Minimum Tax Rate Act 2024
On 31 December 2023, the Minimum Tax Rate Act 2024 entered into force. The profits of multinationals and domestic groups with a revenue of at least €750 million will be taxed at a rate of 15%.
The Minimum Tax Rate Act 2024 applies to constituent entities of both multinational groups and domestic groups, with an annual revenue of at least €750 million according to the consolidated financial statements of the ultimate parent entity of the group. Domestic groups are groups of which all entities are located in the Netherlands.
A group that falls within the scope of the Minimum Tax Rate Act 2024 must assess whether the effective tax rate, for each country in which it operates is lower than 15%. If the effective tax rate in a country is lower than the minimum tax rate of 15% a top-up tax is levied.
Top-up tax information return and notification
Constituent entities located in the Netherlands and to which the Minimum Tax Rate Act 2024 applies, must submit a top-up tax information return for each reporting fiscal year, unless the top-up tax information return is filed in another country and we receive it via international exchange of information, in which case the constituent entities have to notify us of the identity of the entity that is filing the top-up tax information return, as well as the jurisdiction in which it is located.
The top-up tax information return or the notification must be submitted no later than 15 months after the last day of the reporting fiscal year. A period of 18 months applies to the first reporting fiscal year.
The forms for the top-up tax information return and the manner of notification are currently under development.
Tax return
A group must submit a tax return if a top-up tax is due in the Netherlands.
The tax return must be submitted no later than 17 months after the last day of the reporting fiscal year. A period of 20 months applies to the first reporting fiscal year.
The form for the tax return is currently under development.
Overview of the filing deadlines
The filing deadlines for a reporting fiscal year that starts on 1 January 2024 are as follows:
| First reporting fiscal year | Filing term for the top-up tax information return or notification obligation (no later than 18 months after the last day of the first reporting fiscal year) | Filing term for the tax return and tax payment (no later than 20 months after the last day of the first reporting fiscal year) |
|---|---|---|
| 1 January 2024 – 31 December 2024 | Deadline 30 June 2026 | Deadline 31 August 2026 |
If you want to find out more about the Minimum Tax Rate Act 2024, please send an email to pijler2@belastingdienst.nl.