ASML threatening to move abroad for no good reason
Population growth is falling, tax advantages for expats are not attractive enough and there’s a lack of qualified workers. Three reasons why Peter Wennink from tech giant ASML is unhappy with the Dutch business climate and is threatening to move abroad.
If the company is unable to expand in the Netherlands, then ASML is seriously considering moving abroad. The Dutch cabinet is now working behind the scenes on a plan to keep the tech giant on native soil. But from a tax perspective, the company has no reason to complain, says Jan van de Streek, Professor of Tax Law, in an article on Dutch news site RTLNieuws. ‘ASML pays 15% income tax, so the company is hardly suffering in that area. There’s nowhere in the world you’d pay less tax. ASML is crying crocodile tears.’
‘ASML is crying crocodile tears over tax.’
While Van de Streek does acknowledge the value of ASML, he believes there are limits to what the government can and should do: ‘ASML is an important company for the Netherlands, but granting tax advantages to individual companies would be State aid and that’s unacceptable.’
Read the full article (in Dutch) on RTLNieuws.
Photo: Mathew Schwartz through Unsplash