Minimum tax on multinationals raises €449m, close to forecast
Multinationals paid €449 m in minimum tax for 2024,. That is close to the €466 m a year that the Netherlands expected when it introduced the levy, but the cabinet expects the yield to fall.
Multinationals paid €449 m in minimum tax for 2024,, the year the Netherlands introduced it, state secretary Eerenberg of Finance said in answers to parliamentary questions. When the tax was introduced, it was expected to bring in about €466 m a year eventually.
About 200 multinationals in the Netherlands have paid so far. The deadline to file and pay was extended to the end of this month because of technical problems at the Belastingdienst, the tax administration, so the total may still rise. Companies can also object, which could lower it. Some objections have already been filed.
The rule applies only to companies with global turnover of €750 m or more. More than 140 countries agreed that a country may top up the tax to 15% if a multinational pays less there.
About €129 m of the total was due because companies paid too little profit tax in the Netherlands itself. Eerenberg said this domestic top-up is "only applicable to a very limited number of taxpayers, and the top-ups are generally limited in size".
The cabinet expects the yield to fall over time, because in some countries the minimum tax only takes effect from 2025 or later.
For 2024 the Netherlands collected €120 m from multinationals with a US parent company. The US has since secured an exception for such groups, which makes it harder for other countries to levy the extra tax on them from 2026. Companies have until the end of May 2027 to pay for 2025.
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Belastingdienst
The Dutch Tax and Customs Administration is the government agency that collects taxes and levies in the Netherlands, including income tax, corporate tax, VAT and customs duties. It handles tax returns, payments and assessments for both individuals and companies, and it also enforces tax rules and processes customs declarations for goods entering or leaving the country. Because it runs nearly all tax filing and payment systems, its deadlines and technical systems directly affect businesses and residents.