Growth Network

22/09/2022

Time to celebrate— Growth Network ( www.growthnetwork.nl ) has been awarded as the ‘Best Indo-Dutch Business Co-operation Network 2022’

A big thanks & congratulations to the whole team at Growth Network, our consultants, partners and customers for this achievement !!

This award inspires us to keep striving for more collaboration of business in India and Netherlands and bring value to customers and support them to reach their plans for future growth.

20/02/2021

Amsterdam moves up global ranking for foreign investment

Amsterdam has placed fourth in the fDi Intelligence Global Cities of the Future rankings for 2021-22, behind Singapore, Dubai and London. The Dutch capital climbed four places since the previous ranking in 2018-19, during what the latest report called a “particularly challenging period” for the global economy and foreign investment due to the COVID-19 pandemic.

Cities were assessed in a range of categories, including economic potential, business friendliness and human capital and lifestyle. The report found that Amsterdam recorded the highest foreign investment per 100,000 people between 2015 and 2020. It also predicted that the city will benefit from a “Brexit-related exodus” of companies from London thanks to its well-established financial sector.

The city’s strong performance was also driven by its connectivity. The Dutch capital is often described as “the gateway to Europe”, with Amsterdam Airport Schiphol and high-speed rail services making it easy to work and travel across the continent and beyond.

The Dutch capital placed fourth in the fDi Intelligence global ranking, which assesses cities’ prospects for foreign investment, economic development and business expansion.

19/02/2021

More 'Brexit' companies shift to the Netherlands as uncertainty persists

Amsterdam has attracted companies in trading and finance, medicine and agriculture, as well as logistics and distribution looking to secure their European operations as Britain departed the European Union.

The flow of businesses moving to the Netherlands because of Brexit remained strong in 2020, even though foreign investment fell by a quarter as the coronavirus pandemic hit, the Netherlands Foreign Investment Agency said on Thursday.

Amsterdam has attracted companies in trading and finance, medicine and agriculture, as well as logistics and distribution looking to secure their European operations as Britain departed the European Union

18/02/2021

New figures released by amsterdam inbusiness have revealed 101 international companies opened offices in the Amsterdam Area in 2020, while 35 foreign companies already established in the region expanded their operations. In total, this helped to create 4,455 new jobs.

Welcoming the news, Amsterdam’s Deputy Mayor for Economic Affairs Victor Everhardt said: "When it comes to attracting foreign companies, every year we reset the counter to zero. And in a year when we were hit hard by the coronavirus crisis, the fact that more than 100 companies chose the Amsterdam Area is a good result. What is even better is that combined with the companies that expanded in 2020, they created almost 4,500 new jobs. Of course, we will continue to do our utmost in 2021 to attract and retain foreign companies."

New figures released by amsterdam inbusiness have revealed 101 international companies opened offices in the Amsterdam Area in 2020, while 35 foreign companies already established in the region expanded their operations.

04/02/2021

Shell posts loss of nearly $22bn in an ‘extraordinary’ year

Royal Dutch Shell posted an unprecedented loss of $21.7bn in 2020, compared with net profit of almost $16bn in 2019, the oil giant confirmed on Thursday. Shell, like all oil and gas companies, has been hit by a combination of the oil crisis and the coronavirus pandemic, which has hammered the sale of petrol, diesel and airline fuel.

Chief executive Ben Burden described 2020 as ‘extraordinary’ and said in a statement that the company had ‘taken tough but decisive actions and demonstrated highly resilient operational delivery.’

Earlier this week, ExxonMobil announced it had made a loss of $22.4bn while BP lost $5.7bn.

https://www.dutchnews.nl/news/2021/02/shell-posts-loss-of-nearly-22bn-in-an-extraordinary-year/

Royal Dutch Shell posted an unprecedented loss of $21.7bn in 2020, compared with net profit of almost $16bn in 2019, the oil giant confirmed on Thursday. Shell, like all oil and gas companies, has been hit by a combination of the oil crisis and the coronavirus pandemic, which has hammered the sale o...

02/02/2021

India 2021 Budget !

https://www.indiabudget.gov.in/doc/Budget_Speech.pdf

01/02/2021

Startups get tax holiday, capital gains exemption by one more year

The India Union Budget for 2021-22 seems to be in favour of the Indian startup ecosystem by announcing tax incentives for startups and an extension in capital gains exemption by one year, which comes as a relief for startups as they were looking for some support from the Union Budget after the COVID shock of March 2020 devastated most industries.

"In order to incentivise startups in the country, I propose to extend the eligibility for claiming tax holiday for startups by one more year - till March 31, 2022. Further, in order to incentivise funding of the startups, I propose to extend the capital gains exemption for investment in startups by one more year - till March 31, 2022," the Finance Minister said.
The government announced this under the Startup Up India plan, a tax holiday for startups in a block of 7 years.

