Study costs are expenses made for education to obtain a (better) position on the labour market or to maintain current work-related knowledge. The following costs can be deductible: application fee, enrolment fee, books and other literature and costs of exams. Costs of a language course can be deductible but only under certain strict conditions. Study costs have to be a financial burden to the person following the studies, meaning the fees may not be paid through a gift and/or scholarship(s). Continue reading “TAX DEDUCTIBLE STUDY EXPENSES 2017 / 2018”

Alternatives for Dutch equity taxation – Box 3

Future of box 3 (tax on deemed income from equity)
From the 1st of January 2017 the Dutch equity tax of the so called box 3 changes. In effect, the tax burden on higher amounts of net wealth will be increased while the tax burden on lower amounts of net wealth will be decreased. The tax free amount will be € 25,000 per person.

Then, on the first € 100,000 of net wealth a deemed return on investment of 2.87% will apply. This percentage is said to be based on the average interest rates of the last five years. For the next € 900,000 the deemed return is 4.6% and for amounts of net wealth above 1,000,000 the deemed return on investment is 5.39%.

This system is advantageous for those who achieve a relatively high return, but at the same time it’s really unfavorable if the actual return is low.

How to avoid box 3-taxation?
It is possible to avoid this box 3 taxation. Continue reading “Alternatives for Dutch equity taxation – Box 3”

Decree tax exemption box 3 income (income from equity) for non qualifying foreign tax residents

The Dutch Supreme Court gave its judgement in the cases J.B.G.T. Miljoen (ECLI:NL:HR:2016:362) and Société Générale S.A. (ECLI:NL:2016:361), after some preliminary questions to the European court of justice about portfolio shares. The Dutch State Secretary of Finance decided to change the appliance of Dutch law according to the Supreme Court’s judgement. Continue reading “Decree tax exemption box 3 income (income from equity) for non qualifying foreign tax residents”

Besluit heffingvrij vermogen box 3 voor buitenlands belastingplichtigen

Naar aanleiding van prejudiciële vragen van de Hoge Raad aan het Hof van Justitie van de Europese Unie heeft de Hoge Raad uitspraak gedaan in de zaken J.B.G.T. Miljoen (ECLI:NL:HR:2016:362) en Société Générale S.A. (ECLI:NL:2016:361). De staatssecretaris van financiën heeft besloten de wetgeving anders toe te passen in het licht van deze uitspraken. Continue reading “Besluit heffingvrij vermogen box 3 voor buitenlands belastingplichtigen”

Dutch income tax deduction of interest on family loan to purchase and/or renovate own house in the Netherlands

If you are planning to enter into, or have already entered into, a loan provided by family and/or friends – or in short all parties other than banks – to purchase and/or renovate an own house, you should take into account the following. Continue reading “Dutch income tax deduction of interest on family loan to purchase and/or renovate own house in the Netherlands”

Non domiciliation and tax exempt salary split United Kingdom – The Netherlands

Under the United Kingdom (UK) tax laws a difference in fiscal treatment of individuals is made between being domiciled and non domiciled. In short domicileds are residents who have their roots in the UK, or have chosen to become domiciled. Non domicileds are e.g. expats with temporary stays or with permanent stay without the aim to become domiciled. Continue reading “Non domiciliation and tax exempt salary split United Kingdom – The Netherlands”

Repentance (foreign) income and assets / inkeerregeling

As a tax resident of the Netherlands you are taxable for your worlwide earned income as well as all worldwide held assets. Especially expats are not aware of the fact that there is a tax liability for assets held outside the Netherlands. Expats with a pending 30% ruling will benefit from a limited scope for taxation of their passive assets. Continue reading “Repentance (foreign) income and assets / inkeerregeling”

Waardering onroerend goed in box 3 en de leegwaarderatio

Waarde van verhuurde woningen voor de inkomstenbelasting vanaf 2010
Vanaf belastingjaar 2010 moet al het onroerend goed dat onder box 3 valt, gewaardeerd worden op de WOZ-waarde. Om rekening te houden met het feit dat verhuur de waarde van een woning drukt, is er voor verhuurd onroerend goed dat valt onder huurbeschermingsregels per 2010 een waarderingstabel opgenomen in de wet inkomstenbelasting. In het jaar 2014 heeft het Gerechtshof bepaalt dat in hele specifieke situaties de leegwaarderatio niet toegepast hoeft te worden, maar ten dele uitgegaan kan worden van de werkelijke waarde. De Hoge Raad heeft deze uitspraak in 2015 bevestigd, zie verder in onderstaand de bestreden stapeling van forfaits. Continue reading “Waardering onroerend goed in box 3 en de leegwaarderatio”

Study expenses – Don’t forget to deduct and obtain a tax benefit!

Dutch tax law offers an interesting benefit for students. College fees and costs for study literature are deductible in the year these costs have been made. There is a threshold (depending in which year the study costs were made) which varies between EUR 250 and EUR 500. Costs in excess of this threshold are deductible either without a maximum or with a maximum of EUR 15,000 per year. Continue reading “Study expenses – Don’t forget to deduct and obtain a tax benefit!”

“I am not a tourist fair” 2014

Newcomers who are still finding their feet, will have the chance to learn about setting up a bank account, doing their taxes, and finding a school or university. Both newcomers and veteran expats can enjoy these resources along with entertainment and a wealth of information on cultural pursuits for internationals who want to dive into Dutch culture and enjoy the differences! Discover yummy Dutch food and beverages (yes, they do exist!), entertainment and networking opportunities. Okx van Leeuwen Tax Lawyers will be present and we hope to see you there! Join us on Sunday, 2 November 2014 at the Beurs van Berlage in Amsterdam. We will offer a special Fair discount on all our services for those who attend and leave their emailaddress. Continue reading ““I am not a tourist fair” 2014″