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  • ARTICLE - UAE, Netherlands

    Yer name’s not down – UAE is off Dutch Tax Blacklist

    09 Feb

    UAE is off the Dutch Blacklist - Introduction

    The Netherlands' recent update to its list of low-taxed and non-cooperative jurisdictions for 2024 has notably excluded the United Arab Emirates (UAE), marking a shift in tax policy. This change follows the UAE's introduction of a federal Corporate Income Tax (CIT) regime, setting a standard tax rate of 9% for financial years beginning on or after 1 June 2023.

    The Blacklist

    Of course, this blacklist has nothing to do with Raymond Reddington. Instead, the Dutch tax blacklist is a list of jurisdictions that facilitate abusive tax structures through minimal or non-existent taxation rates, defined as less than 9%. The presence on this list subjected entities in blacklisted jurisdictions to stringent domestic anti-abuse measures in the Netherlands. These included conditional withholding taxes on cross-border payments and limitations on obtaining tax rulings for transactions involving blacklisted jurisdictions, alongside the application of Controlled Foreign Corporation (CFC) rules that impacted the taxable income of Dutch entities.

    Back from black

    The removal of the UAE from this blacklist alleviates several challenges for UAE-based businesses operating in the Netherlands. Previously, the anti-abuse measures introduced a layer of complexity and uncertainty for transactions between the two nations. Now, the reclassification signals a positive development, potentially enhancing economic connections and fostering a more favorable environment for cross-border investments and collaborations. The UAE's proactive adjustment of its tax regime to introduce a CIT rate aligns with global tax standards and demonstrates a commitment to fostering a transparent and cooperative financial landscape. This adjustment has directly influenced its standing with the Netherlands, removing barriers that once complicated financial and corporate engagements.

    UAE is off the Dutch Blacklist - Conclusion

    For businesses within the UAE with Dutch interests, this development opens doors to new opportunities and simplifies operations, heralding a phase of strengthened economic ties between the UAE and the Netherlands. This move is anticipated to encourage a smoother flow of trade, investment, and financial services between the two countries, reinforcing their positions in the global market.

    Final thoughts

    If you have any queries about this article on the UAE being off the Dutch Blacklist, or UAE matters more generally, then please get in touch.

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