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New rules, more revenue: Netherlands stop tax tricks for multinationals

2019-09-17T16:20:10.087Z

TIME ONLINE | News, backgrounds and debates



The Hague (dpa) - Large corporations like Shell, Philips or AkzoNobel have to tax their profits fully in the Netherlands from 2021 onwards.

The previous favorable arrangements for multinational companies would be canceled, said the Ministry of Finance in The Hague at the presentation of the budget. The new scheme is estimated to bring in € 265 million a year, the ministry said.

So far, international companies can claim losses abroad from the tax authority in the Netherlands and significantly lower their tax on profits. The oil company Shell, for example, had confirmed in May media reports, according to which he did not have to tax his profits from 2016 to 2018. That was legal under the rules.

Because of such rules, the Netherlands are attractive to many companies and some have relocated there. As a tax haven, the country was internationally criticized. The center-right coalition now joins an initiative of the left and green opposition parties.

The Ministry of Finance also wants to combat tax avoidance and the smuggling of funds in tax havens. So today's rules to reduce corporate tax are to be abolished.

Source: zeit

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