Between 2007 and 2015 a total of 4.5 million euros in donations were made each year in the Netherlands. 80 percent of donors came from the top 20 percent wealthiest Dutch households. And in nearly half of the cases, the money ended up with someone else in this same group. 90 percent of donations went from parent to child, Statistics Netherlands reported on Monday.
The Dutch Tax Authority made procedural mistakes in at least 78 tax rulings with multinational companies, State Secretary Menno Snels of Finance wrote in a letter to the Tweede Kamer, the lower house of Dutch parliament. The government will not abolish rulings, but will revise the way in which they are issued to prevent further mistakes, Snels wrote.
Single income families are falling behind in the Netherlands. Over the past years single-income homes paid relatively more tax than two-income households and that gap is only going to keep increasing, the Dutch office for economic policy analysis CPB said in a new report to the government. Single income households with children in particular pay more tax than similar two income households, RTL Nieuws reports.
With the new year starting, the Dutch government is implementing a number of new laws and changing some existing ones. Below is an explanation of changes to the law applying to work and income.
There are no secret tax agreements between the Royal House and the State, the Van Baalen committee concluded after almost a year of investigation into reports that the government in the 70s made a secret deal with the Royals about an extra compensation for taxes on the royal estate. "There was no secret deal", Carla van Baalen, professor of parliamentary history and committee leader, wrote in a 296 page report, NOS reports.
The VVD violated Dutch tax laws by not publishing financial information about four foundations donating money to the party, according to newspaper NRC.
According to the newspaper, the VVD, led by Henry Keizer, is directly responsible for the foundations. All four have so-called ANBI status. This means they pay less tax, but have to give insight into the money they receive and donate.
After talking with all 13 elected party leaders on Monday, "coalition scout" Edith Schippers will be meeting with the leaders of the VVD, CDA, D66 and GroenLinks today to discuss a possible coalition, RTL Nieuws reports.
ABN Amro has to pay 142 million euros in additional tax in agreement the bank reached with the tax authorities, Financieele Dagblad reports based on internal documents. According to the newspaper, the extra tax has to do with tax liability of two companies ABN Amro owns.
The two companies - Simba Finance and Pumbaa Finance - invested in governmentbonds and have 2.1 billion euros and 2.2 billion euros in assets respectively. In the prospectus the bnk wrote that the results of the companies do not have to be added to their own results.
After 13 years of absence, the Netherlands is back in the top 10 of the most competitive countries in the world, according to IMD's annual World Competitive Yearbook. The Netherlands came in 8th place this year, climbing 7 spots since last year
Online gambling website Unibet was named the new main sponsor of the Netherlands national cycling association KNWU. The company’s six green dot logo, without its name, has prime real estate on the association’s new cycling shirt concept, wedged in between the KNWU logo and the flag of the Netherlands.
The International Monetary Fund believes that the Dutch tax system encourages the accumulation of debt and has advised the Dutch authorities to address the situation. According to the IMF, both Dutch businesses and individual consumers are guilty of borrowing too much.
The CEO of American electric car manufacturer, Tesla, officially opens a second Tesla factory in the Netherlands on Friday evening, alongside the Minister of Economic Affairs, Henk Kamp. The nearly 50,000-square meter factory hires 180 workers, and stands alongside an assembly line and test track for the electric cars.
Sources close to the secret cabinet negotiations on a package of tax reforms say that the government is planning to increase sales tax on many goods and services to generate an extra five billion euros in revenues, according to the NRC. The cabinet wants to raise the tax to balance out an effective cut in income tax for many living in the Netherlands.
After a week of speculation, the Dutch cabinet has reached an agreement to a package of reforms for the country’s tax system. The governing coalition, consisting of the right wing VVD and left wing PvdA (Labour) parties, has negotiated the deal almost entirely in secret, and will hear from a handful of opposition parties behind closed doors only, Labour leader Diederik Samsom said on Monday.
The Netherlands owe even more money to the EU in additional tax than previously thought, reports Telegraaf. The amount due is estimated at 133 million euros, which comes on top of 1.1 billion euros already paid in additional taxes to the European Union last year.
The Netherlands is the first and only country to pay the additional tax owed to the European Union, reports Telegraaf. Other states that have to pay extra, according to newer calculations, are Bulgaria, France, Italy, Cyprus, Malta, Slovenia and United Kingdom.
A pending reorganization at the Dutch tax authority Belastingdienst will likely result in the elimination of 4,000 to 5,000 jobs. The staff cuts are due to improvements to computer systems that reduced the need for many spot checks done by workers, reports broadcaster NOS.
A total of more than 8.5 million people submitted their tax returns before May 1st. According to the Rijksoverheid, this is more than the previous year.
People who still haven't done their tax returns now have five extra days to do so, the Ministry of Finance announced on Thursday. Tax returns now have to be in by May 5th at the latest, instead of April 30th.
During his visit to Washington, Finance minister Jeroen Dijsselbloem promised to address and reform the capital gains tax before the Budget Day, De Telegraaf reported on Monday.
The upcoming tax treaty between the Netherlands and Germany will only take effect on January 1st, 2016.
Next year tax payers will have an extra month to file their income tax. The income tax will only have to be filed by May 1st, instead of April 1st.
Dutch society loses about €30 billion annually to fraudsters, including scams such as insurance fraud and swindling with benefits. The guilty parties are rarely caught, according to daily newspaper Metro.
More and more classic car owners go back to petrol and remove LPG systems to pay less tax, as shown in the statistical data collected by RDW. In recent years the number of vintage cars which owners have decided to remove LPG has increased in more than four times.