Brexit Update: EU grants delay until January 31, 2020
After a long period of silence, there has been a rapid succession of Brexit developments. Our Brexit taskforce, comprising Brexit specialists from KPMG Meijburg & Co and KPMG, would like to update you on what has been happening.
Brexit update 1
On 29 March 2017, the United Kingdom’s (hereinafter: UK) Prime Minister, Theresa May, invoked Article 50 of the Treaty of the European Union (hereinafter: TEU). This marks the official beginning of the withdrawal procedure of the UK from the European Union (hereinafter: EU). In this short article we will take a glance at the meaning and consequences of the invocation of Article 50 TEU.
Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting signed by the Netherlands and other countries
On June 7, 2017, the Dutch Minister of Finance Dijsselbloem and other high-level representatives of 67 countries representing 68 jurisdictions signed the Multilateral Convention (“Multilateral Instrument” or “MLI”) to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) and improve dispute resolution mechanisms.
Facilitated Customs Arrangement: Does it work and at what price?
On July 12, 2018 UK Prime Minister Theresa May has published the long awaited Brexit White Paper. It is a comprehensive and ambitious plan which aims on the one hand to preserve a frictionless trade between the UK and EU and to resolve the Irish border issue, but also to achieve a UK independent trade policy, where the UK is able to conclude its own free trade agreements with third countries such as the USA. Read more
Brexit: INS announces transitional rules for right of residence of UK citizens in the Netherlands
‘No-deal scheme’
The government has decided that UK citizens and their family members who lawfully reside in the Netherlands before Brexit will also retain their right of residence in the event of a ‘no deal’. Brexit means considerable uncertainty for the many UK citizens living in the Netherlands. The announced transitional rules will finally make clear for this group where they stand.
Brexit: a never ending story?
Tuesday, 15th of January will be a crucial day in what seems to become a never ending story regarding the Brexit. Leon Kanters, Brexit expert and partner of KPMG Meijburg & Co: “The Brexit deal will be brought for a vote to the House of Commons in the UK. When we believe the media it will become a clear defeat for the British prime minister May.“
Dutch Lower House of Parliament passes Bill on ratification of the MLI
On February 12, 2019 the Dutch Lower House of Parliament passed the Bill for the ratification of the Multilateral Convention (“MLI”) to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (BEPS) and improve dispute resolution mechanisms. Noteworthy is that the Lower House also agreed to change the MLI position of the Netherlands with respect to preventing the artificial avoidance of permanent establishment status.
Draft decree on transitional tax rules in the case of no-deal Brexit
On March 8, 2019, the Deputy Minister of Finance sent a draft decree with transitional tax rules in connection with Brexit to the Lower House of the Dutch Parliament. The draft decree must provide for transitional rules with regard to a number of (elements of) Dutch tax laws in the event of a withdrawal of the United Kingdom (UK) from the European Union (EU) without a withdrawal agreement (no-deal Brexit).
Update on ‘no-deal’ Brexit: withdrawal rules for UK citizens and family members
In anticipation of a possible ‘no-deal’ Brexit, the Deputy Minister of Justice and Safety has published withdrawal rules for citizens of the United Kingdom and their family members who lawfully reside in the Netherlands on March 29, 2019. These provide for transitional rules applying until June 30, 2020, followed by final rules.