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 and economic measures relating to the coronavirus

March 13, 2020

The corona pandemic will also have a profound impact on the Dutch business community. The financial and economic consequences may also be considerable. By letter dated March 12, 2020 the government th ...

Advocate General at the CJEU in BlackRock VAT case: a single fund management service is, in principle, not partly VAT-exempt

March 12, 2020

On March 11, 2020 Advocate General (‘AG’) Pikamäe at the Court of Justice of the European Union rendered his Opinion in the BlackRock Investment Management (UK) Limited case (C-231/19). The AG conclud ...

Acquisition of only the legal ownership of shares in real estate legal entities is not subject to real estate transfer tax

March 4, 2020

The judgment rendered by the Court of Appeals ‘s-Hertogenbosch could also be important in practice with regard to shares in real estate legal entities that are acquired by investment funds without leg ...

BEPS 2.0 Update: A new tax system for the digital era

March 2, 2020

On 24th of October, 2019, the roundtable session 'BEPS 2.0 Update' took place at KPMG Meijburg & Co. As a result, a report was made with interesting findings and feedback on the OECD consultation ...

Tax Update Shipping & Offshore - February 2020

February 24, 2020

This is the first Tax Update in 2020 for the Shipping & Offshore sector, in which we inform you about national and international developments, various court decisions, bills and practical exp ...

Brexit: right of UK citizens to reside in the Netherlands

February 19, 2020

On January 31, 2020 the United Kingdom left Europe. A withdrawal agreement (‘deal’) was negotiated under which UK citizens and their family members who lawfully resided in the Netherlands before the B ...

OECD Update: final guidance on transfer pricing aspects of financial transactions

February 13, 2020

On January 31, 2020, the OECD hosted a webcast that provided an update on the work relating to the tax challenges arising from the digitalization of the economy, as well as a number of recent and upco ...

OECD Update: 'Unified Approach' promising for acceptance

February 2, 2020

On 31st of January, 2020, the OECD gave an update on the outline for a global taxation of multinationals: 'Unified Approach'. Jaap Reyneveld, partner at KPMG Meijburg & Co: “It looks like the 'Uni ...

eRecognition mandatory for businesses filing their own tax returns

January 21, 2020

If you file your own payroll tax or corporate income tax returns via the portal of the Dutch tax authorities, we recommend that you apply for eRecognition (eHerkenning) in good time. It appears from t ...

Final Dutch VAT return of 2019: Correction based on the VAT Deduction Exclusion Decree and the private use of company cars

January 15, 2020

We have updated our memorandum regarding the VAT correction on promotional gifts and other benefits, such as staff benefits. Furthermore, the VAT correction based on the private use of company cars is ...

Transfer Pricing Developments around Europe: What to expect in 2020

January 8, 2020

Global developments in transfer pricing reflect the ongoing priorities in international tax. We continue to see proposed changes to policies and OECD proposals with significant impact on current regul ...

FS Tax Newsletter | January 2020

January 7, 2020

Last year our first FS Tax Newsletter for 2019 discussed the CJEU judgment rendered in the Morgan Stanley case, concerning the right of a branch to recover input VAT if it (partially) provides support ...

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