Banking tax law

Original Language Title: Wet bankenbelasting

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Law of 12 July 2012 establishing a Banking Tax (Banking Tax Act)

We Beatrix, at the grace of God, Queen of the Netherlands, Princess of Orange-Nassau, etc. etc. etc.

All of them, who will see or hear these, saluut! do know:

In this regard, we have taken the view that it is desirable to provide for a banking tax in addition to other measures to strengthen financial stability in the Netherlands;

It is true that we, the Department of Consultative Affairs of the Council of State, and with the mean consultations of the States-General, have found and understand the same as We approve and understand:


§ 1. General provisions

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Article 1

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Under the name of the banking tax, a tax is levied on the Section 2 Taxable persons mentioned.


Article 2

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For the purposes of this Act and the provisions based thereon, the following definitions shall apply:


§ 2 Tax duty

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Article 3

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Tax liability for the banking tax is as follows:


Article 4

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  • 1 If the financial data of a body as intended in Article 3 are included in consolidated accounts drawn up by a body established in the Netherlands:

    • a. In accordance with the international accounting standards referred to in Article 4 of the IAS Regulation adopted in accordance with the procedure referred to in Article 6, second paragraph, of that Regulation; or

    • b. according to Title 9 of Book 2 of the Civil Code ,

    By way of derogation from Article 3 , not the former entity's tax liability, but the body established in the Netherlands that has drawn up those consolidated accounts. If the financial data of a body as referred to in Article 3 are included in a consolidated financial statement drawn up by that body as referred to in the first sentence, that body shall not be based on Article 3 but on the basis of that document. Article tax.

  • 2 If the financial records of a body liable to tax under the first paragraph are included in the consolidated accounts of another body which is liable to tax under the first paragraph, by way of derogation from the first paragraph of that Article, Member, only the latter entity shall be liable to tax.

  • 3 The first paragraph shall not apply if the balance sheet total of the body referred to in Article 3 , whose financial data is included in the consolidated accounts referred to in paragraph 1, or, where the financial data of several entities referred to in Article 3 are included in those consolidated accounts, the financial data for the financial statements of the financial statements of the consolidated accounts of the financial statements of the consolidated accounts of the Total amount of the balance sheet total of those bodies:

    • a. Less than the Article 9 the amount of the compensation for the purposes of the purposes of the aid; or

    • (b) less than 10% of the consolidated balance sheet total as shown by the consolidated accounts.


Article 5

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  • 1 If the financial data of a body as intended in Article 3 are not included in consolidated financial statements drawn up by another person established in the Netherlands because the latter is subject to the application of Article 403 of Book 2 of the Civil Code has been entitled to renounce, by way of derogation from Article 3, the taxable person if the written declaration provided for in Article 403, part f, of Book 2 of the Civil Code, which is required for the waiver of the certificate, is liable to be subject to tax relief. of a consolidated financial statements was issued by a body not established in the Netherlands. If the financial data of a body as referred to in Article 3 are not included in a consolidated financial statement drawn up by that body because that body is subject to the application of Article 403 of Book 2 of the Civil Code shall not be entitled to waive that body pursuant to Article 3 but under this Article, if the written declaration referred to in Article 403, part f, of Book 2 of the Civil Code, which is required to enable it to be authorised to waive a consolidated financial statement has been issued by a body not established in the Netherlands.


§ 3. Basic taxable amount

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Article 6

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  • 1 The tax is levied on the taxable amount.

  • 2 The taxable amount is the taxable sum, as referred to in Article 7 , reduced by the efficiency exemption provided for in Article 9 .


Article 7

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  • (1) Where a taxable person is referred to in the Article 3 , the rateable sum is the balance sheet total of the balance sheet, minus the balance sheet total. Article 8 said liabilities of that balance sheet.

  • (2) Where a taxable person is referred to in the Article 4 , is the taxable sum of the consolidated balance sheet total of the consolidated balance sheet minus the consolidated balance sheet total of the consolidated balance sheet. Article 8 said liabilities of that consolidated balance sheet.

  • (3) Where a taxable person is referred to in the Article 5 , is the taxable sum of the consolidated balance sheet of the consolidated balance sheet of the consolidated financial statements that is to be drawn up as Article 403 of Book 2 of the Civil Code would not have been applicable, reduced by the in Article 8 said liabilities of that consolidated balance sheet.


