NetherlandsAccounting and Audit
This is contribution number five by KPMG Meijburg & Co regarding Dutch tax relief available to entrepeneurs engaged in operating sea-going vessels.
This article is most likely to be relevant for investments by Dutch companies engaged in the operation of sea-going vessels (ie shipping activities).
On July 14, 1994, the Dutch Parliament adopted a Bill regarding the promotion of ocean shipping activities ("the Bill"). The Bill entered into force retroactively as of January 1, 1994. Furthermore, the Bill should still be checked by the Commission of the European Union. The Bill provides for the granting of facilities to ocean shipping companies.
The effect of the facility can be twofold: eligible entrepreneurs can choose between a tax measure (the "ocean shipping relief") and a subsidy. The ocean shipping relief provides for a tax-deductible expense. The size of the deduction depends on, among other things, the size of the qualifying investments in sea-going vessels. The
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