Chemical group OCI will pay 5 billion euros to its shareholders – tax-free, through clever use of the law. The Netherlands thus misses out on 750 million euros in dividend tax. That’s what NRC writes.
These are two minor changes to the articles of association that the shareholders of chemical group OCI will vote on this Thursday afternoon in Hotel Park Centraal in Amsterdam. First, the capital of the company listed on the Amsterdam stock exchange is formally increased by 2.7 billion euros, a minute later the capital is reduced by the same amount. In this way, 2.7 billion euros can be paid out to shareholders in one fell swoop. Tax free.
It is not the first time that OCI – market leader in fertilizer and the world’s largest producer of the plastic melamine – has done this. If the shareholders agree to the amendments to the articles of association on Thursday, a total of 5 billion euros have been paid out tax-free to the shareholders through this construction over the last three years. Because the same thing happened in 2022 and 2023. As a result, the Dutch Tax Authorities will miss out on dividend tax of 750 million euros, the newspaper said.
Source: NRC
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Tags: Netherlands missing million dividend tax chemical group OCI
