporting: overview of notification requirements per country

Meijburg & Co has updated the overview of the CbCR notification requirements for all countries that have (currently) implemented final CbCR legislation as from 2016, 2017, 2018, 2019, 2020 and 2021.

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