03.15.23

Initiative Bill for Groceries

Inflation in the current market has a direct correlation with fluctuating VAT rates.  

The Netherlands has submitted an Initiative Bill, which would seek specifically to amend the OB Act 1968 and the BES Tax Act.  

Through this modification, it is expected that foodstuffs will then be included under Table 11 of the 1968 OB Act for 12 months after having come into force, which effectively means the application of a nil VAT rate under Article 9, paragraph 1, part b, OB Act 1968.  

The Netherlands is a compliant territory for Tungsten Network and we support all valid VAT rates in the country.