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01 July 2021 / news

Legislative proposal new Dutch entity tax classification rules postponed and FGR no longer part of this proposal

On 1 July 2021, the Dutch state secretary of Finance announced that the intended changes to the Dutch tax classification rules for Dutch funds for joint account (FGRs) will not be part of the general legislative proposal to overhaul the current Dutch tax classification rules for entities. The intended changes for FGRs will now be reviewed at a later stage.

Legislative proposal new Dutch entity tax classification rules postponed and FGR no longer part of this proposal

Recently, the Dutch state secretary of Finance already announced that the legislative proposal (Proposal) to overhaul the current Dutch tax classification rules for Dutch and foreign entities (see also our Tax Flash) will not be published on Budget Day 2021 and thus not enter into force as from 2022. Instead, the Proposal is expected to be published in the coming winter. In a subsequent letter dated 1 July 2021, the Dutch state secretary of Finance furthermore announced that the changes to the Dutch tax classification rules for Dutch funds for joint account (fondsen voor gemene rekening or FGRs) will not be part of the Proposal. Reason being that various concerns were raised during the initial public consultation to the Proposal regarding the potential implications that the new definition of the FGR may have for institutional investors. In particular, as institutional investors often participate in FGRs that apply the Dutch fiscal investment institution (FBI) regime or exempt investment institution (VBI) regime. For this reason, the changes to the FGR tax classification rules will be reviewed as part of the intended evaluation of the FBI- and VBI-regimes (expected in the first quarter of 2022).

Should you have any questions or comments, please contact your trusted advisor at Loyens & Loeff.



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