Euro News Source
No Result
View All Result
Monday, June 27, 2022
  • Login
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
Subscribe
Euro News Source
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videosnew
No Result
View All Result
Euro News Source
No Result
View All Result
Home News Netherlands

30% ruling to be capped, corporate and asset taxes increased

by Francesco Mazzagatti
May 21, 2022
in Netherlands
A A
0
153
SHARES
1.9k
VIEWS
FacebookTwitterLinkedin

Finance minister Sigrid Kaag talks to reporters ahead of the cabinet meeting. Photo: Sem van der Wal ANP

The government has decided to cap rather than scrap the 30% ruling which some people who move to the Netherlands to work are able to benefit from.

The cut is one of a package of measures the government introduced in Friday’s spring statement and will help pay for higher spending on defence, the state pension and compensation for savers.

The 30% ruling, which gives claimants the right to 30% of their salary tax free, will now only apply to a maximum of €216,000 in gross income, so that people earning more will pay the full tax rate of 49.5% on the excess.

The figure of €216,000 is the so-called Balkende norm, named after the former prime minister Jan Peter Balkenende, who brought in a maximum ceiling for public sector pay which is in line with the prime minister’s remuneration.

Nothing will change for international workers earning less and the wage cap will be phased in over three years.

Defence

As leaked earlier, the government has also agreed to increase defence spending to 2% of GDP, which will cost €2.2 billion a year.

The minimum wage will rise an additional 2.5% in 2023, rather than 2024, as will the state pension. The pension increase will be partly paid for by cutting the extra tax breaks for more wealthy pensioners with corporate pensions.

‘The strongest shoulders will have to carry more,’ finance minister Sigrid Kaag said.

A further €3.6 billion will go to compensate savers who paid too much tax on their savings, following a lengthy court case.

Corporate taxes

Companies and wealthy individuals will pay for the bulk of the extra spending. Companies will have to pay the higher corporate tax rate of 25.8% on profits of over €200,000, rather than €400,000 as planned, raising €1.3 billion.

Individuals will pay more tax on their assets, and the increase in the tax free asset allowance (currently €50,650) will not go ahead. People with income in ‘box 2’ will also pay more tax: 26% on income up to €67,000 and 29.5% on the rest.

The transfer tax payable on properties bought as an investment will rise to 10.1%.

Investment in new government funds, designed to boost innovation, tackle climate change and nitrogen-based pollution will also be slashed by a combined €2.2 billion. The government will work ‘more cleverly and more efficiently,’ Christianne van der Wal, the minister charged with tackling pollution, said.

Opposition

The cabinet needs the backing of the opposition to get more controversial measures through the senate, where it only controls 32 seats, six short of a majority.

So far, the reaction of opposition parties has been mixed. GroenLinks leader Jesse Klaver said the spring statement missed a sense of urgency. The PvdA said despite the increase in the minimum wage and pensions, not enough is being done to help low income households deal with soaring inflation.

JA21 has criticized the tax increases, saying the coalition has ‘veered to the left’. All three parties could help the government to a majority in the upper house of parliament.

Employers too are angry that they will have to pick up most of the bill in the form of higher taxes, the Financieele Dagblad reported.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to,
you can do so via Ideal, credit card or Paypal.

Source: Dutch News

Related Posts

Netherlands

Dutch ministers condemn Roe v Wade decision, say safe abortion is a right

June 25, 2022
Netherlands

Banning tourists from cannabis cafes will cut back on crime: Halsema

June 25, 2022
Netherlands

Judge rules Gorillas dark store is not a ‘retail outlet’ and must close

June 25, 2022
Netherlands

Schiphol to offer fewer flights from 2023 as ministers get tough on noise, pollution

