Agreement Between the United States and the Netherlands
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Reforming the Social Security WEP Exposes Weakness in State and Local Pensions
INCOME AND BENEFITS POLICY CENTER RESEARCH REPORT Reforming the Social Security WEP Exposes Weaknesses in State and Local Pensions Chantel Boyens Erald Kolasi Jack Smalligan March 2019 ABOUT THE URBAN INST ITUTE The nonprofit Urban Institute is a leading research organization dedicated to developing evidence-based insights that improve people’s lives and strengthen communities. For 50 years, Urban has been the trusted source for rigorous analysis of complex social and economic issues; strategic advice to policymakers, philanthropists, and practitioners; and new, promising ideas that expand opportunities for all. Our work inspires effective decisions that advance fairness and enhance the well-being of people and places. Copyright © March 2019. Urban Institute. Permission is granted for reproduction of this file, with attribution to the Urban Institute. Cover image by Tim Meko. Contents Acknowledgments iv Reforming the Social Security WEP Exposes Weaknesses in State and Local Pensions 1 Social Security Coverage 2 Treatment of Noncovered Earnings in Social Security 3 The Equal Treatment of Public Servants Act of 2018 5 Estimated Impact on Beneficiaries 7 Noncovered State and Local Government Workers and Their Pensions 8 Analysis 11 Policy Options 15 Request Additional Analysis 16 Update Regulations Governing Noncovered Pensions 16 Modify PSF and Improve Administration 16 Implement Universal Coverage 17 Conclusion 17 Appendix A. Brief Primer on Actuarial Methodology 20 Appendix B. PSF and Pattern of Earnings 22 Notes 24 References 25 About the Authors 26 Statement of Independence 27 Acknowledgments This report was funded by the Laura and John Arnold Foundation. We are grateful to them and to all our funders, who make it possible for Urban to advance its mission. -
GOING GLOBAL EXPORTING to NETHERLANDS a Guide for Clients
GOING GLOBAL EXPORTING TO NETHERLANDS A guide for clients #GlobalAmbition Capital city Amsterdam Population 17.3m1 GDP per capita ¤41,5002 6th in the World North Sea Competitiveness Ranking3 Unemployment (2019)AMSTERDAM 3.4%4 Predicted economic growth for 20195 3% GERMANY Enterprise Ireland client exports (2018) ¤1.07bn6 BELGIUM 2 WHY EXPORT TO THE NETHERLANDS? Only half the size of Ireland, yet the Dutch have left their mark on the world as innovators, trail blazers and world-class business professionals. The Dutch are active worldwide in providing creative and sustainable solutions for global challenges relating to water, food, energy, health, environment, and security. The Dutch data centre community, which also The Netherlands already has a robust healthcare GDP per capita houses the Amsterdam Internet Exchange (AMS-IX), and pharma landscape with companies like MSD, 2 is growing continuously with 18% average growth Jansen, TEVA, Takeda, Omron, Konica Minolta and ¤41,500 in take-up of data centers in the last 7 years in the many more. This is strengthened by the recent Amsterdam region.7 Co-locations like Interxion opening of the European Medicines Agency (EMA) but also hyper-scale data centres like Google and in Amsterdam in March 201913. The Netherlands Microsoft are well established and various new data represents an ideal market for first-presence and centres are being built over the coming years8. scaling-up in mainland Europe, from which a European export strategy can be grown. The culture Ranked number one in the world for overall logistics is direct and early-adopting which makes for shorter performance9, the Netherlands is home to world- sale cycles, reducing client risk. -
No. 1168 BELGIUM, DENMARK, FRANCE, IRELAND, ITALY
