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Bank levy: UK/Netherlands DTR

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New regulations (The Bank Levy (Double Taxation Arrangements) (Netherlands) Regulations, SI 2015/344) will come into force on 17 March 2015 to provide for double taxation relief in respect of the Netherlands bank tax paid by groups or entities for which the Netherlands is the home state, against the bank levy charged in the UK. It has effect in relation to periods of account ending on or after 1 January 2011.

Also, The Double Taxation Relief (Bank Levy) (Netherlands) Order, SI 2015/335, will give effect the new UK/Netherlands double taxation convention and protocol on bank taxes, backdated to 1 January 2011.