TOPIC: Political Update - Answering Your Questions

DATE: 11 June 2018

Dear all,

We have had several questions from this group asking for some indication / timeline of what will happen in the coming weeks. With this post, I would like to provide you an update – including the key milestones that are ahead of us.

1.     JUNE. We expect that the Belastingdienst will send out a letter (either to recipients or employers) indicating that the Government proposes to shorten the 30% ruling to 5 years as of January 2019. If directed to the employer, it is possible that the employer will share this information directly with you as well. This is a standard operating practice to serve statutory notice and should not create unnecessary panic.

2.     MID-JULY. Following the meeting of the Finance Committee on 31 May, the MPs assembled a list of questions directed to the secretary. The Government is expected to answer these questions by mid-July.

3.     MID-JULY – AUGUST. Summer break.

4.     18 SEPTEMBER – PRINSJESDAG: The Prince holds a joint session of the Senate and House of Representatives to outline government policy and open the coming parliamentary sessions

5.     OCTOBER. The House of Representatives discusses the proposed legislation and, if adopted by a majority, sends it on to the Senate.

6.     NOVEMBER. The Senate accepts or rejects the legislative proposal.

7.     DECEMBER. If voted and adopted by both chambers, legislative proposals become laws. 

Based on the latest developments, we remain convinced that diplomacy will yield the best outcomes. Moreover, it is important to know that - until any law is enacted – there are no grounds for legal proceedings.

Having said that, we understand that many of you have questions about whether it is appropriate to seek advice or external counsel. Our efforts should not replace any actions that may be best for you and your family.  UENL is doing its utmost to voice your concerns, but as every case is unique, UENL recommends that you seek advice from a tax specialist or other external counsel to fully understand your own personal situation.

Finally, we are all in this together. We continuously seek your ideas, suggestions, and feedback. You can direct general information and press leads to Jessica, corporate-specific information to Engelbert, and political/legal information to Massi. All contact information is listed on the ABOUT section of our website.