Doing Business in the Netherlands 2012 - American Chamber of ...

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17.7 Income Tax Rates 17.7.1 General Tax Credit The general tax credit is not specifically related to one of the boxes and is set off against the combined amount of tax due in respect of Boxes I, II and III income. Some specific expenses that are not related to one of the boxes, e.g., some personal obligations or exceptional expenses, are deducted by means of a reduction on Boxes I, II, or III income. The general tax credit is EUR2,033 (2012) for individuals up to the age of 65. Starting 1 January 2009, the legislator has introduced a tax credit (doorwerkbonus) particularly to stimulate older people to continue with their employment activities. The amount of the tax credit depends on the age of the employee and the level of his or her income. For each age between 62 and 67 years, a different percentage is applied. The basis of the credit is the taxable income ranging from EUR9,209 to EUR47,071. Tax credit for older individuals (doorwerkbonus) Age 62 63 64 65 66 67 and older Percentage (%) 1.5 6 8.5 2 2 1 Maximum credit 568 2,272 3,218 757 757 379 Personal Income Tax Rates The following tax and national insurance rates will apply in 2012 for individuals up to the age of 65 and residing in the Netherlands. The rate in the first bracket (%) consists of 1.95% for income tax and 31.15% for national insurance contributions. The rate in the second bracket (41.95%) consists of 10.80% for income tax and 31.15% for national insurance contributions. The rates in the third and fourth brackets consist only of income tax. 158 Baker & McKenzie
Doing Business in the Netherlands 2012 Tax and premium rate Taxable income 33.10% up to EUR18,945 41.95% EUR18,945 up to EUR33,863 42% EUR33,863 up to EUR56,491 52% in excess of EUR56,491 The following tax and national insurance rates will apply in 2011 for individuals aged 65 years or older and residing in the Netherlands. The rate in the first bracket (15.20%) consists of 1.95% for income tax and 13.25% for social security contributions. The rate in the second bracket (24.05%) consists of 10.80% for income tax and 13.25% for social security contributions. The rates in the third and fourth brackets consist only of income tax. Tax and premium rate Taxable income 15.20% up to EUR18,945 24.05% EUR18,945 up to EUR34,055 42% EUR34,055 up to EUR56,491 52% in excess of EUR56,491 17.7.2 Special Rates There are no special tax rates in the Personal Income Tax Act. 17.8 Substantial Interest Generally, an individual has a substantial interest if he or she, alone or together with his or her partner (spouse or registered partner), directly or indirectly: � owns 5% or more of the nominal paid-in capital of a company; � has the right to acquire 5% or more of the nominal paid-in capital of a company; and/or Baker & McKenzie 159
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Editorial Contributions Robert van
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Innovative ways to inform you Doing
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1 The Netherlands Doing Business in
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Steady-Course Policy Doing Business
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2 Legal Forms of Doing Business Doi
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2.3 Branch versus Subsidiary Doing
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4 The Subsidiary 4.1 Incorporation
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8 Commercial Contracts 8.1 General
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9 Real Estate 9.1 Ownership Doing B
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9.7 Leases Doing Business in the Ne
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10.5 The European Economic Area Doi
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12 Telecommunications 12.1 Market S
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19.1.6 Rates Doing Business in the
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19.3 Dividend Withholding Tax Doing
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21 Investment Incentives Doing Busi
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22 Financial Regulations 22.1 Excha
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23.3.3 Product Liability Doing Busi
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24.13 Arbitration Doing Business in
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Tax Corporate & International Tax H
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