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Netherlands - Measures to discourage excessive salaries proposed
20/03/2008 @ 07:27
In a press release published by the Ministry of Finance on 14 March 2008, the government indicated that the following measures would be proposed to discourage excessive wages:
– the introduction of a tax of 15% due by the employer on the fixed back service premium paid for a pension built-up under a final pay system on a salary of EUR 500,000 or more. This measure would replace the limitation to a maximum of EUR 185,000 of the fiscal support for pension accrual, which was included in the tax plan 2008;
– the introduction of a tax of 30% due by the employer on excessive severance payments. This would apply to severance payments made to employees whose annual salary is EUR 500,000 or more, in as far as the severance payment exceeds one year's salary; and
– the introduction of a more balanced taxation of the profits of private equity managers. On the basis of the current fiscal practice concerning the taxation of "carried interest", new legislation would be proposed to support this fiscal practice.
Source: IBFD
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