Brexit – Dutch authorities sends temporary residence permit to UK nationals in the Netherlands
To ensure that UK nationals and their family members may remain living in the Netherlands legally in the event of a no-deal Brexit, the IND has started to send temporary residence permits as of March 13, 2019.
In this manner UK nationals and their family members living in the Netherlands can stay in the Netherlands legally after the Brexit and thus do not have to leave the...
France – France does not want to wait any longer for a European digi tax for internet companies
On Wednesday March 6, 2019, the French cabinet will discuss a plan to levy taxes on the turnover in France of large internet companies such as Google, Apple, Facebook, Amazon, Booking Airbnb and Uber.
The 3% on turnover shall apply to all internet companies with a worldwide turnover of more than € 750 million and a turnover in France of more than € 25 million and will be...
The Netherlands – European commission warns EU members States that their “Golden Visa Schemes” pose risk to EU security.
EU member states have earned about € 25 billion in the last decade from wealthy individuals who obtained citizenship in a EU country in return for their investment. A report from the EU commission claims that the schemes designed to encourage wealthy individuals to invest in return for residency rights or citizenship pose a danger to the continent’s security.
By obtaining residency...
Italy – This time Gucci’s owner Kering SA owes about € 1.4 billion to Italy in back taxes
Kering SA, the Paris-based luxury goods conglomerate, which owns brands such as Gucci, Saint Laurent, Balenciaga, and Alexander McQueen revealed that the Italian tax authorities completed a tax audit report covering the years 2011 through 2017. According to the tax audit report, Luxury Goods International (LGI), a Swiss subsidiary of Kering, conducted business activities in Italy which...
UK – Increased numbers of footballers under investigation by the tax authorities
It was recently revealed that the HM Revenue and Customs (HMRC) is looking into the financial affairs of 173 football players, 40 clubs and 38 agents in the UK, as it claws back of £ 355.000.000 from the football sport.
The focus on football came after the 2017 budget, when all businesses were instructed to change “image rights” payments to their employees. Image rights...
USA – IRS is waving the estimated tax penalty for many taxpayers
Under certain circumstances the estimated tax penalty is waived for taxpayers whose 2018 Federal income tax withholding and estimated tax payments fell short of their total tax liability for the year that under certain circumstances.
In principle, a penalty applies at tax filing if too little is paid during the year. However, the penalty would not apply for 2018 if tax...
The Netherlands Maintain correct address of foreign employees to avoid mandatory Dutch wage tax rate of 52%.
As of January 1, 2019 employer must apply the highest tax rate of 52% in the Dutch payroll if the correct address of their foreign employees is not recorded properly.
Next to the highest wage tax rate, instead of the lower average wage tax rates, the following applies as well in the payroll:
No payroll tax credit is allowed.
Employer’s social security...
The Netherlands Expatriate employees in the Netherlands? Be aware of the new and transitional rules for the 30% expat ruling.
As of January 1, 2019 the duration of the 30% ruling will be reduced to a maximum period of 60 months. For existing 30% rulings there is a transitional rule that should be implemented in the Dutch payroll as follows:
End date of existing 30% ruling
30% applies up to
2019 or 2020
the date mentioned on the 30% ruling
2021, 2022 or 2023
December...
Possible break-up scenario for the large big four accounting firms to fight a crisis of confidence
The Netherlands – The patience of State Secretary of Finance in the Netherlands, Mr. W. Hoekstra, with the large accountancy firms is gone. He commissioned an independent committee to investigate what measures are needed to improve the quality of the statutory audit of large companies. Hoekstra wants the committee to check whether it is at least desirable to completely separate the audit...
United Kingdom – Risks for companies engaged with “one man” limited, due to extended IR35 rules
One of the announcement from the 2018 Budget, affecting employment in the United Kingdom was confirmation that IR35 rules will be extended in the private sector.
Under these new rules, the responsibility of deciding whether an individual is correctly working outside IR35 will move from the individual itself to the organization working with the individual. As a consequence, the engaging...