Netherlands: Tax plan addresses global minimum tax challenges for 2024

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The Dutch tax plan presented to Parliament aims to address potential tax revenue uncertainties arising from the global minimum tax scheduled to commence in 2024. To counter this, the plan entails reducing the profit exemption for small and medium-sized enterprises (SMEs) from 14% to 12.7% and increasing excise duties on cigarettes and rolling tobacco.


Additionally, it includes the removal of specific provisions from the Dutch tax code, such as elements of the motor vehicle tax and the reduced VAT rate applicable to agricultural goods. Furthermore, the plan incorporates significant environmental tax measures, including an increase in the carbon price for the electricity sector to 51.7 euros per ton starting next year. These proposed changes will undergo deliberation in both the House of Representatives and the Senate in the upcoming weeks and are slated to become effective as of January 1, 2024.



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