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Van: (AEP/BELEID)Aan: (AEP/BELEID)Onderwerp: FW: Follow-up email to MS - preliminary views on the Questionnaire on monitoring the implementation of

2000 Guidance on rollback and standstill (Holding Co v. participation exemption) - ddl 10/01/2019Datum: woensdag 29 mei 2019 11:27:27

Van: I I(DB/WINST) Jmiritinni>

Verzonden: dinsdag 18 december 2018 16:55

Aan:[1jnjnhuzaiI>;I I (AFP/EDA)

<infii.nI>

_

CC:[ljniuz ni>; I

_______[cininbuzani>

Onderwerp: RE: Follow-up email to MS - preliminary views on the Questionnaire on monitoring

the implementation of 2000 Guidance on rollback and standstill (Holding Co v. participation

exemption) - ddl 10/01/2019

Ilti IMet vriendelijke groet,

I IBeleidsmedewerker

Directoraat-Generaal voor Fiscale ZakenMinisterie van FinanciënKorte Voorhout 7 I Den Haag IPostbus 20201 I 2500 EE I Den Haag

TE

___________

WWYJiikQYnd1(1RLfl1

Van:I Lmjnt)cza.LiI>Verzonden: dinsdag 18 december 2018 16:54

Aan:I I(DB/WlNST)1minfin.nJ>;I________(AFP/EDA) jinfrtjji>

___________________

CC:[1njniizu;I II_______Onderwerp: [***MOGELIJK SPAM***1 RE: Follow-up email to MS - preliminary views on the

Questionnaire on monitoring the implementation of 2000 Guidance on rollback and standstill

(Holding Co v. participation exemption) - ddl 10/01/2019

11.1

L

From: I I(DB/WlNST)EThnin-fin-i1i>Sent: dinsdag 18 december 2018 16:19

To:

__________________I(AFP/EDA)ImintIrLnJ>;

I I

Cc:I jr)Jipbuza.nl>

Subject: RE: Follow-up email to MS - preliminary views on the Questionnaire on monitoring the

implementation of 2000 Guidance on rollback and standstill (Holding Co v. participation

exemption) - ddl 10/01/2019

Hail

1J.1

Met vriendelijke groet,

I_. IL3eleilsmedewerker

Directoraat-Generaal voor Fiscale ZakenMinisterie van FinanciënKorte Voorhout 7 I Den Haag IPostbus 20201 I 2500 EF I Den Haag

TE

______________________

www. rijksoverheid nI

I IVan:

___________________

(AEP/EDA)

Verzonden: dinsdag 18 december 2018 15:44

Aan:[7@rniniiiza.nl>; tI I(r11in1iflfll>

I I

Van: [@winhdza.nl>

Verzonden: dinsdag 18 december 2018 15:18

Aan:I I(AFP/EDA) j@rninfiri.nl>;I INST) [1rnjn.fInnI>

iminiiza.iij>Onderwerp: FW: Follow-up email to MS - preliminary views on the Uuestionnaire on monitoring

the implementation of 2000 Guidance on rollback and standstill (Holding Co v. participation

exemption) - ddl 10/01/2019

Hoi I I

Zie bijgevoegde mail van de CIE. Ze hadden al aangekondigd dat ze gingen proberen de

antwoorden beter vergelijkbaar te maken. Kunnen jullie nog even checken wat ze bij NL hebben

toegevoegd (van IBFD site gehaald kennelijk).I1 I I

Deadline voor reactie is 10/1. Wellicht kunnen we het deze week nog afronden?

111.1

____________

] (DB/Wl NSI)

CC:I rninbuza.nI>

Onderwerp: RE: Follow-up email to MS - preliminary views on the Questionnaire on monitoring

the implementation of 2000 Guidance on rollback and standstill (Holding Co v. participation

exemption) - ddl 10/01/2019

G to et,

From: I jaec.europa.eu 4 ec. euro pa .eu>

Sent: dinsdag 18 december 2018 15:04

To:I Li JiIobel.fein;

[ci’; i) j. k;I kbrue.auswaertigesdrnt.de;

1 1 .1 ; I tcecebv;

I reper.rI.ç:; i) TInsor.goLlv.tr;

