Netherlands: Memorandum of amendment to 2023 Tax Plan includes “windfall profits tax” on natural gas sales
Overall content had already been announced on Budget Day
“Windfall profits tax” on natural gas sales
The government on 4 October 2022, presented a memorandum of amendment to the 2023 Tax Plan to the Lower House of Parliament. Both the memorandum and its overall content had already been announced on Budget Day. Read TaxNewsFlash
The memorandum of amendment provides details about the:
- Cap on deductible periodic gifts for individual (personal) income tax purposes
- Cancellation of the efficiency margin for the normative salary scheme
- Increase in the fixed exemption percentages under the work-related costs rules
- Temporary 65% “windfall profit tax” on sales of natural gas in 2023 and 2024
Read an October 2022 report prepared by the KPMG member firm in the Netherlands
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