Important judgment on tax classification of financial instrument

On May 17, 2024 the Dutch Supreme Court rendered an important judgment on the tax qualification of a financial instrument that was issued by a company established in France in 2007. It concerned the ‘obligation remboursable en actions’ (hereinafter: ORA). The question was whether the instrument had to be regarded as equity (capital) or debt capital (loan) for the purposes of the Corporate Income Tax Act 1969. Although the dispute focused on the question whether the costs related to the issue of the instrument were allocable to a Dutch permanent establishment of the French company, the Supreme Court judgment potentially has a much broader scope.

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Tax changes announced in the 2023 Spring Memorandum

May 4, 2023
In particular, property owners, businesses faced with business successions and Box 3 investors will experience the effect of these plans.
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Dutch Supreme Court persists with strict interpretation of actual use for VAT recovery right purposes

November 11, 2022
This case is not only relevant for financial institutions, but also for other taxpayers performing VAT-taxed and VAT-exempt services.
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Amendment of VAT policy statement: broader application of asset management exemption

November 3, 2021
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 ...
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CJEU’s K and DBKAG judgment: right to use software can qualify as VAT-exempt asset management

June 21, 2021
The fact that the right to use software can itself fall within the VAT exemption is a welcome clarification for Dutch practice in light of the increasingly automated asset management market.
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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

December 7, 2020
On December 4, 2020 the Supreme Court rendered judgments in two important asset management cases.
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AG of the Supreme Court: management of individual assets via investment profiles is subject to VAT

September 25, 2020
On September 23, 2020 Advocate General to the Supreme Court, Ms. C.M. Ettema, issued Opinions in two interesting asset management cases.
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VAT recovery based on actual use permitted for bank

March 30, 2020
On March 27, 2020 the Court of Appeals Den Bosch rendered an interesting judgment about the recovery of VAT in a case concerning a financial institution. The Court ruled that the bank’s ‘actual use me ...
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VAT policy statement on specific state supervision of investment funds

April 8, 2019
On April 1, 2019, the Deputy Minister of Finance (hereinafter: Deputy Minister) published the Specific State Supervision Policy Statement, effective April 2, 2019. In this policy statement the Deputy ...
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