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ARTICLE · 20 SEPTEMBER 2011

Legal Alert - Dutch 2012 Tax Bill Released

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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Yesterday, following a leak in the Dutch press of the Dutch Annual Budget papers, the draft 2012 Tax Bill was released.

NetherlandsTax
Dick Hofland
Dick Hofland
Wiebe Dijkstra
Wiebe Dijkstra
Paul Sleurink
Paul Sleurink
Okke Suurenbroek
Okke Suurenbroek
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Summary

Yesterday, following a leak in the Dutch press of the Dutch Annual Budget papers, the draft 2012 Tax Bill was released. The following elements of the Tax Bill are particularly relevant for the private equity industry.

  • In cases where a Dutch holding company acquires at least 95% of the shares of a Dutch target company and forms with it a fiscal unity for corporate income tax purposes (allowing them to file a consolidated tax return), the deductibility of interest on acquisition debt, including debt owed to third parties, will be restricted if and to the extent such interest exceeds EUR 1 million and the debt-to-equity ratio of the fiscal unity group exceeds 2:1.
  • Dutch cooperatives will be subject to Dutch dividend withholding tax in certain cases considered to be abusive.

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