Billionaire windfall thanks to profit tax, even more expected this year

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Minister Sigrid Kaag of Finance
NOS NewsAmended

Last year more income tax was received than ever before and the amount is expected to rise even further this year. RTL Nieuws reports that 38.5 billion euros were collected last year.

The cabinet had originally counted on 27 billion euros in income from the tax on profits. So there is a windfall of 11 billion euros. The reason is that companies in the Netherlands have made more profit than expected.

Sources from The Hague tell the NOS that companies are expected to make much more profit this year and that the income from profit tax will therefore increase further.

Energy ceiling and interest

Incidentally, this billion-dollar windfall does not necessarily mean that the cabinet suddenly has a lot of money left over. There are also setbacks. For example, the energy ceiling – the costs of which have not yet been determined – must still be paid.

In addition, interest rates on loans, including those of the government, are rising. Expiring loans must be refinanced at higher interest rates. The costs of this can run into the billions per year.

At the end of April, more will become clear about the state of government finances, because then the government will take stock in the Spring Memorandum.

  • Cabinet is looking for billions because of higher interest and costs of energy support
  • Politics

  • Economy

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