THE WHAT? The Netherlands’ Council of State has advised that an ‘Exit Tax’ bill proposed by the Dutch parliament would be ‘irresponsible’, according to a report published by Reuters.
THE DETAILS The Dutch government’s legal advice body published its opinion on the proposed changes to the dividend taxation on Friday.
The levy had threatened to derail Unilever’s plan to simplify its dual-structure and shift its HQ to a single location in the UK. Unilever had estimated that, had the bill been passed, it would face a tax bill of €11 billion.
THE WHY? The Netherlands’ Council of State said that the tabled tax would fall foul of the rule of law and passing such a measure would be ‘irresponsible’, per Reuters.