No. 1168 BELGIUM, DENMARK, FRANCE, IRELAND, ITALY, LUXEMBOURG, NETHERLANDS, NORWAY, SWEDEN and UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND Statute of the Council of Europe. Signed at London, on 5 May 1949 Official texts: English and French. Registered by the United Kingdom of Great Britain and Northern Ireland on U April 1951. BELGIQUE, DANEMARK, FRANCE, IRLANDE, ITALIE, LUXEMBOURG, NORVÈGE, PAYS-BAS, ROYAUME-UNI DE GRANDE-BRETAGNE ET D'IRLANDE DU NORD et SUÈDE Statut du Conseil de l'Europe. Signé à Londres, le 5 mai 1949 Textes officiels anglais et fran ais. Enregistr par le Royaume-Uni de Grande-Bretagne et d* Irlande du Nord le II avril 1951. 104 United Nations Treaty Series 1951 No. 1168. STATUTE1 OF THE COUNCIL OF EUROPE. SIGNED AT LONDON, ON 5 MAY 1949 The Governments of the Kingdom of Belgium, the Kingdom of Denmark, the French Republic, the Irish Republic, the Italian Republic, the Grand Duchy of Luxembourg, the Kingdom of the Netherlands, the Kingdom of Norway, the Kingdom of Sweden and the United Kingdom of Great Britain and Northern Ireland : Convinced that the pursuit of peace based upon justice and international co-operation is vital for the preservation of human society and civilisation; Reaffirming their devotion to the spiritual and moral values which are the common heritage of their peoples and the true source of individual freedom, political liberty and the rule of law, principles which form the basis of all genuine democracy; Believing that, for the maintenance and further realisation of these ideals and in -
1 211 Cmr 71.00: Medicare Supplement
211 CMR 71.00: MEDICARE SUPPLEMENT INSURANCE AND EVIDENCES OF COVERAGE ISSUED PURSUANT TO A RISK OR COST CONTRACT -- TO FACILITATE THE IMPLEMENTATION OF M.G.L. c. 176K AND SECTION 1882 OF THE FEDERAL SOCIAL SECURITY ACT Section 71.01: Purpose 71.02: Applicability, Scope and Effective Date 71.03: Definitions 71.04: Readability Standards 71.05: Standards for Policy Definitions 71.06: Policy Limitations 71.07: Renewability 71.08: Policy Benefit Standards 71.09: New or Innovative Benefits 71.10: Open Enrollment and Guarantee Issue for Medicare Supplement Insurance and Evidences of Coverage Issued Pursuant to a Risk or Cost Contract 71.11: Standards for Claims Payment 71.12: Policy Filings for Medicare Supplement Insurance and Rate Review for Medicare Supplement Insurance and Evidences of Coverage Issued Pursuant to a Cost Contract 71.13: Required Disclosure Provisions 71.14: Requirements for Application or Replacement 71.15: Appropriateness of Recommended Purchase and Excessive Insurance 71.16: Standards for Marketing 71.17: Filing Requirements for Advertising 71.18: Permitted Producer Compensation Arrangements 71.19: Reporting of Multiple Policies 71.20: Permitted Surcharges or Discounts for Medicare Supplement Insurance and Evidences of Coverage Issued Pursuant to Cost Contracts 71.21: (Reserved for Medicare Select) 71.22: Withdrawal from Market for Medicare Supplement Insurance 71.23: Health Maintenance Organizations and Evidences of Coverage Issued Pursuant to a Risk or Cost Contract 71.24: Annual Public Hearing to Monitor Market Condition 71.89: Severability 71.90: Appendix A - Medicare Supplement Core 71.91: Appendix B - Medicare Supplement 1 71.92: Appendix C - Medicare Supplement 2 71.96: Appendix D - Medicare Supplement Refund Calculation Form 71.97: Appendix E - Form for Reporting Medicare Supplement Insurance Policies 71.98: Appendix F - Outline of Coverage, Cover Page 71.99: Appendix G- Outline of Coverage, Charts 71.100: Appendix H - Disclosure Statements 1 71.01: Purpose The purpose of 211 CMR 71.00 is to provide for the implementation of M.G.L. -
United Kingdom
United Kingdom Convention between the government of the United Kingdom of Great Britain and Northern Ireland and the government of the Kingdom of the Netherlands for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains. Done at The Hague, on 7 November 1980 text published: Trb. 1980, 205 authentic texts: Dutch and English treaty into force: 6 April 1981 (see Trb. 1981, 54) treaty applicable: 6 April 1980 Protocol amending the convention between the government of the Kingdom of the Netherlands and the government of the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains signed at The Hague on 7 November 1980 Done at The Hague, on 12 July 1983 text published: Trb. 1983, 128 authentic texts: Dutch and English treaty into force: 20 December 1990 (see Trb. 1991, 13) treaty applicable: 1 January 1991 Protocol further amending the convention between the government of the Kingdom of the Netherlands and the government of the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and capital gains signed at The Hague on 7 November 1980 as amended by the protocol signed at London on 12 July 1983 Done at The Hague, on 24 August 1989 text published: Trb. 1989, 128 authentic texts: Dutch and English treaty into force: 20 December 1990 (see Trb. -
