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

As of 1 January 2010, however, the 90% test has been abolished. The
application of the participation exemption regime will be determined
on the general criteria described above, whereby for the purpose of the
asset test, real estate is not considered a free portfolio investment.
18.5 Capital Gains
Capital gains are generally subject to corporate income tax at the
ordinary rate. However, under certain conditions, capital gains
derived on voluntary or involuntary disposition of tangible and certain
intangible capital assets can be deferred by temporarily allocating the
gain to a “reinvestment reserve.” Please note that there is a claw-back
provision in case the reinvestment reserve is not used for the
acquisition of a new asset within a three-year period after the creation
of the reinvestment reserve (please also refer to section 18.9.3
Provisions and tax-free reserves of this chapter).
Capital gains earned when a capital asset is exchanged for another
capital asset with a similar economic function in the business can also
be deferred. Please note that, for assets with a maximum depreciation
period of ten years, it is required that the acquired asset has a similar
economic function within the business as the replaced asset.
Capital gains may even be exempt in the following conditions:
a) Capital gains on the alienation of a qualifying shareholding in
resident or non-resident companies (as referred to in section
18.4 regarding the participation exemption).
b) Capital gains on the transfer of assets (comprising a business
or an independent part thereof) by one corporate taxpayer to
another in exchange for shares (see section 18.12 Mergers and
demergers).
Capital losses need not be deducted from capital gains but may be
deducted in full from business profits.
176 Baker & McKenzie