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V. Net income in the form of periodic payments

There are two categories of periodic payments, those which are classed as income from capital, and those which qualify as a separate source of income.

Periodic payments forming a separate source of income can be divided into different categories. Examples are:

• payments from the state, such as certain public scholarships and government subsidies;

• periodic payments under family law, such as maintenance payments, unless received from relatives once or twice removed;

• other periodic payments, claimable in court, unless received from close relatives, foster parents or members of the same household, such as maintenance payments to a former partner.

4.2.4. Non-source-related deductions

In certain circumstances payments which are not related to the acquisition of income may be deducted from the total gross income. These non-source-related expenses can be divided into three categories, which are personal obligations (special expenses), exceptional expenses and tax-deductible donations.

I. Personal obligations

The most important expenses which may be regarded as personal obligations are the following:

• premiums for several forms of life annuity payments, such as (temporary) disablement, old age and widows' annuities up to NLG 6.179 or, in certain circumstances, up to NLG 12,358 in the case of (married) couples. If certain conditions are met then this amount can be increased to NLG 86,480, if the provisions for the old age pension are inadequate in relation to current income.

• certain maintenance payments or lump-sum payments which replace these;

• interest on debts. Since 1997, the deduction of interest on debt is restricted. Insofar interest paid is not connected with a source of income, a maximum amount of NLG 5,291 is deductible. For married taxpayers, this amount is doubled. Certain exemptions are applicable.

• losses on specific loans. Under certain conditions a loss on a subordinated loan granted to a starting entrepeneur can be deducted up to a maximum of NLG 50,000.

II. Exceptional expenses

Resident taxpayers may deduct certain exceptional expenses from their total gross income. There are a number of categories of exceptional expenses, each of which has its own specific non-deductible component based on the taxpayers' gross income. For married couples the non-deductible component is calculated on the basis of their joint income.

The following categories can be distinguished:

• medical expenses and expenses related to disability and old age are tax-deductible when they exceed a certain percentage of the joint gross income, subject to specified upper and lower limits;

• expenses involved in the maintenance of children younger than 27 years of age;

• expenses involved in the support of certain relatives;

• expenses which are made in connection with study or training for a profession. Studies as a hobby do not qualify;

• expenses involved in child care, subject to certain conditions.

III. Tax-deductible donations

Donations to domestic religious, charitable, cultural and academic institutions or other bodies serving the public good in excess of 1% of the gross income may be deducted by resident taxpayers, with a lower limit of NLG 120. Donations in excess of 10% of the gross income are not tax-deductible. Provided certain conditions are met this restriction does not apply to donations in the form of annuities. Contributions to foreign institutions of the kinds indicated above may also qualify, if the institutions have been designated as such by the Ministry of Finance.

4.3. Employee savings and profit-sharing schemes

Employers and employees may agree to set up employee savings schemes in which a certain maximum amount of the salary is exempt from tax and social security contributions. Employers in the private sector can set up profit-sharing schemes to provide a tax advantage for both employers and employees.

4.3.1. Employee savings schemes

Since January 1994 new rules apply which exempt employers from paying tax and social security contributions on each employee's salary to a maximum of NLG 2,894. This is applicable to salaries based on:

• premium savings schemes, or

• salary savings schemes (including blocked profit-sharing schemes and share option schemes in the private sector).

In premium savings schemes the employer withholds an agreed amount from the employee's net salary and deposits this in a premium savings account. The employer can then award the employee a savings premium of up to 100% of the amount withheld, to a maximum of NLG 1,158. Under certain conditions no tax and social security contributions need to be paid on this savings premium.

In salary savings schemes the employer withholds an agreed amount not exceeding NLG 1,736 of the employee's gross salary and deposits this in a savings account blocked for at least four years. When the sum is paid out it is not liable to tax or social security contributions.
However, the employer is required to pay 10% salaries tax on the exempted amount.

4.3.2. Profit-sharing schemes

Employers in the private sector can give their employees a share in the (fiscal or commercial) profits of the business or of one or more businesses associated with the business. If the profit payment is blocked in a salary savings account then the rules for salary savings schemes are applicable (the maximum amount on which tax or social security contributions are not due is NLG 1,736). However, in this case the employer does not need to pay 10% salaries tax on the exempted amount.

If the profit payment is not blocked, but is paid directly in cash or documents of value then the employer pays 10% salaries tax on a maximum amount of NLG 1,736. This amount is not liable for social security contributions. Any salary savings received must be deducted from this amount. If a profit payment minus salary savings exceeds NLG 1,736 then the normal rate of tax and social security contributions must be paid over the difference.

4.4. Foreign employees: the 35% rule

A special allowance is granted to certain foreign employees who are assigned to a post with a domestic employer (i.e. an employer established in the Netherlands, or an employer not established in the Netherlands who is obliged to withhold salaries tax on the salary paid to the employee).

