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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). 

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. 

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.

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. 

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).

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. 

This is the third edition of our Tax Update for the Shipping & Offshore sector, in which we inform you about national and international developments, various court decisions, bills and practical experience, which are both current and relevant to the sector. Please use it to your advantage!

Shipping & Offshore Market Group
KPMG Meijburg & Co

On September 6, 2019 the Deputy Minister announced that a bill would be presented before the summer of 2020 to amend the taxation of income from savings and investment in Box 3. According to the initial calculations, taxpayers with only savings would, in effect, no longer have to pay tax on their savings up to approximately EUR 440,000.

On Budget Day, September 17, 2019, the Cabinet presented the 2020 Tax Plan package to the Lower House. In this memorandum we address the most significant changes proposed for payroll taxes and social security contributions. 

Brexit is not far away anymore. Robert van der Jagt, Brexit expert and partner of KPMG Meijburg & Co: “Being blessed by the presence of an Environment Assessment Agency (Planbureau voor de Leefomgeving), the Dutch know who will be the winners and who will be the losers of the Brexit.