• Register
Return to: Home > News > Tax information exchange agreement signed between USA and Netherlands

Tax information exchange agreement signed between USA and Netherlands

The USA government has signed a tax information exchange agreement with the Netherlands for income and taxes paid of multinational companies to be automatically exchanged between the Dutch Tax and Customs Administration and the USA tax authorities.

Under rules issued in 2016, the USA requires entities with revenues of $850m or more in the preceding accounting period to file Form 8975, country-by-country report, with the US tax agency, the Internal Revenue Service (IRS). These rules follow USA reporting requirements and the OECD’s Action Plan on Base Erosion and Profit Shifting (BEPS) to stop multinational companies from shifting profits to low tax jurisdictions.

This agreement with the Netherlands will allow USA multinational companies to file Form 8975 with the IRS if the multinational is resident for tax purposes in the Netherlands or has a permanent establishment there.

The agreement stated that both countries recognise that each jurisdiction has the appropriate safeguards in place regarding confidentiality and use of information, as well as the infrastructure for an effective exchange relationship.

The USA has not signed the OECD’s Multilateral Competent Authority Agreement on the Exchange of Country-by-Country Reports and therefore, must individually negotiate agreements with countries.

Top Content

    Pay me if you can

    CPA Australia’s CEO fall from grace over pay package is only half of the story

    read more

    NOCLAR: Will IESBA new standard have intended ripple effect

    Ahead of the non-compliance with laws and regulations (NOCLAR) standard coming into force in July, IESBA chair Stavros Thomadakis met Vincent Huck at the CReCER conference and shared his view on how the standard will be instrumental in tackling corruption.

    read more

    10 years of CReCER: Accounting for a purpose

    World Bank director of the governance global practice Ed Olowo-Okere speaks to Vincent Huck about the World Bank’s work and role in building a strong accountancy profession globally

    read more

    10 years of CReCER: Politics, Accountants and the fight against corruption

    The Accounting and Accountability for Regional Economic Growth conference (CReCER), an initiative of the World Bank Group, the Inter-American Development Bank, IFAC and the Global Public Policy Committee, celebrated its 10th anniversary in June of this year. Vincent Huck attended the event and took the pulse of the profession in the region.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.