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Dijsselbloem U-Turns On Dutch Corporate Tax

by Ulrika Lomas,, Brussels

13 January 2017

Just weeks after suggesting the Dutch corporate tax rate should be reduced, Finance Minister Jeroen Dijsselbloem appears to have reversed his position.

In an interview with Dutch newspaper Algemeen Dagblad earlier this month, Dijsselbloem said that an increase in the 25 percent corporate tax rate would restore "the balance between ordinary Dutch and international companies, and between workers and the wealthy," although he stopped short of suggesting what the new rate should be.

However, the Finance Minister emphasized that he was speaking on behalf of the Dutch Labor Party, of which he is a senior member, rather than for the Government.

Dijsselbloem's comments were made as the country's political parties gear up for the next general election, to be held on March 15, 2017, with the Labor Party opposed to the idea of corporate tax cuts.

However, his words were at odds with remarks he made in a November 2016 interview with Dutch broadcaster RTLZ, when he said that the Netherlands would find it harder in future to compete with other countries on tax unless it cut corporate tax rate, as the Government aligns the country with the OECD BEPS recommendations by repealing deductions and special tax schemes for multinational companies.

For its part, the center-right Dutch People's Party, the largest party in the governing coalition, has said that it would seek to cut corporate tax for all companies following the election. The party's manifesto also calls for a reduction in taxes on labor, a cut in capital gains tax, and simplification of the tax regime.

TAGS: Finance | tax | Netherlands | corporation tax | BEPS

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