News

September 2, 2019

“An aging population and digitization are eroding the tax base.”

A digitizing economy and an aging population are creating financial problems for governments and forcing them to look at the financing of public expenditure over the longer term. In other words, the sources of taxation. What is the solution? Robert van der Jagt, partner at KPMG Meijburg & Co, explains.

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August 27, 2019

“In a digital world, we don’t just tax profits in the country where a business has a physical presence.”

Most international businesses pay taxes via local offices (permanent establishments) on profits they realize in other countries. But in today’s digital economy there is often no such thing as a permanent establishment, despite the fact that products and services are sold in several countries, and customers create information that is valuable. Should the country where the customers are located therefore not also be able to tax part of the profits? Michael van Gijlswijk, partner at KPMG Meijburg & Co, explains these developments in more detail.

 

 

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August 26, 2019

“Consumers are now digital resources that are mined without being paid for.”

The current tax system is no longer adequate because it is not designed for digital business models like Airbnb, Uber, or Amazon. This gives rise to international tax debates, which sometimes raise the question whether we should fall back on ‘old-fashioned’ tax systems. Digital technology, the virtual presence, is new. However, the fundamental cornerstone of taxation - where profits are realized - is not. Even in the Dutch colonial era, a pertinent question was which part of the profits of multinationals could be attributed to the Dutch East Indies and taxed there. Fred van Horzen, partner at KPMG Meijburg & Co, explains.

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August 9, 2019

FS Tax Newletter | September 2019

This newsletter includes VAT-related topics covering, for example, the VAT position of supervisory board members and similar officials and the possibility of VAT on compensation in the event of premature termination of (lease) agreements. In addition, DNB’s guidance on tax integrity risks for banks and two bills, one about the Mandatory Disclosure Directive and one about ATAD2, will be discussed.

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July 16, 2019

Bill implementing the Mandatory Disclosure Directive (DAC6) presented to Lower House

On July 12, 2019, the bill to implement the EU Directive on mandatory disclosure (DAC6), which took effect on June 25, 2018, was presented to the Lower House. This Directive provides for the mandatory automatic exchange of information on reportable cross-border arrangements. A public consultation on a draft of the bill took place at the end of 2018/beginning of 2019; see our previous memorandum on this. The bill that has now been presented to the Lower House is addressed below. 

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July 15, 2019

Supreme Court judgment on bonus shares and fixed exemption in the work-related costs rules (standard practice criterion)

On July 12, 2019, the Supreme Court published the judgment in a case litigated by Meijburg & Co concerning the question whether the allocation of bonus shares can be placed under the fixed exemption of the work-related costs rules. In this judgment, the Supreme Court formulated reference points for applying the standard practice criterion (gebruikelijkheidtoets).

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July 12, 2019

EU and Mercosur concluded on trade agreement

After 20 years of negotiations, the European Union and Mercosur states - Argentina, Brazil, Paraguay and Uruguay, on June 28, 2019 reached a political agreement for an ambitious, balanced and comprehensive trade agreement. 

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July 11, 2019

Brexit: ‘We agree to disagree’

Who will be elected by the members of the Conservative Party? Will it be Boris Johnson or Jeremy Hunt? For the time being, Boris Johnson seems to be the favourite. On 22 July it will be announced who will be the new Prime Minister of the United Kingdom. Leon Kanters, Brexit expert and partner of KPMG Meijburg & Co, explains the current developments in his blog.

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July 10, 2019

Supreme Court confirms broad interpretation of VAT group

In the Netherlands, multiple VAT taxable persons can together be regarded as a VAT group. This is particularly favorable in the case of a limited VAT recovery right. 

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July 9, 2019

No VAT recovery for university’s investment activities

On July 3, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the University of Cambridge case (C‑316/18). This case concerns the VAT recovery right of a university that collects gifts and donations and subsequently invests them in order to use the proceeds to finance part of its business activities. 

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July 5, 2019

Possibility of VAT on compensation in the event of premature termination of a lease agreement

On July 3, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the UniCredit Leasing EAD case (‘UniCredit’; no. C-242/18). 

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July 4, 2019

Bill on implementation of ATAD2 presented to the Lower House

On July 2, 2019, the bill to implement the amendment to the EU Anti-Tax Avoidance Directive (ATAD2) was presented to the Lower House. As a result of this amendment, the Directive now combats both hybrid mismatches among EU Member States and between EU Member States and third countries. 

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