Dutch Budget Day: main changes for corporate taxpayers
On 15 September 2020 (Prinsjesdag), the Dutch Ministry of Finance submitted the 2021 Dutch Budget to parliament. The Budget is impacted by the corona crisis and the government is committed to overcome this crisis by means of various investments. This is for instance reflected by introducing a temporary job-related investment incentive per 2021.
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Other proposed changes include:
- Carry forward of losses unlimited in time as from 2022, but with certain quantitative limitations;
- Formal submission of the earlier proposed limitation to deduct losses on liquidation of participations and permanent establishments;
- Leaving the main corporate income tax rate at 25%, but extending brackets for the SME rate;
- Increase of the effective tax rate for the innovation box to 9%;
- Increase of the general tax rate for real estate transfer tax to 8%; and
- Technical changes to certain interest deduction limitations and anti-hybrid rules.
The announced measures if adopted will be in force as of 1 January 2021, if not specified otherwise. Of course, measures may change during the parliamentary process.
Finally, also (investigations on) other future changes were announced today, which are highlighted hereafter.
We will keep you updated on further developments. Should you have queries, please contact your trusted adviser at Loyens & Loeff.
Guido DerckxPartner Tax adviser
Guido Derckx, senior tax adviser & partner, is a member of the Family Owned Business & Private Wealth practice group, as well as of the Investment Management and Corporate Tax Services practice groups in our Amsterdam office.T: +31 20 578 56 25 M: +31 6 53 56 41 90 E: firstname.lastname@example.org
Ruben van der WiltTax adviser Senior associate
Ruben van der Wilt, tax specialist, is a member of the Tax Knowledge Centre in our Amsterdam office. He focuses on Dutch and relevant international (corporate) tax developments.T: +31 20 578 53 87 M: +31 6 13 13 61 16 E: email@example.com