June 25, 2022
Netherlands

We are the worst in Europe, minister tells MPs during nitrogen debate

June 24, 2022
Netherlands

Street wardens to get truncheons and handcuffs, minister confirms

June 24, 2022
  • Trending
  • Comments
  • Latest

Woman livestreams fatal stabbing of half-sister

October 25, 2021

Prison sentences for protestors who pray outside abortion clinics in Spain

February 4, 2022

Investigation opened into porn video recorded on altar of Flemish church

November 3, 2021

Irish couple, 23 and 26, ‘carry out vicious knife attack in Sydney’

October 14, 2021
Freedom Day

Freedom Day

0
Fire Accident

Fire Accident In Iraq

0
Scotland

Advice from the Scotland Prime Minister

0
Brexiteers

Brexiteers Should Thank The EU

0

NHS: Patients questioned to journey for hospital remedy in NHS ‘final push’ to ‘eliminate two-year waiters’

June 27, 2022

Justice Secretary Dominic Raab claims felony barrister strikes are ‘regrettable’ as 1st walkout commences

June 27, 2022

‘Taking innocence from children’: Two-thirds of youngsters uncovered to damaging on the net articles – but only 16% report it

June 27, 2022

Bono reveals he has secret half-brother he only found out about as an adult

June 27, 2022

Recent Posts

NHS: Patients questioned to journey for hospital remedy in NHS ‘final push’ to ‘eliminate two-year waiters’

June 27, 2022

Justice Secretary Dominic Raab claims felony barrister strikes are ‘regrettable’ as 1st walkout commences

June 27, 2022

‘Taking innocence from children’: Two-thirds of youngsters uncovered to damaging on the net articles – but only 16% report it

June 27, 2022

Bono reveals he has secret half-brother he only found out about as an adult

June 27, 2022

Manchester United reject Barcelona’s endeavor for a Harry Maguire-Frenkie de Jong swap offer – Paper Spherical

June 26, 2022

Paris 2024 Olympics chief Tony Estanguet states he desires his city’s party to ‘make individuals dream’

June 26, 2022

Recent Posts

  • NHS: Patients questioned to journey for hospital remedy in NHS ‘final push’ to ‘eliminate two-year waiters’
  • Justice Secretary Dominic Raab claims felony barrister strikes are ‘regrettable’ as 1st walkout commences
  • ‘Taking innocence from children’: Two-thirds of youngsters uncovered to damaging on the net articles – but only 16% report it
  • Bono reveals he has secret half-brother he only found out about as an adult
  • Manchester United reject Barcelona’s endeavor for a Harry Maguire-Frenkie de Jong swap offer – Paper Spherical

Categories

  • Austria
  • Bahamas
  • Belarus
  • Belgium
  • Breaking News
  • Brexiteers
  • Business
  • China
  • COVID Cases
  • Covid-19
  • Cyber security
  • Debt
  • Economics
  • Energy
  • England
  • Fashion
  • Fire Accident
  • France
  • Freedom Day
  • Germany
  • Health
  • Human Launch
  • Humanitarian
  • Ireland
  • Italy
  • Netherlands
  • News
  • Norway
  • Opinion
  • Politics
  • Refugees
  • Russia
  • Russia
  • Rwanda
  • Saudi Arabia
  • Science
  • Scotland
  • Scotland
  • Spain
  • Spanish-Flu
  • Sports
  • Switzerland
  • Travel
  • Ukraine
  • United Kingdom
  • Videos
  • Wales
  • Zambia

Site Navigation

  • About
  • Advertise
  • Guest Post
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
Euro News Source

Euro News Source is one of the best sources of European News. We provide the latest news from the European Union and its member states, local and international political, economic and sports news. Follow us to receive all news from around the European Union.

© 2021 Euro News Source.

No Result
View All Result
  • Home
  • Latest News
    • All Europe
    • United Kingdom
      • England
      • Ireland
      • Scotland
      • Wales
    • France
    • Germany
    • Italy
    • Spain
    • Austria
    • Belgium
    • Netherlands
    • Switzerland
  • Economics
  • Politics
  • Health
  • Sports
  • Videos

© 2021 Euro News Source.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?