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!1inhf3ncvI.J; Idnfri.jv.h ;I_____________

tL1ni:.gov.n1;

d)reper-portugal.be; I@.Gcu;z.skniri.fi;

fn.o’.uc

Cc:[7iiieioLi; 11@cQnsilium.europa.eu;i)cc’LIro.;

Subject: Follow-up email to MS - preliminary views on the Questionnaire on monitoring the

implementation of 2000 Guidance on rollback and standstill (Holding Co v. participation

exemption) - ddl 10/01/2019

t)ear colleagues,

In the Code of Conduct meeting of 15 November 2018, the replies on the questionnaire onmonitoring the implementation of the COCG Guidance on rollback and standstill werepresented. It was mentioned that — considering the replies to this questionnaire — MemberStates seem to have a different understanding of what constitutes a “Holding CompanyRegime” and of the scope of the Guidance, therefore the answers to the questionnairevaried significantly.

In order to achieve a common understanding and to prepare the way forward, we wouldlike to share with you the attached annex and the following explanations. In the table:for easy reading, we summarised the replies received; and

We completed it with the results of a preliminary research and some general findingsregarding the main effects of the so-called participation exemption provisions in respect ofthe tax treatment applied to capital gains on disposal of shares and to related capital losses(symmetry or lack of).

First, the 2000 Guidance on Holding Company reads as follows:‘18. The fratures that the Grottp took into account when evaluating whether the measuresit assessed in the areas of finance branches, holding companies and headquartercompanies were harmful are:

Holding Companies:(iii,) Exemption offoreign source dividends in circumstances in which the profits givingrise to the dividends: .... [It has been decided that the dividend aspect is not relevant forthe monitoring exercise.](iv Asymmetrical measures where capital gains are exempt hut capital losses are taxdeductihle.

There is no further explanation in the text of what constitutes a holding company in the

sense of the guidance.

Second, the outcome of replies to the questionnaire on Holding Company Regimes

can be summarised as follows:7 MS indicated that they have a specific holding company regime; they provided replies to

the questions on the tax treatment of the capital gains and related capital losses, and br

anti-abuse rules;21 MS indicated that they have no specific holding company regime.

Within this category, one third explained the tax treatment applied within the so-called

participation exemption rules in instances where shares held by a resident company were

disposed of; while two thirds of the MS did not provide any reply to the subsequent

questions.

We can conclude that there was unfortunately no common understanding on the scope of

the questions raised. Some Member States understood that the Guidance is applicable oniy

to specific holding company regimes, while other Member States understood the guidance

as being applicable to participation exemptions (for capital gains and received dividends)

in a more general sense (which would also cover holding companies), while other MS

disregarded the questions entirely as not relevant for their tax rules.

In order to complete the monitoring exercise swiftly and most importantly to avoid

reopening the guidance and discussing the meaning of holding company, the Commission

suggests a pragmatic way forward.

The key issue is whether the measures may — regardless of the legislative technique of

the regimes These measures may be part of a special Holding Company Regime, or such measures may also be part of

the general tax system, or those measures may apply to capital gains and losses in addition to or instead of the special rules

of the Holding Company Regime. — result in an asymmetrical treatment of capital gains and

capital losses from participations exemptions. The Group took a similar approach in the context of the

guidance on criterion 4 where is states under 5.: The measure affairs a deduction for costs or losses that is not symmetrical to the

determination of the taxable earnings:

Therefore, the Commission briefly analysed the answers provided and also gathered some

publicly available information on Member States’ tax systems with regard to the tax

treatment of capital gains and capital losses for holding companies and participation

exemptions.

We kindly ask you to verify the information in the attached annex for your country and

confirm whether it is accurate. If necessary, please briefly clarify and/or correct this

information, preferably in track changes.

We would be grateful to receive your reply by Thursday, 10 January 2019.

The final and overall results could then be discussed in one of the next COCG meetings.

In the meantime, we wish you all restful upcoming Holidays.

Meilleures salutations

Kind regards,

Cu respect,

European CommissionDG Taxation & Customs Union - Direct taxationHarmful tax practices

This message is intended for the use of the addressee only and may contain information that is privileged andconfidential. If you are not the intended recipient, you are notified that any dissemination of this communicationis strictly prohibited. If you have received this communication in error, please not[y us immediately by return ofthis e-mail. This communication does not constitute any formal commitment on behalf of the EuropeanCommission.

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