Dutch letterbox companies out of favour with tax advisors: FD

[edward222]

Credit to: Latest Offshore News : http://www.offshorenewsflash.com/201...x-advisors-fd/

Until recently, jobs and tax income were the main justifications for maintaining the letterbox system, the FD points out. But now, the paper concludes, consultants are realising these constructions have no future.

A report by economic institute SEO in 2013 said that €278bn flows through shell companies based in the Netherlands every year. This stems from the tax break on participations, relatively low tax on interest and royalties and the wide tax treaty network with other countries.

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