Under the current regulations, a startup incorporated after April 1, 2016, is eligible for getting 100 percent tax rebate on profit for a period of three years in a block of seven years, given that the annual turnover does not exceed Rs25 Cr in any financial year.

https://www-startupnews-fyi.cdn.ampproject.org/c/s/www.startupnews.fyi/amp/startups-get-tax-holiday-capital-gains-exemption-by-one-more-year

15/01/2021

Dutch cabinet resigns in wake of childcare benefit scandal

Following a two-hour ministerial meeting in The Hague on Friday, Prime Minister Mark Rutte and his fellow cabinet ministers have decided to step down as a result of the role the cabinet played in the childcare benefits scandal (toeslaganaffaire).

https://www.iamexpat.nl/expat-info/dutch-expat-news/dutch-cabinet-resigns-wake-childcare-benefit-scandal?

Following the fallout of the dutch childcare benefit scandal (toeslagainaffaire), the Dutch cabinet and Prime Minister Rutte have decided to resign.

31/12/2020

60 new laws & rules take effect in the Netherlands from January 1

With a new year comes a host of law changes, new rules, and regulations to be implemented in the Netherlands. The Dutch government is enforcing dozens of these new laws as of January 1, 2021. Every year, NL Times compiles a roundup of these rule changes for non-Dutch speaking people.

The following is a summary of the main changes per category. Click on each section header for a full article about each category's changes in the new year.

For 2021, the Dutch government categorized these laws into seven different sections.

https://nltimes.nl/2020/12/31/60-new-laws-rules-take-effect-netherlands-january-1

With a new year comes a host of law changes, new rules, and regulations to be implemented in the Netherlands. The Dutch government is enforcing dozens of these new laws as of January 1, 2021. Every year, NL Times compiles a roundup of these rule changes for non-Dutch speaking people. The following i...

29/12/2020

Dutch law in 2021: Here's what's changing from January 1

New year, new laws. There's lots changing in 2021 - here's everything you need to know about Dutch law in 2021, and how it will affect you as an expat.

Fears of a recession brought on by the ongoing coronavirus crisis mean that there are significant changes to the Dutch tax system in 2021. To give a general overview, the lowest bracket for corporation tax will be reduced from 16,5 percent to 15 percent, and the threshold for this bracket will be changed to allow more SMEs to be eligible. The Dutch government has also announced a new investment tax credit from 2021, which will mean businesses that make an investment i.e. the purchase of new technology, will receive a tax credit.

The tax on small investors and savers will also be reduced: no tax will be charged on assets up to 50.000 euros, and anyone with assets up to 220.000 per person will be charged less tax. The tax rates for entrepreneurs and self-employed people will also be reduced to be made fairer.

With a new year comes a lot of changes. Here's everything you need to know about the changes to Dutch law that you can expect in 2021.

29/12/2020

Negative Covid test now mandatory for travel to the Netherlands

Passengers aged 13 and up traveling commercially to the Netherlands from nearly any origin point in the world will be required to provide test results showing they do not have an active SARS-CoV-2 infection. The government’s newest measure to reduce coronavirus cases in the Netherlands went into effect at 12:01 a.m. on Tuesday.

Only PCR tests are acceptable, and the test must have been conducted within 72 hours of arrival in the Netherlands. The rules cover all modes of transportation except arrival by car, though the Dutch government noted that other countries en route to the Netherlands may have different regulations.

https://nltimes.nl/2020/12/29/negative-covid-test-now-mandatory-travel-netherlands

Passengers aged 13 and up traveling commercially to the Netherlands from nearly any origin point in the world will be required to provide test results showing they do not have an active SARS-CoV-2 infection. The government’s newest measure to reduce coronavirus cases in the Netherlands went into e...

17/12/2020

First coronavirus vaccine in the Netherlands to be given on Jan. 8

A day after the Dutch government was criticized for not being ready to quickly start vaccinating the public against the SARS-CoV-2 coronavirus, Health Minister Hugo de Jonge said the country will administer its first vaccine dose on January 8. The date would rely on the European Medicines Agency giving its approval to the Pfizer/BioNTech vaccine which has already received the green light in the United Kingdom and the United States.

In a statement, the Ministry of Health said people will be invited to get the vaccine starting on January 4. Those who receive the first invitations can then call to book an appointment. The first group to be inoculated will be care home staff, people who provide care to those with disabilities, in-home nurses, and home healthcare support workers.

"The GGD will vaccinate at three locations in the country by Monday, 11 January at the latest. Vaccinations will take place at 25 central locations from Monday 18 January," the ministry stated. Vaccinations will be carried out daily, and locations will have extended opening hours.

https://nltimes.nl/2020/12/17/first-coronavirus-vaccine-netherlands-given-jan-8?

A day after the Dutch government was criticized for not being ready to quickly start vaccinating the public against the SARS-CoV-2 coronavirus, Health Minister Hugo de Jonge said the country will administer its first vaccine dose on January 8. The date would rely on the European Medicines Agency giv...