Over 10 large companies considering leaving the Netherlands
Over ten large listed companies are seriously considering moving out of the Netherlands, employers’ organization VNO-NCW told De Telegraaf. “A lot of listed companies are investigating the possible departure of their headquarters abroad,” chairman Ingrid Thijssen said. “You need at least two hands to count them.”
The companies are worried about the business climate in the Netherlands, with plans to implement more taxes and restrict labor migration. Tech company ASML has already warned that it will look mainly abroad for future growth. Dredging company Boskalis announced yesterday that it would relocate part of its headquarters to Abu Dhabi in the United Arab Emirates.
Thijssen would not give the names of listed companies considering a move but said that the list was getting longer and longer. She called it “extremely worrying.”
According to Henk Volberda, professor of strategy and innovation at the University of Amsterdam, the business community faces an accumulation of financial deterioration. A series of cuts are coming, not only in the expat schemes, he told the newspaper. “There are also intentions to cut back on the innovation box, the purchase of own shares will be taxed, the bachelor’s programs will have to be in Dutch, which means we will have fewer knowledge workers, and possibly the Growth Fund for fundamental investments in innovations will be abolished.”
The outgoing Cabinet launched “operation Beethoven,” aimed specifically at keeping ASML in the Netherlands. But the measures taken there will also benefit other companies. According to Telegraaf’s sources, the government is considering whether it can avoid a reduction in the expat scheme and scrap the plan to tax the purchase of own shares.
