- Everyone speaks English - Attractive place to relocate to both for young people and people with families. Including tax incentive (30% ruling) - Business-friendly policies & environment - Brexit starting to kick in (you can hire from a pool of 450M people with no red tape)
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Replying to @GergelyOrosz @joshua_hornby
-Expensive housing, both rent and buying. -Crazy ~50 percent tax for bonus category income -Global wealth tax after 30percent ruling finishes -5 years of 30percent although it was 8 and government didn't blink to change it for everyone. -Car ownership is heavily taxed compared DE
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To elaborate "expensive", after 30percent ruling finishes you can have 4000 net monthly income (75k gross), where rent is 1500-1900 euro and car fix costs are around 250-300 euro in Amsterdam. Fyi, 75k is considered good salary here.
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In the Netherlands, your bonus is taxed as ordinary income. What is the reason you consider that crazy?
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it is 49% for this year. in 2019 it was even more, you can see my screenshot from payslip. this is tax on bonus and holiday pay and other stuff that can be considered in bonus category.pic.twitter.com/nIS9vhslxh
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Bonus is taxed at 57,75% at payout and you get ~8.25% back when you file your income tax return minus the ‘heffingskortingen’ benefit adjustment. It really is just the ordinary income tax rate
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Replying to @thijsniks @Halil_D_ and
I don't know about other counties but taxing bonus 57,75% is too much imho. How is that in US?
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Replying to @hkaskavalci @Halil_D_ and
Again, it’s not taxed at 57%. You get the money back when you file your tax return.
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Replying to @thijsniks @hkaskavalci and
And that’s the same in the United States
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Replying to @thijsniks @Halil_D_ and
Just did some simple Googling and it seems IRS taxes 37% if bonus is over 1M$. I find it surprising that it is taxed this high in the States. Dutch discourages overtime and bonus payouts, which I understand but don't like :)
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37% is the highest federal income tax bracket. You have to add state and city taxes to that in order to compare it to a European country. But back to my original question: Why should a bonus not be taxed like regular income, like NL and US currently do? Work = work.
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Replying to @thijsniks @Halil_D_ and
Exactly! It should be taxed like regular work but it is not here. Say, Bob makes 50k̇€/y. He pays 37,10% tax on their income. When Bob gets a bonus, it is 49,50%. In US, high tax is there if you come a millionaire in a day. Here, Bob pays millionaire tax bracket for his overtime
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Replying to @hkaskavalci @Halil_D_ and
Ok, you are wrong about how Dutch taxes work, but you are clearly not doing your research or reading my replies so I’m gonna stop this conversation
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