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Tax Developments
June 15, 2012
On 4 June 2012, the State Secretary for Finance sent the draft law that executes the measures announced in the governmental budget agreement, also known as the Spring Agreement, to the Dutch House of Representatives. The measures included in the agreement were, for the most part, already known, but the draft law, its supplements, and the advice to the Council of State include some interesting points.
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June 14, 2012
The Dutch governmental budget agreement, also known as the “Spring Agreement,” includes the decision to reinstate the reduced value added tax (VAT) rate of 6% for performing arts and pieces of art, instead of the general VAT rate of 19%. The Secretary of State has now—ahead of a yet to be submitted draft law—approved that the reduced rate can be applied from 1 July 2012.
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June 07, 2012
The State Secretary for Finance has expanded the fight against value added tax (VAT) fraud in the trade of mobile telephones and computer chips due to signs that this type of fraud, known as VAT carousel fraud, is on the increase in the Netherlands. VAT carousel fraud is when a fraudulent supplier, also called the “missing trader,” charges VAT to a customer but does not pass it on to the tax authorities. The missing trader then “disappears,” leaving the tax authorities unable to collect.
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May 16, 2012
The Dutch Minister of Finance announced which measures have been included in the Austerity Budget Program to the European Commission. With regard to value added tax (VAT), there will be a rate increase to 21% beginning October 1, 2012. The lower VAT rate of 6% stays at its current level and will be reinstated for the performing arts, which had expired January 1, 2011.
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March 15, 2012
June 30, 2012 is an important date for taxpayers who may be eligible to recover value-added tax (VAT) paid to many European Union (EU) member countries. In many cases, VAT paid in 2011 may not be recoverable if the required documentation is not filed with the respective EU authority by this date.
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March 09, 2012
On 9 March 2012, the Dutch High Court came to a judgment in a case about the possibilities for charging VAT on the short-term letting of halls, in cases without a formal request and where the tenant does not have a certain right to deduct VAT. >More
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