Tuesday 16 August 2022

The Netherlands may too cut corporate taxes in stages: minister

Photo: DutchNews.nl

The Netherlands may be able to reduce corporation taxes in the coming years, finance minister Jeroen Dijsselbloem said on Tuesday.

Dijsselbloem was reacting to comments made by British prime minister Theresa May who hinted Britain may cut corporation tax again to remain competitive in a post Brexit economy.

Dijsselbloem told broadcaster RTLZ in his weekly interview the Netherlands may be able to cut its basic rate of corporation tax in small stages, as the impact of measures to cut tax avoidance begin to take affect. Corporation tax in the Netherlands is currently 25%.

The minister’s statement is noteworthy because the issue is a sensitive one within his own party, the PvdA, RTL said. The party’s manifesto for the 2017 general election makes a point of trying to avoid a ‘race to the bottom’.

According to RTLZ, every cut of a percentage point will cost the treasury €590m.

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