A group of 80 technology companies from Silicon Valley in the United States wrote Prime Minister Mark Rutte a letter in May warning him of the consequences a deterioration in the Netherlands' tax climate will have, the Financieele Dagblad reports. The companies fear that a tougher approach from the Netherlands on multinational companies' tax avoidance will make the country less attractive for U.S. investors.
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 Dutch tax rules are attractive to large multinationals. The same is true for countries such as the United Kingdom, Switzerland and Luxembourg.