After years of a budget deficit, the Dutch government managed to achieve a budget surplus in 2016. And that surplus is even 14 times larger than previously expected - a massive 2.9 billion euros, according to Statistics Netherlands on Friday. The Dutch economy also gew more than expected in previous estimations, RTL Nieuws reports.
Thanks to higher than expected revenue and lower than expected spending, the Dutch government is left with a 200 million euros surplus on the 2016 budget, Minister Jeroen Dijsselbloem of Finance said in a letter to parliament on Thursday, ANP reports.
The surplus can almost entirely be attributed to the total tax and premium revenue of last year, which came out 3.1 billion euros higher than projected. Expenses were 0.2 billion euros lower. In the Autumn calculations the government still expected a budget deficit of 3.1 billion euros.
The Netherlands is implementing a total of 50 changes to Dutch law as of January 1st, 2017. These changes affect everything from the minimum wage and what is covered in the basic health insurance package to the amount in mortgage you can borrow when buying a house.
The Dutch government published their annual roundup of law changes in the week before Christmas, broken down into nine categories. Find the summary below.
The Netherlands is still making secret tax deals with multinational companies, according to an European report on which Dutch research foundation SOMO worked. The Netherlands remains one of the ost important countries in Europe when it comes to tax evasion, the report states according to ANP.
Last year the Netherlands made 236 secret tax deals. That means that the country is 3rd in Europe in the number of secret tax deals made with multinationals last year. Only Belgium and Luxembourg made more.
The government announced a financial windfall of 4.3 billion euros on Friday. According to Finance Minister Jeroen Dijsselbloem, the money came from Dutch citizens paying more corporation tax, income tax and VAT than expected due to the improving economy. And the sale of 65 million ABN Amro shares, which brought in 1.3 billion euros, NOS reports.
Roughly 165 thousand people filed their taxes right at the May 1 extended deadline. Nearly nine million individuals filed their taxes on time, an increase of about 400 thousand compared to a year earlier, the tax office announced on Monday.
The Tax Authorities received over 6.8 million tax returns before the deadline of April 4th. That is nearly 980 thousand more than were received around this date last year
Petrol prices in the Netherlands dropped to 1.30 euros per liter for the first time in six years today
A total of 57 law changes will go into effect in 2016. Significant laws will come into play that affect everything from tax payouts, crowd funding & crowd financing, daycare subsidies and even a new language requirements for welfare benefits.
Wealthy Dutch people are abusing tax havens abroad to prevent from being taxed on 129 billion euros in deposits, a former tax inspector told television show Nieuwsuur. The money is held in the accounts of shell companies based in the Cayman Islands, Seychelles and Virgin Islands, among other locations, the researcher, Jan van Koningsveld, said.
The police contract conflict and strikes are expanding to other sectors. Teachers, customs officers, tax officials and public transport drivers, among others are considering eventual strikes over the wage agreements the government and unions made just before the summer holidays.
The price of crude oil has almost halved over the past year, but this price decline has had little effect on the price of petrol and diesel. Over the same period, the petrol price decreased by an average of only 5.1 percent.
The tax authorities in the Netherlands launched an investigation into vacation rental and temporary housing website Airbnb to determine the amount of unpaid income tax landlords still owe. Investigators are concerned that homeowners using Airbnb to supplement their income are not declaring additional rental income.
The leader of the FNV union, Ton Heerts, spoke against social services for freelancers in an interview with FD. He says self-employed people making use of disability, sickness and unemployment benefits undermines the entire social welfare system.
The government is planning on reducing administrative burden for free-lancers and the self-employed. This is stated in the letter sent to the Parliament on Monday by the Finance Minister Eric Wiebes.
The Netherlands will sign treaties with 23 African nations aimed at preventing locally operating enterprises from using Dutch jurisdiction to evade taxation in their countries. The enterprises will be prevented from formally locating themselves in the Netherlands simply by registering a post office box, reports Volkskrant.
The number of hybrid cars in the Netherlands rose by a fourfold between 2009 and 2014, reports Statistic Netherlands (CBS). There are currently 156 thousand hybrid vehicles in the country. In 2014, 30 thousand vehicles were purchased, with three-quarters of those purchased by a business.
Expanding local authorities' capacity to levy taxes need not diminish residents' disposable income, says a policy brief published Thursday by the Dutch Central Planning Bureau (CPB). It also argues that a more localized approach to taxation collection may create 15,000 additional jobs over time.
The real disposable income of households was 2.5 percent higher in the 3rd quarter of 2014 than in the same period last year, Statistics Netherlands announced today. The disposable income of households also increased in the first two quarters of this year.
Sex workers who work without a contract with the government will soon have the tax authorities after them. State Secretary Eric Wiebes of Finance made this promise in a letter to the Second Chamber.
In the European front runners debate on the television program EenVandaag, the D66 and PVV disagreed on the topic of whether Europe should also become a political union. PVV-front runner Marcel de Graaff debated D66's Sophie in 't Veld.
Singles with a low income, and who take in their mother or father, could feel stiff financial drawbacks to this from 2015. The lower the collective income, the more adult children and their parents will have to hand in if they start living together again.
Tenants are staging mass protests against a new regulation that would see hundreds of thousands of people earning above average pay an extra 4-6.5 percent on their rent per 1 July. Hundreds of people have announced that they are landing in money problems because of this.