The Dutch Government opened a public consultation on proposed changes to the conditions to be met for the exemption of real estate transfer tax to apply in case of a legal demerger
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On April 8, 2024 the Dutch Government opened a public consultation regarding proposed adjustments to the conditions to be met for the exemption of real estate transfer tax to apply in case of a legal demerger. More specifically amendments proposed to Article 5c of the Implementation Decree on Taxes on Legal Transactions. The consultation period runs from April 8, 2024 to May 6, 2024.
The AG proposes the CJEU to annul the EC’s decision that the special rule for certain financing income as in included in the CFC regime as applicable in the UK between 2013 and 2018 constituted illegal State Aid
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On April 11, 2024 on the website of the Court of Justice of the European Union (CJEU) the opinion of Advocate General Medina in the joined cases C‑555/22 P (United Kingdom of Great Britain and Northern Ireland versus the European Commission), C‑556/22 P (ITV plc versus the European Commission) and C‑564/22 P (LSEGH (Luxembourg) Ltd and London Stock Exchange Group Holdings (Italy) Ltd versus European Commission).
Position of the Dutch tax authorities published on the qualification of an English/Welsh Limited Liability Partnership for Dutch tax purposes
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On April 10, 2024 on the website of the Dutch tax authorities an interesting position paper of the Knowledge Group tax liability and qualification legal forms has been published. In the position paper the Knowledge Group answered the question which criteria are to be used when qualifying a Limited Liability Partnership (Hereinafter: LLP) that has been established under the laws of England or Wales (Hereinafter: the UK) for Dutch tax purposes. The qualification applies to the levying Dutch Corporate Income tax, Dutch Individual Income Tax, Dutch Dividend Withholding Tax and Dutch Withholding Tax (KG:211:2024:7).
De Nederlandse overheid heeft een consultatie geopend met betrekking tot aanpassing van de splitsingsvrijstelling in de overdrachtsbelasting
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Op 8 April 2024 heeft de Nederlandse overheid een consultatie geopend met betrekking tot aanpassing van de splitsingsvrijstelling in de overdrachtsbelasting, meer in het bijzonder een wijziging van artikel 5c van het Uitvoeringsbesluit belastingen van rechtsverkeer. De consultatieperiode loopt van 8 april 2024 tot 6 mei 2024.
The Irish Department of Finance opened a public consultation on a Strawman proposal for the introduction of a participation exemption for foreign dividends
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On April 5, 2024 the Irish Department of Finance opened a public consultation on a Strawman proposal to introduce a participation exemption for foreign dividends to the Irish corporation tax system. In this respect the Irish Department of Finance has published a so-called Feedback Statement. The consultation period runs from April 5, 2024 to the close of business on May 8, 2024.
Evaluation of the Dutch 30% Allowance and the possibility to tax exempt reimburse extraterritorial costs that are actually incurred by an employee
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As you might have heard the so-called 30% Allowance is under fire in the Netherlands. As commissioned by the Dutch Ministry of Finance in this respect, SEO Amsterdam Economics is evaluating the facilities to reimburse extraterritorial costs incurred by employees that came from abroad. On March 26, 2024 SEO Amsterdam Economics released 2 questionnaires (1 for employers and 1 for employees) that will be used to evaluate, not only the Dutch 30% Allowance, but also the possibility to tax exempt reimburse extraterritorial costs that are actually incurred by an employee that has come from abroad. The questionnaires can be completed until at the latest Sunday April 14, 2024.
Position of the Dutch tax authorities on the application of the liquidation loss scheme in case of the dissolution and liquidation of an entity that previously was a sub-subsidiary of the taxpayer
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On March 28, 2024 on the website of the Dutch tax authorities a position paper of the Knowledge Group participation exemption answered the question what the amount of liquidation loss to be taken into account amounts to in the event of the dissolution and liquidation of a former sub-subsidiary (KG:023:2024:4). Prior to this dissolution and liquidation, this sub-subsidiary incurred a loss on the alienation of its subsidiary (a sub-sub-subsidiary of the taxpayer). Subsequently (direct) subsidiary of the taxpayer was dissolved and liquidated, as a result of which the shares of the (former) sub-subsidiary came into the possession of the taxpayer.
The Liechtenstein government issued a regulation on the minimum taxation of large groups of companies
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During its meeting of March 26, 2024, the government of Liechtenstein adopted a regulation on the minimum taxation of large groups of companies (The GloBE Regulation). The regulation serves to implement the global minimum taxation in accordance with the decision of the OECD/G20 Inclusive Framework on BEPS (Base Erosion and Profit Shifting).
Position of the Dutch tax authorities on the scope of substitution with respect to the participation exemption in case of a legal demerger
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On March 25, 2024 on the website of the Dutch tax authorities a position paper of the Knowledge Group reorganization facilities and fiscal unities answered the question whether the substitution of Article 14a of the Dutch Corporate Income Tax (DCIT) Act means that Article 13, Paragraph 16, of the DCIT Act applies to a 3% shareholding that was obtained through a legal demerger and that before the legal demerger was part of a 6% shareholding that the demerging legal entity held. (KG:032:2024:2).
