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Tax reprieve for Dutch citizens in UK if no-deal Brexit

AFP  |  The Hague 

Tens-of-thousands of Dutch citizens living in Britain will have until the end of the year to get their taxes in order in case of a no-deal Brexit, the Dutch government said Monday.

Britain is set to become a "third country" if it quits the European Union without a deal on March 29, leaving between 100,000 to 150,000 Dutch citizens living there "with a different tax regime," it said in a statement.

Therefore the Dutch government is introducing a transitional scheme for Dutch citizens and businesses, meaning "taxes will be the same as if Britain had not yet left the EU" until the end of the year.

"For many Dutch citizens and companies a no-deal Brexit will bring lots of uncertainty," Dutch Deputy Finance Minister Menno Snel said.

"Therefore I want to give people this transitional period to be able to prepare themselves," Snel added.

Citizens living in Britain but paying taxes in the Netherlands will lose, for instance, the right to tax credits and the right to certain deductible items such as on interest on mortgages.

Dutch living in Britain can this year "avoid getting different tax treatment during the same financial year," the Dutch government said.

Britain is one of the Netherlands' biggest trading partners in the EU, and Dutch officials say a no-deal Brexit would be a disaster for the two closely linked economies.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 05 2019. 00:36 IST
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