The 2026 Dutch tax plan: Impact on businesses

Introduction

Today, 16 September 2025, the Dutch Ministry of Finance published its 2026 Tax Plan (Belastingplan 2026). Because of the caretaker status of the current government, the Tax Plan contains limited proposals that materially affect businesses operating in or with the Netherlands. Most provisions of the 2026 Tax Plan will enter into force on 1 January 2026 (unless otherwise indicated). In this note, we discuss the topics that we feel are most relevant to the business community, being:

• No changes to the Dutch tax rates
• Adjustment of minimum capital rule for financial institutions
• Certain technical changes in light of Pillar Two
• Again: Changes to tax classification rules for an FGR
• End of CBAM transition period
• Provisions of 2025 Tax Plan, applicable as of 2026

No changes to the Dutch tax rates

No amendments are currently proposed to the Dutch corporate income tax (CIT) rates: The first bracket applies to taxable amounts up to € 200,000 and the rate remains at 19%. Companies will pay the top CIT rate of 25.8% on those taxable amounts over € 200,000.

Adjustment of minimum capital rule for financial institutions

The government proposes a technical adjustment to the minimum capital rule that is a specific interest deduction limitation for banks and insurance companies. Under this rule, interest expenses on debts to group entities were only deductible for banks and insurance companies under specific conditions. This rule was amended in 2024 because it had an undesired effect on the so-called internal liquidity management of banks and insurers. However, the government has determined that the exception for internal liquidity management appears to be too broad. It also (unintentionally) applies to interest that is directly related to loans obtained from individuals (and banks often collect deposits from such individuals).

The government proposes a technical adjustment in line with the objective of the exception for internal liquidity management. As a result, loans that are directly related to loans obtained from individuals also fall outside the exception of internal liquidity management, as a result of which the interest on these loans is included in the interest on such loans in respect of financial years beginning on or after 1 January 2026.

Certain technical changes in light of Pillar Two

As part of the 2026 Tax Plan, two proposals are published dealing with certain technical changes in light of Pillar Two (calling for global minimum taxation for MNEs of 15%):

1. Proposal to amend the 2024 Minimum Tax Act: This legislative proposal incorporates into legislation the administrative guidelines internationally agreed at the OECD Inclusive Framework level in December 2023, June 2024 and January 2025 and also introduces some technical changes.
2. Proposal on the implementation of the EU Directive on the exchange of data on minimum tax: This amendment - also referred to as "DAC9" - allows an MNE to submit an additional tax information declaration at central level and for the entire multinational group. It is based on an EU directive which must be implemented by 1 January 2026.

Again: Changes to tax classification rules for an FGR

Previously, the Netherlands introduced the Act on the Amendment of the Funds for Joint Account and Exempt Investment Institution (Wet aanpassing fonds voor gemene rekening en vrijgestelde beleggingsinstelling) together with new Dutch tax classification rules for non-Dutch entities. Under these new rules, a Dutch fund for joint account (fonds voor gemene rekening; FGR) and its foreign equivalents that were previously treated as transparent for tax purposes (with taxation at the level of the participants) may become non-transparent taxable entities as of 1 January 2025.

The 2026 Tax Plan now introduces a new transitional regime that allows such funds to remain transparent until a new FGR definition is introduced in 2027. In other words, if a fund qualified as transparent up to 31 December 2024, it can continue to be treated as such until the transitional regime expires.

The transitional regime is available if the following three conditions are met:

1. The fund became non-transparent on 1 January 2025 solely as a result of the new rules being applicable
2. On 31 December 2024, the fund was not a non-transparent taxpayer itself but was already treated as transparent for Dutch tax purposes, with income and assets allocated directly to the participants; and

All participants must agree to apply the transitional regime. If the fund already intended to restructure into a transparent redemption fund (inkoopfonds), explicit participant approval is not required. If that intention was not present, all participants must provide their approval no later than 28 February 2026.

End of CBAM transition period

The Carbon Border Adjustment Mechanism (CBAM) is a carbon adjustment on the importation into the EU of designated goods based on the CO2 emissions in the production process outside the EU. CBAM has been gradually introduced (and in force) since 1 October 2023 and a transitional period is still ongoing which will end on 31 December 2025.

For more information on CBAM we refer to our previous tax alert:

As the CBAM legislation is governed by an EU Regulation, it has direct effect and does not require transposition into national law (unlike a Directive). The 2026 Tax Plan seeks to amend various Dutch law to "operationalizes", where necessary, the provisions of the CBAM regulation that will enter into force on 1 January 2026. In short, this operationalization covers two aspects;

1. first, the Dutch Minister of Finance is designated as the administrative authority in the Netherlands responsible for the sale and repurchase of so-called CBAM certificates; and
2. secondly, the legislative proposal prohibits actions that conflict with certain provisions of the CBAM regulation, thereby enabling competent authority to supervise and enforce compliance through administrative law.

Provisions of 2025 Tax Plan, applicable as of 2026

As mentioned, we also want to highlight two provisions that were included in the previous 2025 Tax Plan and that will enter into force only as of 1 January 2026.
Changes in reduced VAT rate scope

Last year's Tax Plan announced that the VAT rate in relation to supplies in the cultural sector (e.g., museums, art, concerts and books) as well as leisure (i.e., sporting events) would increase from 9% to 21% as from 1 January 2026. This has been reversed. The reduced VAT rate of 9% currently applicable to apply to supplies in the cultural sector and leisure continues to apply, with the exception of the supply of short-term accommodation (i.e., hotel, guesthouse, and holiday accommodation business) for which the standard rate of 21% will apply as from 1 January 2026 in accordance with the 2025 Tax Plan.
RETT for corporate investors

Last year's Tax Plan also announced a new real estate transfer tax (RETT) rate of 8% for residential real estate held by investors will enter into force on 1 January 2026. This reduction was intended to attract real estate investors, thereby increasing the necessary investments in housing. This means the following RETT rates will apply from 2026: