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The last step of the process of preparing the statutory financial statements is to file the financial statements with the Chamber of Commerce. To further optimise the digitalisation of this process, the Dutch authorities have developed the Standard Business Reporting (SBR) format (also known as XBRL format).

This judgment is not only important for the insurance of seagoing vessels, for which an exemption applies in the Netherlands, but also for the insurance of other vessels, which are subject, as starting point, to 21% insurance premium tax in the Netherlands.

The Supreme Court based its conclusion on a formal interpretation of the term ‘interest’ in the Legal Transactions Taxation Act and thus ruled differently to the Court of Appeals ‘s-Hertogenbosch, which, on January 24, 2020, had accorded an economic meaning to the term ‘interest’.

The end of the open limited partnership and major implications for mutual funds.

Now that the winter has ended and the weather is slowly getting better, we are issuing our second FS Tax Newsletter for 2021. In this issue we summarize relevant developments that took place during February and March of this year.

This judgment could put pressure on the Dutch practice, where a combination of mediation and other services closely related to insurance that are performed as a single supply are regarded as fully VAT-exempt.

On March 12, 2021 Bart Snels, Lower House Member of Parliament for the Greens (GroenLinks), published the Memorandum in response to the Report and a supplementary Memorandum of Amendment with regard to his private member’s Bill ‘Emergency Act on the Conditional Final Settlement of Dividend Withholding Tax’, which had been presented to Parliament on July 10, 2020.

The Danske Bank judgment differs from Dutch practice. This judgment could have major implications for the VAT treatment of intra-group services, in particular if there is a limited VAT recovery right.