TAX NEWS - January 2010

Netherlands Antilles: Amendments to the Profits Tax Ordinance

Amendments to the Profits Tax Ordinance in the Netherlands Antilles were enacted on 29 December 2009 and are retroactively effective to 1 January 2009.

Amendments include new requirements to qualify for participation exemption benefits; expansion of qualified activities for limited liability companies to become tax exempt (accompanied by stricter rules on foreign dividend income received by tax-exempt companies); and new rules for licensing activities and intergroup financing.