Netherlands Announces Profit Tax Mandatory Disclosure Requirement for Large Multinationals

The Dutch Government Feb. 2 announced a mandatory profit tax disclosure requirement for large multinationals based in the Netherlands and multinational companies with significant subsidiaries in the Netherlands, which have worldwide turnover exceeding 750 million euros (US$805.7 million). The announcement specifies that: 1) the profit tax must be included in a separate report, along with a description of the company’s activities and details of the number of employees, revenues, and total profits; 2) the information must be detailed for each member state of the EU and each designated tax haven, while aggregation is permitted for all other countries; 3) the ...