On April 23, 2019, the Fiscal Unity Emergency Repair Act (Wet spoedreparatie fiscale eenheid) was adopted by the Upper House. We had previously explained the bill in our memoranda dated June 7, 2018, November 8, 2018 and February 13, 2019.
Lower House MPs Snels (Groen Links), Leijten (SP) and Nijboer (PvdA) intend to submit a private members’ bill amending the liquidation and cessation loss rules in the Corporate Income Tax Act 1969. On April 16, 2019 an internet consultation was opened on this, giving interested parties the opportunity to respond to the consultation document comprising the draft bill and a draft Explanatory Memorandum.
In a letter sent to the Lower House on April 23, 2019, the Deputy Minister of Finance announced the proposed policy statement, in which the measures for reforming the practice for rulings with an international character (hereinafter: international rulings) are elaborated.
This is the first edition of our new Tax Update for the Shipping & Offshore sector, in which we inform you about national and international developments, various court decisions, bills and practical experience relevant to the sector. Please use it to your advantage!
Shipping & Offshore Market Group
KPMG Meijburg & Co
Wilbert Kannekens, managing partner of KPMG Meijburg & Co, was recently named the "Best of the Best 2019" in the area of Tax for the Netherlands by the international specialist guide Expert Guides. The "Best of the Best" edition compiles the 30 globally considered top practitioners in 19 practice areas of law
On June 13, 2019, the Court of Justice of the European Union (‘CJEU’) rendered judgment in the IO case (no. C-420/18). This case concerns the VAT position of supervisory board members.
On February 26, 2019, the Court of Justice of the European Union (‘CJEU’) rendered two important judgments (on the anti-abuse rules in the Parent-Subsidiary Directive (PSD) and in the Interest and Royalties Directive (IRD), and on the beneficial ownership concept in the IRD (hereinafter: the February 26 judgments: pdf below this article).
On June 17, 2019, the Deputy Minister of Finance launched an internet consultation on an options document essentially containing four possible solutions for a new corporate income tax group rule. Interest groups, businesses, advisors, academics and other stakeholders are invited to submit a response. The consultation includes nine explicit questions that are linked to the possible solutions. The consultation procedure will end on July 29, 2019.
On June 20, 2019, the Court of Justice of the European Union (CJEU) rendered its judgment in the Oribalt Rīga (C-1/18) case on the factors relevant to calculating the customs value in accordance with the deductive method of Article 30(2)(b) of the Community Customs Code (CCC), in the special context of the customs valuation of imported medicines.
This is the second edition of our new 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!