The Explanatory Memorandum to the signed UK/Netherlands Double Taxation Convention and Protocol has been published on the HMRC website.

The explanatory memorandum has been prepared by HM Revenue & Customs and contains information for the Select Committee on Statutory Instruments.

The draft Order brings into effect those arrangements specified in the Double Taxation Relief and International Tax Enforcement Convention (“the Convention”) set out in the Schedule to the draft Order and subject to the affirmative resolution procedure.

The detail of the Memorandum can be found on the HMRC website at http://www.hmrc.gov.uk/international/netherlands–em.pdf

It should be stressed that this agreement has not yet come into force. It will do so when both countries have completed their legislative procedures.