Netherlands: Guidance clarifying deductibility of Belgian annual tax on credit institutions
Tax is deductible when allocated to Dutch PE.
The tax administration clarified that the Belgian annual tax on credit institutions (jaarlijkse taks op de kredietinstellingen) is not covered by the deduction exclusion under article 10(1)(f) of the Corporate Income Tax Act 1969.
It concluded that the tax is not levied on a balance sheet total and, therefore, remains deductible when allocated to a Dutch permanent establishment (PE).
For more information, contact a KPMG tax professional in the Netherlands:
Lex van Heijningen | vanheijningen.lex@kpmg.com