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US tax haven claim surprises Dutch

Tuesday 05 May 2009

US president Barack Obama has announced a series of measures to shut down offshore tax havens which could have implications for American firms with Dutch subsidiaries.

A briefing note attached to Monday's announcement stated that 83 of the 100 largest US corporations have subsidiaries in tax havens, most notably the Cayman Islands, Bermuda, Ireland and the Netherlands.

And the Netherlands, Bermuda and Ireland claimed nearly a third of all foreign profits reported in 2003 by US corporations, the briefing note said.

Surprise

A spokesman for the finance ministry, quoted in free newspaper Spits, said the US embassy in Washington has contacted the US authorities in order to 'share its surprise' about the claims.

The spokesman said the Netherlands has 'very average taxation pressure'.

In 2006, researchers at the multinational research foundation SOMO said more than 20,000 multinationals and private individuals – including the Rolling Stones – are based in the Netherlands in order to cut their tax bills elsewhere.

© DutchNews.nl



 

Readers' Comments

the Netherlands is a tax haven ?
how?

By Dr.No. | 5 May 2009 4:08 PM

Let's not forget, that's exactly why Bono and his U2 buds moved all their affairs from Ireland to NL. Of course, the ministry has to feign surprise, because it's only a tax haven if you're already massively wealthy - the rest of us are screwed. Nice to know it's the usual form of bottom up taxation policy. Hurrah for social, eh, what now?

By Stephen | 5 May 2009 4:33 PM

Typical hypocritical system. The Netherlands attracts foreign capital here from wealthy international jet-setters by offering them special low taxes. The rest of us are stuck with high (52%!) taxes. I guess The Netherlands does not want to attract me and my capital to remain here since I am not wealthy enough. I guess I will leave (and take my money with me) and only come back when I have a few million in the bank.

By Matt | 5 May 2009 6:03 PM

The Netherlands a tax haven? I must be missing out on something here, the last time i checked my payslip the 'taxman' had quite a fat chunk of it.
Why does it not suprise me that its only ever the people who already have lots of money who are the only ones to get a good deal

By Danny | 5 May 2009 7:05 PM

Something is very wrong with this picture here. This is not the easiest country to open a business in, so I do not buy that this is a tax haven for USA businesses.

By Sandra | 6 May 2009 1:10 PM

Question /answer for Sandra; "so I do not buy that this is a tax haven for USA businesses."
Actually...they open a small office outside the US and falsely claim on US taxes that is the headquarters of the business. It all equates to billions lost to veracious greed every year. The money never really leaves the greedy fingers in the US...There's always a price tag on being a liar.

By Ed | 9 May 2009 2:32 PM

food is 6% tax non food is 19% tax. i know this becouse im living in the netherlands.

By jord drent | 21 May 2009 10:36 AM

 
 
 
 
 
 
 
 
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