DUTCH TAX LEGISLATION. 8.1. The Dutch Tax Authorities are of the opinion that SBC supplies a VAT taxable service to startups (only those who are organized under Dutch law) that participate in the Program. Therefore, SBC shall issue an invoice to the Company in the amount of EUR 13,000 (excl. VAT) for tax purposes only. Of this invoice only the VAT has to be paid by the Company to SBC, which may be reclaimed from the Dutch Tax Authorities by the Company. Therefore, this will not lead to any net cash outs for the Company. The issue of Shares to SBC is considered as payment for the services provided and the invoice sent by SBC. The Company agrees to submit the invoice to the Dutch Tax Authorities in the same quarter that SBC has issued the invoice to the Company. SBC will provide detailed instructions regarding this tax procedure at the start of the program.
Appears in 5 contracts
Samples: Shareholders’ Agreement, Shareholders’ Agreement, Shareholders’ Agreement
