Netherlands Presents an Amended Budget for 2014 Update from Nair & Co. Tax Team (Bristol, UK) - The Dutch government has presented an amended budget to the parliament altering important provisions regarding tax rates, tax credits and payroll taxes. The key highlights are as follows: ď‚§
Individual Tax rates: The first bracket tax rate will be lowered; in addition, taxes on income from substantial shareholdings may be reduced from 25% to 22%.
Tax credits: Cancellation of the phasing out of the general levy rebate for income falling under the top bracket; certain other provisions including the working bonus, a credit given to taxpayers between the ages of 60-63 who receive income from employment or business-related activities, will be removed. Payroll taxes: A reduction in employer contributions for unemployment insurance and to the disability fund.
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The Dutch government has presented an amended budget to the parliament altering important provisions regarding tax rates, tax credits and pa...