Key Benefits:
Law of 13 December 1996 amending the Law on Corporate Tax 1969 with a view to combating erosion of the tax base and the strengthening of fiscal infrastructure
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 considered that it would be desirable, in order to prevent erosion of the tax base and to strengthen fiscal infrastructure for internationally operating companies, to reduce the amount of Law of corporation tax 1969 to be amended;
In this way, we, the Council of State, and with the mean consultations of the States-General, have been well-regarded and understood to be right and to be understood by the following:
1 During the years 1997 to 2001, a body or a natural person receiving interest shall not be entitled to the income, not to the income, the interest accruing under the income tax. Article 10 A of the Law on Corporate Tax 1969 In determining the profits of the person who is owed the interest not deducted.
2 Article 13 Ca from the Law of corporation tax 1969 shall apply only in respect of a loss of losses to the extent that the decrease in the value of the holding below the amount of the sum paid relates to a year commendation with or after 1 January 1997.
1 This Act shall enter into force from the day following the date of issuance of the Official Gazette in which it is placed.
2 The Articles I and II apply for the first time with regard to the levy for the year starting on or after the date of entry into force of this Act.
3 For an equity holding in or a membership of a body not established in the Netherlands to which the participation exemption applies in the last year preceding the entry into force of this Act, it Article I, Section C .3. by way of derogation from the second paragraph, for the first time, with respect to the third-year charge starting on or after the date of entry into force of this Act.
Burdens and orders that are in the State Sheet will be placed, and that all ministries, authorities, colleges and officials who so concern will keep their hands on the precise execution.
Given in Gravenhage, 13 December 1996
Beatrix
The Secretary of State for Finance,
W. A. F. G. Vermeend
Published 23rd December 1996The Minister of Justice,
W. Sorgdrager
