30 Sep
EACC & Member News

Deloitte: 2022 Dutch Tax Plan – Budget Day (Prinsjesdag)

On 21 September 2021, the government submitted the 2022 Tax Plan Package to the Lower House. This package includes the following bills:

  • 2022 Tax Plan
  • 2022 Miscellaneous Tax Measures
  • Act amending the tax treatment of stock option rights
  • Act introducing delegation provisions for compensation in cases of hardship
  • Act implementing the tax liability measure from the second EU Anti-Tax Avoidance Directive.
  • Rate reduction and monthly adjustments to the landlord levy

Moreover, a bill has been presented that aims to counter mismatches in the application of the arm’s length principle in corporate income tax.

Most measures will enter into force on 1 January 2022. Where this is not the case, we have indicated this. The bills may be amended during their parliamentary debate. The proposed measures per type of tax type are listed below.

Webcast Tax Plan 2022

Corina van Lindonk, Aart Nolten and Eddo Hageman discussed the most noticeable measures of Tax Plan 2022.

View (in Dutch) 

Measures by type of tax:

Corporate income tax and dividend witholding tax

Outline of corporate income tax and dividend withholding tax measures

Wage and income tax

Outline of wage and income tax

VAT and excise

Outline of VAT and excise

Procedural tax law, collection of taxes and supplementary benefits

Outline of procedural tax law, collection of taxes and supplementary benefits

Car taxes and environmental taxes

Outline of car taxes and environmental taxes

Landlord levy and property transfer tax

Outline of landlord levy and property transfer tax

 

Schedule parliamentary debate Tax Plan 2022

Tuesday 21 September 2021 Budget Day: introduction.
Wednesday 29 September 2021 Closed technical briefing by civil servants of the Ministry of Finance.
Wednesday 6 October 2021 Contribution date for the report.
Tuesday 19 October 2021 Memorandum of reply.
Monday 25 October 2021 First legislative consultation.
Thursday 28 October 2021 Written answers to questions in response to the first legislative consultation.
Monday 1 November 2021 Second legislative consultation.
Tuesday 9 and Wednesday 10 November 2021 Plenary hearing.
Thursday 11 November 2021 Letter on evaluation of motions and amendments.
Thursday 11 November 2021 Voting.
16 Feb
EACC & Member News

Houthoff launches the Dutch Scheme Tool: a visualisation tool for the new Dutch Scheme (Wet Homologatie Onderhands Akkoord)

Houthoff launches the Dutch Scheme Tool: a visualisation tool for the new Dutch Scheme (Wet Homologatie Onderhands Akkoord). The tool is freely and publicly available at whoa.houthoff.com.

WHAT IS THE DUTCH SCHEME?

The Dutch Scheme is a Dutch pre-insolvency procedure inspired by the scheme of arrangement in the UK Companies Act 2006 and Chapter 11 of Title 11 of the US Bankruptcy Code. The Dutch Scheme allows a debtor or restructuring expert to propose a plan that may help avoid the debtor’s insolvency. The Dutch Scheme entered into force on 1 January 2021.

The Dutch Scheme combines a fast and flexible framework for concluding pre-insolvency schemes with a high degree of deal certainty. Such instrument did not exist in Dutch insolvency law until now. As a framework, the Dutch Scheme does not prescribe the contents of a plan. Proponents can draft a plan as they see fit (e.g. extending and/or reducing debt, debt for equity swap, sale of assets, limited to only a subset of the capital structure, etc.). The Dutch Scheme provides plan proponents with a high degree of flexibility on structuring the process (e.g. timing, electronic voting, etc.).

A two-pager describing the key features of the Dutch Scheme can be found here.

WHAT DOES THE DUTCH SCHEME TOOL DO?

The Dutch Scheme Tool visualises the changes in a company’s capital structure, outstanding liabilities and value distribution under a possible plan under a Dutch Scheme. As such, the Scheme Tool offers you a first visual impression of a proposed plan under a Dutch Scheme and helps better understand such plan. In addition, the Scheme Tool offers a first rough analysis whether the main tests for confirmation (homologatie) of the plan under the Dutch Scheme are likely met or not. We invite anyone to try the Dutch Scheme Tool at whoa.houthoff.com.

HOUTHOFF’S RESTRUCTURING AND INSOLVENCY PRACTICE GROUP

The Tool is developed by the Restructuring and Insolvency practice group at Houthoff. For more information about Houthoff’s Restructuring and Insolvency practice please click here.

13 Oct
EACC & Member News

Deloitte: Side-by-side comparison of Biden’s and Trump’s tax policy

On November 3, 2020, the 59th United States presidential elections will be held. President Donald Trump (Rep.) will try to get re-elected against challengers Joe Biden (Dem.), former vice-president of the Obama administration. Based on announcements and publications made available so far, it is clear that both candidates have (strongly) diverging agendas ranging from (US and international) tax topics to broader policy considerations and issues such as the Economy, Healthcare and Climate Change.

Given that differences between the plans of Trump and Biden as well as the uncertainty regarding the outcome/winner, these elections can potentially have a big impact for international businesses headquartered or operating in the United States.

Download the full report for a side-by-side comparison of Biden’s and Trump’s respective proposals. The publication offers a high-level discussion of the two candidates’ tax policy proposals on TCJA and other issues, along with a side-by-side comparison of their positions on certain key tax questions.

Side-by-side comparison of Biden’s and Trump’s tax policy proposals

19 Mar
EACC & Member News

A word from our Presidents

Dear Members,

Our transatlantic relationship continues to be put to the test with the emergence of the COVID-19 pandemic confronting international business on a scale not seen since the advent of the financial crisis. The European American Chamber of Commerce will address the challenges that the pandemic brings together with focus and resolve, and in a spirit of collaboration and in recognition of our shared interests.

We see our collective role supporting our members by sharing information and facilitating the connections you need to navigate this difficult period in an effort to restore business confidence and growth.

Our Executive Directors are currently working together on a series of transatlantic webinars for you and your teams to bring you in the upcoming weeks the kinds of thought leadership that has exemplified  our programs since our founding. We encourage you to use them a resource and to share best practices with other members on both sides of the Atlantic. Please do not hesitate to reach out to your local chapter with your ideas and requests for assistance.

Keep safe and healthy.

Nathalie BERLIET (Lyon), Howard DANIEL (Carolinas),  Myrthe GÖRTZEN (Netherlands), Guillaume MARTINEZ (France), James ROSENER (New York),  Yannick SCHILLY (Cincinnati),  Alan SUTIN (Florida)

The Presidents of the EACC Chapter Network

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