On 9 December the ECOFIN council approved an amendment to the EU parent subsidiary directive. The amendment introduces a general anti-avoidance rule, requiring member states to refrain from granting the benefits of the directive if (one of) the main purpose(s) of an...
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Standard For Automatic Exchange Of Financial Information In Tax Matters
On 29 October 2014, 51 countries endorsed the new G-20/OECD standard for automatic exchange of financial account information in tax matters by signing a multilateral competent authority agreement, based on the OECD’s “Convention on Mutual Administrative Assistance in...
EU Court of Justice Ruled Dutch Fiscal Unity Regime In Contravention
On the 12 June 2014, the European Court of Justice ruled that the Dutch fiscal unity regime (treating multiple group companies as one single taxpayer), contravenes to the EU principle of Freedom of Establishment. In essence the infringement was caused as the Dutch...
New Tax Arrangement For The Netherlands And Curacao
On 10 June 2014, the proposed new bilateral arrangement for the avoidance of double taxation for the Netherlands and Curacao (the “TNC”) was presented to Dutch Parliament. The TNC shall replace the current Tax Arrangement of the Kingdom and is expected to enter into...
Updated Decrees On APAs, ATRs And Substance Requirements
On 12 June 2014, five Decrees were published by the Dutch Underminister of Finance replacing the current 2004 Decrees on Advance Pricing Agreements (“APA”), Advance Tax Rulings (“ATR”) and “Substance Requirements”. Although the Decrees have affect as per 13 June 2014,...
Revised Draft Legislation Of The Russian Tax Code
On 27 May 2014 the Russian Ministry of Finance published a revised draft of amendments to the Tax Code of the Russian Federation, introducing controlled foreign corporation (CFC) regulations, “thin capitalization rules” and the concept of “effective place of...
OECD Publishes Discussion Drafts From The Base Erosion And Profit Shifting Project
The Organisation for Economic Co-operation and Development (OECD) has published Public Discussion Drafts on the topics of treaty abuse (14 March), hybrid mismatch arrangements (19 March) and the tax challenges of the digital economy (24 March 2014) in addition to the...
Supreme Court Rules Two Landmark Cases On The Dutch Participation Exemption
The Supreme Court rules in two landmark case on the qualification shares having certain features of debt instruments for the Dutch participation exemption. The Supreme Court ruled that shares in Dutch or foreign companies cannot be regarded as debt for Dutch tax law...
Netherlands And Curaçao Reach Agreement On New Bilateral Tax Arrangement
On December 12, the Dutch Ministry of Finance announced that Curaçao and The Netherlands have reached agreement on the text of a new bilateral arrangement for the avoidance of double taxation (the “Arrangement”). The Arrangement shall replace the current Tax...