Article 8

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The liabilities in question Article 7 , are:

  • a. in respect of a taxable person as referred to in Article 3 (a) , Article 4 or Article 5 :

    • 1 °. the ability to review;

    • 2 °. the deposits, in so far as they are eligible for payment under a deposit guarantee scheme;

    • (3) the liabilities relating to the entity carrying out the insurer's holding;

  • b. in respect of a taxable person as intended Article 3 (b) or (c) :

    • 1. liabilities which are not attributable to the branch situated in the Netherlands;

    • 2 °. the amount of review to be allocated to the branch;

    • 3 °. The deposits to be allocated to the branch shall, in so far as they are eligible for payment of deposit-guarantee schemes, be eligible for payment.


Article 9

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  • 1 The efficiency exemption shall be € 20 000 000 000.

  • 2 If the amount of the taxable sum, Article 7 , less than € 20 000 000 000, the amount of the taxable amount shall be the taxable amount.


§ 4. Rate

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Article 10

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  • 1 The tax shall be the sum of:

    • a. 0,044% on the part of the taxable amount obtained by multiplying the taxable amount by A/B, where A is the total amount of the debts on the balance sheet or consolidated balance sheet that are to be taken into account have less than one year and B have the total amount of all debts on that balance sheet or consolidated balance sheet; and

    • b. 0,022% on the remaining part of the taxable amount.

  • 2 Where the variable remuneration of at least one driver of the taxable person for the financial year on which the balance sheet or consolidated balance sheet is drawn up exceeds 25% of his fixed remuneration, the rates of taxation shall be, Referred to in the first paragraph, multiplied by a factor of 1,1.


§ 5. Levy method

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Article 11

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  • 1 The tax is to be paid on declaration.

  • 2 The tax shall become chargeable on the first day of the 10th calendar month after the date on which the balance sheet or consolidated balance sheet was drawn up.

  • 3 If the annual accounts to be charged for taxation have not yet been determined at the time the tax is due under paragraph 2, the tax shall not be payable at that time, but on the first date of the tax day of the calendar month following the date of adoption of those financial statements.

  • 4 By way of derogation from the second and third paragraphs, to a taxable person referred to in Article 5 the tax payable on the first day of the 10th calendar month after the date on which the consolidated balance sheet was to be drawn up as intended for the period Article 7, third paragraph .


§ 6. Index

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Article 12

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The Article 9 the amounts indicated shall be changed every five years from 1 January of one year by ministerial arrangement. This amendment will take place for the first time on 1 January 2018. The Articles 10.1 and 10.2 of the Income Tax Act 2001 shall be applicable mutatis mutandis, except that being taken as a correction factor shall be the product of the table correction factors of the last five calendar years. The calculation shall be rounded up to a multiple of € 100 000 000. The amount of the compensation shall be rounded up to the nearest multiple of € 100 000 000.


§ 7. Other provisions

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Article 13

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Under a ministerial arrangement, rules may be laid down whereby the inspector may, under conditions to be laid down by the inspector, authorise the taxable person to calculate the taxable amount in a currency other than the euro. It shall specify, inter alia, the exchange rate to be converted into the other unit of funds and at which rate the taxable amount calculated in the other monetary unit shall be converted into euro. The inspector shall decide upon the application for an objection of a possible decision.


Article 14

Compare Versions Save Relationships (...) (External Link) Permanent Link [ Red: Change the Law on Corporate Tax 1969.]

Article 14a

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Article 14a

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Article 15

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This Act shall enter into force on a date to be determined by Royal Decree and shall apply for the first time to taxation the chargeability of which has arisen on or after that date, subject to the proviso that Article 14a :

  • a. shall enter into force with effect from 1 July 2012, where the Official Journal of the State in which this Law is placed is issued before 1 July 2012;

  • b. as of the first day of the month following that in which the issuing of the Official Gazette has taken place, in case the issue of that Official Gazette takes place after 30 June 2012 but before 1 October 2012;

  • c. does not enter into force in cases where the Official Journal of the State in which this Act is placed is issued after 30 September 2012.


Article 16

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This law is cited as: Banking tax law.

Burdens and orders that it will be placed in the Official Gazette and that all ministries, authorities, colleges and public servants who so far as to do so will keep their hands on the precise execution.

Entry

' s-Gravenhage, 12 July 2012

Beatrix

The Minister of Finance,

J. C. de Jager

The Secretary of State for Finance,

F. H. H. Weekers

Issued the eighteenth of July 2012

The Minister for Security and Justice,

I. W. Opstelten