News

On March 31, 2017 a draft bill on the implementation of the Ultimate Beneficial Owner (UBO) register was presented for public consultation. The bill results from the European Directive 2015/849 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing and seeks to implement a central register which contains information on ultimate beneficial owners (“UBO”) of companies or other legal entities which are incorporated in the Netherlands. The UBO register will be part of the trade register and such the Commercial Register Act 2007 will be adjusted. More details on the relevant definitions will be included in an Order in Counsel (algemene maatregel van bestuur).

Rechtbank Gelderland heeft onlangs een interessante uitspraak gedaan die van belang kan zijn voor de private-equity praktijk. Volgens de rechtbank vormt de verkrijging van een lucratief belang met een envy-factor geen loon.

A new Decree Participation Exemption (the “Decree”), dated 20 January 2017, has been released. The Decree describes further guidelines on the participation exemption regime and replaces the previous Decree of 12 July 2010. The Decree provides for a large number of editorial changes as well as several new approvals and clarifications on the participation exemption rules.

Recently the Advocate General (“AG”) rendered its opinion on the Dutch interest deduction limitation rule of article 10a CITA. According to the AG article 10a CITA is also applicable in case of a group debt that is indirectly financed with external debt if the group debt and the external debt are not almost identical.

On 21 February 2017, the Ecofin reached an agreement on the proposed amendments to the Anti-Tax Avoidance Directive (“ATAD”) which neutralizes the effects of hybrid mismatches between EU members states and third countries. For the Netherlands, the most relevant provisions concern the CV/BV structures with the US.

... as the BeNeLux alternative for transfer pricing and valuation services, yet with a distinct approach.

Met veel genoegen kondigen Atlas en Tiberghien de lancering aan van T/A economics. Dit nieuwe samenwerkingsverband tussen Tivalor (in samenwerking met Tiberghien) (België en Luxemburg) en Atlas Fiscalisten (Nederland) creëert een Transfer Pricing adviesbureau met bereik over de gehele BeNeLux.

Het credo van T/A economics luidt ‘creating exponential value through shared experiences.’ Dit is terug te zien in de manier waarop de krachten worden gebundeld van Tivalor (transfer pricing, valuations, business & legal economics) en Atlas (transfer pricing en valuations). Hierdoor is T/A economics in staat haar cliënten bij te staan met een onderscheidende, geïntegreerde en grensoverschrijdende aanpak in de gehele BeNeLux. Wereldwijd heeft T/A economics een bereik in meer dan 100 landen door haar partnerschap met WTS.

... as the BeNeLux alternative for transfer pricing and valuation services, yet with a distinct approach.

Atlas and Tiberghien are pleased to announce the launch of T/A economics, a joint venture between Tivalor, a Belgium and Luxembourg based economist boutique (in cooperation with Tiberghien), specialized transfer pricing and valuations, and the Amsterdam based transfer pricing team of Atlas Tax Lawyers.

T/A economics’ credo is to create exponential value for its clients through the sharing of experiences. Combined, the former teams of Tiberghien/Tivalor (business & legal economics) and Atlas (transfer pricing) will be able to offer their clients a distinct, integrated, borderless service approach throughout the BeNeLux, and global interconnectivity through its partnership with Atlas, Tiberghien and the WTS Global network, present in over 100 countries.

Roelof Gerritsen and Ivo Kuipers, both partners at Atlas Tax Lawyers in the Netherlands, look at why the country will remain a prime location for multinationals and foreign investors as governments worldwide transition towards more harmonised tax rules in line with the OECD’s BEPS Project.

1. Introduction The Luxembourg direct tax authorities issued on 27 December 2016 new guidelines by means of the issuance of Circular L.I.R. no. 56/1 – 56bis/1 (hereinafter the “Circular”) which deals with the Luxembourg tax treatment applicable to Luxembourg companies…

As announced earlier in 2016, the Netherlands has enacted a new innovation box regime as of January 1, 2017, in line with the outcomes of the OECD’s BEPS project (Action Plan 5). The new legislation has a grandfathering period until 2021 for (qualifying) intellectual property (“IP”) developed before July 1, 2016.

Because of the new regulations, all existing innovation box rulings with the Dutch tax authorities have been cancelled as of January 1, 2017.