De Nederlandse Hoge Raad wijkt af van het advies van de AG in de volgende artikel 10a Vpb - fraus legis zaak
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Op 22 maart 2024 is op de website van de Rechtspraak het bijzonder interessante arrest van de Hoge Raad in zaaknummer: 21/01534, [X] I B.V. tegen de Staatssecretaris van Financiën, ECLI:NL:HR:2024:469 gepubliceerd. Deze zaak betreft (wederom) een private equity overname waarbij de belastingplichtige de financieringslasten ten laste van de fiscale winst van de target wil laten komen.
The Australian Treasury opened 2 public consultations on draft legislation to implement Pillar 2 in Australia
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On March 21, 2024 the Australian Treasury opened 2 separate public consultations regard to sets of draft legislation to implement a global and domestic minimum corporate tax rate of 15% in Australia.
The opinion of the Advocate General in Case C‑39/23 (Free movement of capital – Difference in treatment of dividend distributions to resident and non-resident public pension funds)
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On March 21, 2024 on the website of the Court of Justice of the European Union (CJEU) the opinion of Advocate General Collins in the Case C‑39/23, Keva, Landskapet Ålands pensionsfond and Kyrkans Centralfond versus Skatteverket, ECLI:EU:C:2024:265, was published.
The opinion of the Advocate General in Case C‑585/22 (Deductibility of interest due on a loan predominantly motivated not by commercial considerations, but by the objective of creating a deductible debt)
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On March 14, 2024 on the website of the Court of Justice of the European Union (CJEU) the opinion of Advocate General Emiliou in the Case C‑585/22, X BV versus the Dutch Staatssecretaris van Financiën, ECLI:EU:C:2024:238, was published.
De belastingdienst heeft een kennisdocument gepubliceerd over kosten ter zake van de verwerving of vervreemding van een deelneming
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On 15 maart 2024 is een bijzonder interessant kennisdocument van de Kennisgroep deelnemingsvrijstelling op de website van de belastingdienst gepubliceerd. Het betreft een kennisdocument waarin aandacht wordt besteed aan de kosten ter zake van de verwerving of vervreemding van een deelneming. Het kennisdocument is gebaseerd op de stand van zaken van de jurisprudentie op 1 februari 2024.
The European Commission launched a consultation for the evaluation of the Council Directive on Tax Dispute Resolution Mechanisms
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On March 12, 2024 the European Commission he European launched a targeted consultation giving stakeholders the chance to give feedback on the functioning of the EU’s framework to help resolve cross-border tax disputes for businesses and citizens in relation to double taxation issues. The deadline for submissions to this consultation is May 10, 2024.
Nieuw besluit: “Vennootschapsbelasting. Verliesverrekening, toepassing artikel 20a van de Wet op de vennootschapsbelasting 1969” gepubliceerd
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Op 8 maart 2024 is in de Staatscourant van het Koninkrijk der Nederlanden een nieuw Besluit: “Vennootschapsbelasting. Verliesverrekening, toepassing artikel 20a van de Wet op de vennootschapsbelasting 1969” gepubliceerd. In het nieuwe besluit heeft de staatssecretaris een vijftal standpunten toegevoegd met betrekking tot de toepassing van dit artikel 20a. Het nieuwe besluit treedt in werking op 9 maart 2024. Het op 8 maart 2024 gepubliceerde besluit vervangt het besluit van 17 april 2020, nr. 2020-19072, dat wordt ingetrokken met ingang van 9 maart 2024.
De Nederlandse overheid heeft een consultatie geopend inzake een btw-herziening diensten onroerende zaken
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Op 5 maart 2024 heeft ‘de Nederlandse overheid een consultatie geopend inzake een aanpassing van de herzieningsregeling zoals die al geldt voor (on)roerende investeringsgoederen zoals opgenomen in de uitvoeringsbeschikking omzetbelasting 1968. De consultatie periode loopt van 5 maart 2024 tot en met 2 april 2024.
The opinion of the EESC on the Proposal for a Council Directive on Faster and Safer Relief of Excess Withholding Taxes has been published in the Official Journal of the EU
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On March 5, 2024 the opinion of the European Economic and Social Committee (EESC) on the Proposal for a Council Directive on Faster and Safer Relief of Excess Withholding Taxes has been published in the Official Journal of the European Union. The opinion of the EESC is positive with some recommendations.
During the G20 the director of the EU Tax Observatory advocated for the necessity of a globally coordinated 2% minimum tax on substantial fortunes
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During a press conference on February 29, 2024 Economist Gabriel Zucman, serving as Minister Fernando Haddad's special guest in the G20 debate on the taxation of large fortunes, advocated for the necessity of a globally coordinated minimum tax on substantial fortunes, set at a minimum of 2% annually.