Annex 1: Increase of the bank tax
The current version of the bank tax law (see Wet bankenbelasting and the explanatory
memorandum at its inception, both in Dutch) describes the percentages that are used to calculate
the amount of bank tax in article 10:
Article 10
1. The tax is the sum of:
a. 0.044% on the part of the taxable amount obtained by multiplying the taxable amount by A/B,
where A is the total amount of the debts on the balance sheet or consolidated balance sheet to be
taken into account that have a term of less than one year and B the total amount of all debts on
that balance sheet or consolidated balance sheet, and
b. 0.022% on the remaining part of the taxable amount.
2 If the variable remuneration of at least one director of the taxpayer for the financial year for
which the balance sheet or consolidated balance sheet is drawn up amounts to more than 25% of
his fixed remuneration, the tax percentages referred to in the first paragraph are multiplied by a
factor of 1,1.

The bank tax structurally raises approximately € 470 million per year. The Dutch Second Chamber
of Parliament voted in favour of a motion to increase the bank tax with € 150 million per year. In
order to reach such an increase, the rates included in article 10, paragraph 1, sub a and b (as
shown above) should be increased from 0.044% to 0.058% and from 0.022% to 0.029%.

The taxable amount is calculated based on articles 6 to 9.
Article 6
1. The tax is levied according to the taxable amount.
2. The taxable amount is the taxable sum referred to in Article 7, less the efficiency exemption
referred to in Article 9.

Article 7
1. If there is a taxpayer as referred to in Article 3, the taxable sum is the balance sheet total of the
balance sheet, less the liabilities of that balance sheet referred to in Article 8.
2. If there is a taxpayer as referred to in Article 4, the taxable sum is the consolidated balance
sheet total of the consolidated balance sheet, less the liabilities referred to in Article 8 of that
consolidated balance sheet.
3. If there is a taxpayer as referred to in Article 5, the taxable sum is the consolidated balance
sheet total of the consolidated balance sheet of the consolidated annual accounts that should have
been drawn up if Article 403 of Book 2 of the Civil Code would not have applied, reduced with the
liabilities referred to in Article 8 of that consolidated balance sheet.

Article 8
The liabilities referred to in Article 7 are:
a. with regard to a taxpayer as referred to in Article 3(a), Article 4 or Article 5:
1°. the regulatory capital;

2°. the deposits, insofar as they are eligible for payment under a deposit guarantee scheme;
3°. the liabilities relating to the entity that carries out the business of insurer;
b. with regard to a taxpayer as referred to in Article 3, parts b or c:
1°. the liabilities that cannot be attributed to the branch office located in the Netherlands;
2°. the qualifying capital attributable to the branch;
3°. the deposits attributable to the branch, insofar as they are eligible for payment under a deposit
guarantee scheme.

Article 9
1. The efficiency exemption amounts to € 23,500,000,000.
2. If the amount of the taxable sum referred to in Article 7 is less than € 23,500,000,000, the
efficiency exemption is the amount of the taxable sum.

Below you will find an example of the calculations:
Amounts x 1.000
Calculations
Total balance
€ 200.000.000
Regulatory capital
10.000.000
Deposits eligible for payment under a 40.000.000
DGS
Liabilities related to the entity that 20.000.000
carries out the business of insurer
Taxable sum
130.000.000
Efficiency exemption
- 23.500.000
Taxable amount
106.500.000
Total debts with a term of less than 1 45.000.000
year, according to the balance sheet
Total of all debts according to the 180.000.000
balance sheet
Bank tax share of short-term debt 11.715
(106.500.000 x
45.000.000/180.000.000 x 0,00044)
Bank tax share of long-term debt 17.572
+
(106.500.000 x (180.000.000 45.000.000)/180.000.000 x 0,00022)
Total amount of bank tax
€ 32.215