The Spring Memorandum 2023 discusses several tax-related topics. Firstly, it mentions a loophole in Dutch tax law where owners of real estate can claim back VAT by renting out the property with VAT and then switching to exempted rental. The government is exploring the possibility of revising this rule to include costly renovation services. Secondly, from January 2025, virtual services for cultural, artistic, sporting, scientific, educational, or entertainment purposes will be subject to VAT in the country where the consumer resides. Thirdly, the government will examine the application of reduced VAT rates in various sectors such as horticulture, labor-intensive services, culture, and lodging. Lastly, the article talks about changes to the application of VAT and transfer tax in real estate share transactions, with the government proposing to eliminate the exemption of transfer tax for such transactions from 1 January 2024.
Source: kpmg.com
Latest Posts in "Netherlands"
- Submitted audit files in the event of multiple tax fraud do not fall under informal privilege of advisers
- No VAT Deduction for Invoices After Third-Party Attachment in Transport BV Case
- Amsterdam Court: Compensable VAT May Be Included in Municipal Levy Cost Calculations
- No Right to VAT Deduction for Invoiced Services Without Proof of Supply
- Compensable VAT in Municipal Fees Does Not Breach Revenue Limit
