The Lower House in the Netherlands approved a new arrangement for the avoidance of double taxation between the Netherlands—including its Caribbean territories—and Curaçao.
The arrangement—Belastingregeling tussen Nederland en Curaçao or “BRNC”—includes changes in relation to the Tax Arrangement for the Kingdom of the Netherlands (Belastingregeling voor het Koninkrijk—“BRK”), with transitional rules applicable for some elements.
The new tax arrangement must now be approved by the Upper House. The BRNC is intended to govern the relationship between both countries as of 1 January 2016, thereby replacing the BRK. This will require the Upper House to give its approval on time so that the BRNC can be published in the Bulletin of Acts and Decrees (Staatsblad) before 1 November 2015.
Read a September 2015 report prepared by the KPMG member firm in the Netherlands: Lower House approves new tax arrangement between the Netherlands and Curaçao
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