Tax

The implementation of the trade deal between the European Union and the United States has moved a step closer. Last summer, the European Commission and the US government agreed that the US would apply a general tariff of 15 percent to most European products. Conversely, there will be no increased tariffs and Brussels itself will scrap tariffs. These proposals still need to be ratified but do a general direction of the trade agreement.

Eelco Eerenberg is set to take over as the new State Secretary for Finance with a focus on overhauling the Dutch wealth tax system. The move follows the sudden withdrawal of the previous candidate and comes ahead of the new cabinet's official start on Monday. Investors remain watchful as the proposed reforms move toward the Senate for further debate.

The Dutch tax authority has defended its continued use of algorithms while promising to improve its ethical standards. The organisation recently received the infamous "privacy prize" for its digital practices, leading to a public discussion on how to balance efficiency with legal rights.

The Dutch House of Representatives has passed a major reform to the wealth tax system, with actual asset growth set to be taxed from 2028. The move follows years of legal challenges against the previous method of taxing assumed profits. However, further changes are already being requested to ensure that investors only pay tax when they sell their assets.