The Proposal is largely in line with earlier publications, save for certain specific new insights (e.g. hybrids). It has both a negative effect, including a 15% dividend tax on distributions made by (passive) holding cooperatives to members in a non-treaty country, as well as positive effects, i.e. an exemption from dividend tax in non-abusive business structures in treaty situations for cooperatives, BVs and NVs alike.
We recommend reviewing existing structures that make use of cooperatives for the holding of participations in light of this Proposal. This Proposal may also allow you to simplify your corporate structures or otherwise limit a Dutch dividend withholding tax exposure. We are obviously more than happy to assist you in reviewing your structures to ensure their future effectiveness.