If certain requirements are met, then Dutch employers may grant a special tax-exempt allowance of 35%, which is paid in addition to employees' salaries. The allowance is calculated on the basis of the salary as determined in accordance with the provisions of the Wage Tax Act. To obtain the basis for calculating the 35% allowance the salary is multiplied by a factor of 100/65. Employer reimbursements of school fees for the attendance of children at international primary or secondary schools are also exempt from tax. In addition to the 35% rule, expenses incurred in connection with employment are reimbursed tax free.

Foreign employees have to be recruited by or seconded to a domestic employer in the Netherlands. The employer and his employee must first agree, in writing, that the 35% allowance will be applied. Their joint request for the application of this allowance must then be submitted to the Private Individuals Tax Unit (Non-resident Taxpayers) in Heerlen. Once the application has been approved the 35% allowance is applied from the outset. The 35% allowance is applicable for a maximum period of 120 months. This period is reduced by any period of employment with a domestic employer in the Netherlands, or by any time previously spent by the employee in the Netherlands, unless more than ten years have elapsed since the end of such employment, or time spent in the Netherlands.
On the joint request of the domestic employer and the foreign employee the foreign employee, with a few exceptions, is regarded as a fictitious foreign taxpayer with regard to the levy of salaries tax, income tax, and wealth tax.

5. Налог на богатство(Wealth Tax)

5.1. Taxpayers: residents and non-residents

Under the present Wealth Tax Act resident natural persons (resident taxpayers) and non-resident natural persons owning property in the Netherlands (non-resident taxpayers) are subject to wealth tax if their net wealth exceeds a certain amount. The rules for the determination of the place of residence as laid down for income tax purposes are also applicable to wealth tax.

Resident taxpayers

The wealth tax is levied on the total net wealth, which is defined as the value of the assets less any liabilities. The tax is levied at the beginning of the calendar year. Assets and debts are taken into consideration at their market value. Although both husband and wife are liable for taxation the assets of both are added together. A child's assets are taxed under the child's name.

Non-resident taxpayers

Non-residents are liable for wealth tax only if they own certain assets in the Netherlands at the beginning of the calendar year. (In this case the net wealth is defined as the value of the assets less any liabilities in the Netherlands).

Assets in the Netherlands are:

• assets belonging to a Netherlands permanent establishment and participations (other than through shares) in a domestic business. An example is the participation of a limited partner in a Netherlands limited partnership.

• the following assets not belonging to a permanent establishment in the Netherlands:

• immovable property (including immovable rights) within the Netherlands;

• profit sharing rights based on the net profits (not the turnover) of a company managed in the Netherlands, excepting profit sharing bonds, etc., and bonus rights of employees.

Debts in the Netherlands are:

• debts of a permanent establishment in the Netherlands;

• debts secured by a mortgage on immovable property situated in the Netherlands.

Married non-resident taxpayers are required to state their personal net assets only; a married person's net assets are not added to those of his or her spouse.

5.2. Tax base and rates

5.2.1. Exemptions

The legal usufruct together with rights and obligations involving regular payments directly arising from family law, and payments attributed by parents to their minor children are not taken into account for the purposes of the wealth tax.

The following items are exempted from wealth tax for both resident and non-resident taxpayers:

• a part of the business assets of the taxpayer, which is:

• 100% when the assets of the business do not exceed NLG 219,000 (1999: NLG 216,000);

• 68% of the assets in excess of NLG 219,000 plus the exemption of NLG 219,000 if the assets of the business exceed NLG 219,000 (1999: 68% of the assets in excess of NLG 216,000 plus the exemption of NLG 216,000 if the assets of the business exceed NLG 216,000).

• This exemption also applies to:

• amounts payable by the person to whom the taxpayer has transferred the ownership of his business;

• the assets of a business which is to be converted into a limited liability company;

• the value of "substantial interest" shares in a limited liability company established in the Netherlands;

• specific subordinated loans granted to a starting entrepeneur.

• Examples of other special exemptions:

• entitlements ensuing from a pension scheme;

• payments ensuing from life annuities that have not yet commenced; annuities that have already commenced are also exempted to a certain sum;

• entitlements and benefits with regard to sickness, disability or accidents, accruing to those concerned or the surviving spouse or minors;

• personal belongings such as items of artistic or scientific value, clothes, food, gold and silver, pearls and precious stones to a total value of NLG 8,500.

5.2.2. Tax rates

The rate is NLG 7 for every NLG 1,000 of net assets (0.7%). There are two categories, which are:

• tax class I: single taxpayers;

• tax class II: married taxpayers.

The taxable amount for resident taxpayers is the total net wealth less the personal allowance. The taxable amount for non-resident taxpayers is the total domestic net wealth without the deduction of a personal allowance.

The personal allowances for resident taxpayers in 2000 are:

• tax class I : NLG 200,000

• tax class II : NLG 250,000

5.2.3. Special allowances

The following amounts may be added to the above allowances:

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