Multinational companies which conduct business in the Netherlands will soon be forced to pay taxes on their profits, instead of creatively using an accounting loophole to avoid tax liabilities in the country. The ruling Dutch cabinet, led by third-term Prime Minister Mark Rutte, has reportedly agreed to back an initiative from the left wing opposition parties, according to broadcaster NOS and newspaper AD, both citing unnamed sources.
A group of Dutch multinational companies signed a pact and started a "broad movement" against "encroaching populism and negativism", two representatives of the movement said to Financieele Dagblad on Saturday. This movement will not only fight negativity, but also boost the Dutch economy, they said.
A third of the jobs in Amsterdam is provided by foreign multinationals - foreign companies with a subsidiary in the Netherlands. Over all of the Netherlands, foreign multinationals account for 20 percent of the jobs in the Dutch business world, compared to 23 percent for Dutch multinationals.