7 votes

Dutch will spend $2.7 billion on improving infrastructure to keep ASML

1 comment

  1. skybrian
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    From the article: ...

    From the article:

    The company shocked the Dutch government into action after CEO Peter Wennink went public [in March] with complaints about policy, including plans to end a tax break for skilled migrants which would make it harder for ASML to hire vital staff.

    ASML also said the government has failed to invest properly to improve infrastructure in the Eindhoven area, from highways to housing to electrical grid improvements.

    ...

    A Reuters survey of Dutch blue-chip companies this month found that more than a dozen were considering moving operations outside the Netherlands. Many complained that after populist parties booked major gains in a national election last November, parliament has been pushing through policies without considering the long-term impact

    Talks on a new right-wing government are creeping along, forcing outgoing Prime Minister Mark Rutte's caretaker government to act.

    In addition to anti-immigration measures, companies oppose a new tax on share buybacks, limits on the tax deductibility of investments, and complain policy is too unpredictable.

    Shell and Unilever moved their headquarters to London after the Dutch government in 2018 was forced to renege on a promise to scrap a dividend withholding tax.

    3 votes