Following a more than a century’s tradition, on September 18, 2018 the regular events due on the so-called Budget day (also known as Prinsjesdag, or “Prince’s Day”), always held on the third Tuesday in September, took place. On this day the government announces its affirmed tax plan for the coming year in the presence of the King of the Netherlands. Following the Speech of the King from the Throne, the parliamentary year is officially declared opened thereafter.

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VAT grouping has a number of advantages: it reduces the costs of administration, just one VAT return has to be filed for the whole group, members of a group do not charge VAT for goods and services supplied to each other and VAT to be paid and to be received can be set-off between the members of the group.

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As we have previously informed you through our newsletter, based on the fourth Anti-Money Laundering Directive (“AMLD4”) all EU Member States have to establish a register containing accurate information on the UBO’s of enterprises and legal entities (“UBO-Register”).

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An article by Maria Govorukhina, Commercial Director at CIS Management B.V., has been recently published on an Israeli web portal YTECHRUNWAY.COM, designed by a team from Yigal Arnon & Co., established nearly sixty years ago, which is one of the largest law firms in Israel with offices in Tel Aviv and Jerusalem.

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On 4 May 2016 the EU has published the General Data Protection Regulation (GDPR). The GDPR will be applicable as from 25 May 2018. Based on the GDPR the same data protection laws will apply in all EU Member States, save for some specific issues that the individual EU Member States may decide on or substantiate themselves.

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This week, the European Council has reached and agreement on the proposal related to increasing transparency in order to take control over aggressive cross-border tax planning structures and generally to take preventive measures in sphere of corporate tax avoidance. The proposal generally reflects action 12 of the OECD's 2013 action plan to prevent tax base erosion and profit shifting.

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Under Dutch tax law an employer who hires foreign employees could grant a tax-free compensation for the so called ‘extraterritorial costs’. The extraterritorial costs include, for example:

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