COVID-19

The coronavirus and your tax affairs. All news items at a glance.

Additional agreements about the second Jobs and Economy emergency package (Emergency package 2.0)

From a letter sent to the Lower House of Parliament on May 28, 2020, it appears that the government has further consulted with employer and employee organizations in response to Emergency package 2.0.

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Extension and expansion of Jobs and Economy emergency package (Emergency package 2.0)

More than two months ago the government announced a number of emergency measures in its ‘Jobs and Economy emergency package’ letter to the Lower House of Parliament dated March 17, 2020. These measures were intended to mitigate the first acute and widespread shock resulting from the coronavirus and the crisis measures introduced in this respect. On May 20, 2020 the government announced – once again in a letter to the Lower House of Parliament – that various measures in the first emergency package (Emergency package 1.0) would be extended and supplemented with new measures (Emergency package 2.0).

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NOW scheme amended for third time (first installment: NOW for the period through to June 1, 2020

By letter to the Lower House of Parliament dated May 20, 2020, the Minister of Social Affairs and Employment announced that the Temporary emergency bridging measure to retain jobs (Tijdelijke noodmaatregel overbrugging voor behoud van werkgelegenheid; NOW) as it applies to the period March through May 2020 would be amended for a third time.

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Transfer Pricing in the Corona Pandemic Disruption Era - an article by our experts

The onset of the Covid-19 pandemic has resulted in global business and economic disruptions with a direct impact on the transfer prices of multinational enterprises. Dianne Berry, Marcus Chadderton, and Eduard Sporken experts within our KPMG Global Transfer Pricing Services team, put their knowledge and expertise into an article for Bloomberglaw.com to look at what MNEs need to be doing to manage their transfer pricing arrangements.

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Second update of policy statement on corona crisis tax measures

The previous updated policy statement has now been replaced by the policy statement of May 6, 2020, in which the approvals in the previous policy statement are supplemented with new approvals, including with regard to the corona tax reserve, the normative salary and the work-related costs rules.

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Updated policy statement on corona crisis tax measures, including with regard to deferral of payment

By policy statement dated April 14, 2020 the Deputy Minister of Finance announced a number of specific approvals as a result of the corona crisis. That policy statement has now been replaced by the policy statement of April 22, 2020, in which the approvals in the previous policy statement are supplemented with new approvals, including with regard to deferral of payment, payment default penalties and the notification of inability to pay.

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Multilateral Instrument: Where do we stand?

The multilateral instrument (MLI) entered into force in the Netherlands on January 1, 2020. For many treaties this means that the application of such a treaty is not as self-evident as before. Do you want to avoid unpleasant surprises, also once the COVID 19 storm has died down? We have summarized the most important points of the MLI for you!

 

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Additional tax measures related to corona crisis announced

The government is introducing additional tax measures as a result of the corona crisis. By letter dated April 24, 2020 sent to the Lower House of Parliament, the Deputy Minister of Finance announced six measures, including the possibility to form a corona tax reserve that can be set off against the profit for the year 2019.

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Expansion of group approach in the NOW and easing of several other measures

By letter dated April 22, 2020 the Minister of Social Affairs and Employment announced an important expansion of the group approach in the NOW. We discuss this expansion briefly. We also discuss the announced easing of the unemployment insurance contributions differentiation and the imposition of penalties in respect of highly skilled migrants.

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