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On 21 June 2016, the EU Council finally agreed on the draft EU Anti-Tax Avoidance Directive (ATAD). The agreement was reached following discussions by the Economic and Financial Affairs Council. Taxand Netherlands presents an overview of this update.
The draft Directive lays down anti-tax avoidance rules in five specific fields: interest deduction limitation, exit taxation, general anti-abuse rule, controlled foreign company rules and rules on hybrid mismatches.
Compared to the earlier proposals there are some substantial amendments made and the switch-over clause has been eliminated.
Member States need to implement these minimum rules in their legislation before 1 January 2019, with an exception for the rules on exit taxation (1 January 2020) and the rules on interest deduction (postponed to 1 January 2024 subject to certain conditions).
Discover more: Agreement on EU Anti-Tax Avoidance Directive
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We advise Dutch taxpayers to read, review and apply the advice given from each of the proposals given in this article, especially the expected impact on the Dutch tax regime.