The Netherlands Informs About Information Exchange With Iceland

The Ministry of Finance in the Netherlands published the text of Memorandum of Understanding (MoU) between Iceland and the Netherlands regarding the exchange of information in tax matters. 

Information Content

The MoU was signed by the Netherlands on February 7, 2017 and by Iceland on February 13, 2017. The competent authorities agreed to automatically provide each other with information about:

  • immovable property (OECD code 6); (ownership and value of immovable property in the Netherlands; income from immovable property in Iceland)
  • business profits (OECD code 7);
  • dividends (OECD code 10);
  • interest (OECD code 11);
  • income from independent personal services (OECD code 14);
  • income consisting of salaries, wages and other similar remunerations (OECD codes 15);
  • directors’ fees (OECD code 16);
  • income of artists and sportsmen (OECD code 17);
  • income from pensions, annuities, social security benefits and other similar remunerations (OECD codes 18 and 19);
  • payments to students for education and training (OECD code 20);
  • other income (OECD code 21).

Tax Officials Allowed in Other State

Requests to allow the presence of tax officials of one State at the execution of an examination on the territory of the other State should be made in special cases. It especially concerns:

  • cases in which there are indications for cross-border irregularities or the avoidance of taxes;
  • complex cases that make the presence of the tax officials desirable;
  • cases in which a limitation period threatens to expire and in which the presence of the tax officials may expedite the examination;
  • examinations within the scope of an agreed bilateral or multilateral examination, including simultaneous tax examinations.

Source: Dutch Ministry of Finance

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