# The Double Taxation Relief (Bank Levy) (Netherlands) Order 2015, Note: Explanatory note


(This note is not part of the Order)
The Schedule to this Order contains a convention and a protocol (“the arrangements”) made between the United Kingdom of Great Britain and the Kingdom of the Netherlands for the avoidance of double taxation and international tax enforcement in relation to the bank levy and the equivalent Netherlands bank tax. This Order brings the arrangements into effect.
The arrangements aim to eliminate double taxation where a bank is chargeable to the bank levy and the equivalent levy in the Netherlands. This is done by allocating the taxing rights that each country has under its domestic law over the same bank or by providing relief from double taxation by way of credit for the other country’s levy.
Article 1 provides for citation and commencement.
Article 2 makes a declaration as to the effect and content of the double taxation and international tax enforcement arrangements.
The arrangements will enter into force on the day of the exchange of the instruments of ratification. They will take effect from 1st January 2011.
The date of entry into force of the arrangements will, in due course, be published in the London, Edinburgh and BelfastGazettes.
In line with government commitments, a Tax Information and Impact Note has not been prepared for this Order as it gives effect to a previously announced policy to enact a double taxation agreement.

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Source: https://www.legislation.gov.uk/uksi/2015/335/note (the official version)
Page: https://openlegislation.uk/double-taxation-relief-bank-levy-netherlands-order-2015/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.