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Trade disputes lead Dutch central bank to revise down growth forecasts

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The pace of economic growth in the Netherlands is set to slow down slightly and is now projected to reach 1.6% in 2019 and 1.5% next year, the Dutch central bank said on Tuesday in its new half-yearly forecast. Last December the bank put growth at 1.7% this year and in 2020, down from earlier forecasts of 2.2% and 1.9%. ... Read More »

Over a dozen guns seized after tipster calls police for help

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Police dispatched to the scene of a home on Troelstrastraat in Rotterdam found over a dozen guns, some cash, and also a small quantity of drugs and drug paraphernalia. A call to emergency services requesting assistance at the house brought authorities to the scene, and two men took off running when the officers were spotted. One of the two, a ... Read More »

‘Mexican drug cartels pushing crystal meth in Nl, western Europe’

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The police are finding an increasing number of crystal meth labs in the Netherlands. Mexican drug cartels are trying to push the highly-addictive and dangerous drug in Western Europe. So far, crystal meth is not very popular in the Netherlands. “The use and trade of crystal meth in the Netherlands is marginal”, police spokesperson Robbert Salome said to AD. But ... Read More »

Shell Nederland admits paying no tax on profits, due to Dutch system

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Anglo Dutch Oil and gas giant Shell has admitted paying no tax on profits earned in the Netherlands in an interview with current affairs magazine Elsevier. In the interview, Shell Nederland president Marjan van Loon and Alan McLean, the multinational’s executive vice-president taxation, say that even though Shell Nederland makes a profit – €1.3bn in 2017 – the company is ... Read More »

Dutch Chamber Seminar: challenges for migrant entrepreneurs in Sweden

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Since 1999, more than 1 million immigrants from various countries and with different backgrounds have arrived in Sweden. Economic integration is one of the most important pathways for immigrant integration and inclusion into society. Starting your own business could be a starting point to build your life in Sweden. But what are the opportunities and obstacles for migrant entrepreneurs in ... Read More »

Shell admits to not paying profit tax in Netherlands

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Shell paid no taxes on the billions of euros in profit it made in the Netherlands over the past years, Marjan van Loon, director of Shell Netherlands, admitted to magazine Elsevier. As Shell’s global headquarters are located in the Netherlands, the company can deduct the costs of that office from the profit made by Shell’s Dutch branch. The Shell branch ... Read More »

Dutch trucker arrested in Britain for drug trafficking

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A 40-year-old Dutch man was arrested in Great Britain last week after 35 kilograms of cocaine was found in his truck. The trucker was arrested in North Lincolnshire on Thursday after he and his truck arrived at the Hull port by ferry, RTL Nieuws reports. The drugs were hidden in the truck’s back doors. According to the local authorities, the ... Read More »

Taxpayers are funding expensive drug development, report says

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The Dutch government invests tens of millions of euros every year in small biotech companies which are developing the expensive medicines ministers are trying to make cheaper, according to a new report. The government places no conditions on its loans and grants to biotech and pharma start-ups about the eventual prices they will charge for their drugs, the report, by ... Read More »

Dutch court won’t send back British drugs trafficker, citing prison conditions

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Dutch judges have refused to extradite a British drugs smuggler to the UK because of their concerns about the state of a British jail. The man, who had been living in Spain, was the subject of a European arrest warrant issued in Liverpool in 2017 on charges of trafficking heroin and cocaine, and was picked up in the Netherlands. The ... Read More »

Better Managers Make Companies More Productive

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Industrial companies with a higher quality of management perform better – they have higher productivity and more international activities than companies with lower quality management, according to a study done by the University of Groningen and Statistics Netherlands at the request of the Ministry of Economic Affairs and Climate. The University of Groningen and Rabobank measured the quality of management ... Read More »

Abn Amro Expects 10% More Bankruptcies This Year

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Economic growth in the Netherlands will slow down this year, and that will affect businesses, according to ABN Amro. The bank’s economists expect the Dutch economy to grow by 1.4 percent this year, almost half the growth 2018 saw. And the number of bankruptcies, excluding sole traders, will increase by 10 percent, ABN Amro expects, NU.nl reports. The lower economic ... Read More »

Dutch state railway formally winds up Irish tax avoidance structure

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The Dutch state railway, Nederlandse Spoorwegen (NS), has moved to formally wind up a Dublin-based company structure that had been the subject of fierce controversy in its home country over tax avoidance. Its Dutch parent group has appointed restructuring practitioner Eamonn Richardson of KPMG as liquidator to two Irish train-leasing companies that were at the heart of the long-running tax ... Read More »

3 Arrested In Netherlands For Laundering Over $1 Billion For Indian Firm

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THE HAGUE: Dutch investigators have arrested three former employees of a local company suspected of laundering some $1.2 billion for an energy client in India, prosecutors said Friday. The Dutch company bought materials and services around the world for the Indian firm which has been involved in laying a gas pipeline on the subcontinent since 2006. “It is suspected that ... Read More »

Drug ring suspected of smuggling 13kg cocaine from Netherlands to Finland

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Police have concluded a pre-trial investigation into a group of smugglers they suspect of importing 13kg of cocaine into Finland from the Netherlands. Police said they seized more than 800g of cocaine during the probe. Police suspect that the cocaine was smuggled from the Netherlands to the southern Finnish city of Tampere. The drug was mainly distributed in Tampere, but ... Read More »

Dutch firms agree to create 3,500 jobs for refugees in two years

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Fifteen large Dutch employers, including Shell, ING, Philips and construction company Dura Vermeer have agreed to create 3,500 permanent jobs for refugees in the Netherlands and abroad over the next two years, the Financieele Dagblad said on Tuesday. In addition, the firms are starting a string of initiatives to help a further 10,000 refugees improve their prospects to get a ... Read More »

Panama Papers generate €8m for Dutch treasury – so far

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The Panama Papers – millions of documents about offshore entities leaked in April 2016 – have generated €8m in extra taxes and fines for the Dutch treasury, Trouw said. So far, the tax office has identified some 500 individuals and companies with links to the documents, which came from Panamanian law firm Mossack Fonseca, the paper said. The information has ... Read More »

An expat’s guide to safely filing the 2019 Dutch Income Tax returns

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The tax return deadline is around the corner, and that means it is also the right time to brush up on your knowledge related to the changes introduced this year in the tax code. The timeframe for submitting income tax returns in the Netherlands depends on your situation. In many cases resident taxpayers need to file their returns by 30 ... Read More »

“Large batch” cocaine found at rotterdam fruit company

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On Monday customs officers found a “large batch” of cocaine at the office building of a Rotterdam fruit company on Keilestraat, the Public Prosecutor said in a statement. The drugs were hidden in a banana shipment from Ecuador, according to the Prosecutor. In a number of pallets full of banana boxes, the fruit was replaced by packages of cocaine. The ... Read More »

1,500 kilos of cocaine seized in international drug bust; 14 arrested

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The Dutch and Belgian police seized 1,500 kilograms of cocaine at the port of Antwerp. The cocaine, hidden in a banana shipment, was intended for a company in Kapelle. 14 men were arrested at the company, the police said in a statement. On Monday a police SWAT team raided the company in Kapelle, after the truck that contained the cocaine ... Read More »

Dutch Father, Sons Arrested In International Cocaine Bust

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A Dutch father and his two sons were arrested in Belgium and Spain over the past weeks for smuggling 3,300 kilograms of cocaine into the Netherlands through the port of Antwerp. The cocaine was seized in a warehouse in Hazeldonk in January 2017. All three suspects have been extradited to the Netherlands and are in custody, the police said in ... Read More »