OECD Economic Surveys Belgium February 2020
OECD Economic Surveys Belgium February 2020 OVERVIEW www.oecd.org/economy/belgium-economic-snapshot/ This Overview is extracted from the Economic Survey of Belgium. The Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries. This document and any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. OECD Economic Surveys: Belgium© OECD 2020 You can copy, download or print OECD content for your own use, and you can include excerpts from OECD publications, databases and multimedia products in your own documents, presentations, blogs, websites and teaching materials, provided that suitable acknowledgment of OECD as source and copyright owner is given. All requests for public or commercial use and translation rights should be submitted to [email protected]. Requests for permission to photocopy portions of this material for public or commercial use shall be addressed directly to the Copyright Clearance Center (CCC) at [email protected] or the Centre français d’exploitation du droit de copie (CFC) at [email protected]. EXECUTIVE SUMMARY 1 Executive Summary Belgium performs well in many economic and well-being dimensions, but some risks are building up The resilience of public finances should be increased Improving labour market outcomes is key Boosting potential growth requires higher productivity growth 2 EXECUTIVE SUMMARY Belgium performs well in many economic increase vulnerabilities and lower the resilience and well-being dimensions, but some risks of the financial system. -
Memorandum of Understanding
MEMORANDUM OF UNDERSTANDING Between the Minister of Environment and Climate Action of the Portuguese Republic and the Minister of Economic Affairs and Climate Policy of the Netherlands In the field of Energy – Hydrogen The Minister of Environment and Climate Action of the Portuguese Republic and the Minister of Economic Affairs and Climate Policy of the Netherlands (hereinafter referred to as “Signatories”), affirm their intentions to connect Portugal's and the Netherlands's 2030 Hydrogen plans, especially on green hydrogen, in order to contribute to decarbonise the economy and to create a forward-looking European hydrogen infrastructure and market in the near future, in line with the EU climate goals. Therefore, the Ministers acknowledge: • The need to achieve the European Union (EU) 2030 climate and energy targets and draw the path towards carbon neutrality in Europe by 2050, in line with the Paris Agreement and the National Energy and Climate Plans, as a sign of our commitment for the future of Europe and its citizens. • The potential of hydrogen, namely green hydrogen produced from renewable sources, for the decarbonisation of hard-to-abate sectors, such as industry and transport, as well as its key role in the future European energy system based on sector coupling and the development of energy storage. • The urgent need to scale up the production of hydrogen in the EU in a coordinated and timely way, to ensure thereby safe, competitive, available and sustainable energy supply, while enhancing international cooperation to create a global hydrogen market. The Ministers, express their intentions to: • Strengthen the ties of friendship and to enhance the bilateral cooperation between the two EU Member States, as well as the reciprocal interests in the field of energy, namely in the area of green hydrogen. -
GAO-16-75SP, SOCIAL SECURITY's FUTURE: Answers to Key Questions
October 2015 Answers to key questions GAO-16-75SP Contents Preface 1 Section I: How Does Social Security Work? 3 Social Security’s Goals 3 1. How did Social Security begin? 3 2. What are Social Security’s goals? 3 3. How well has Social Security worked? 4 4. Who gets benefits? 7 5. What benefits does Social Security offer? 8 6. When can people get benefits? 12 7. How much interest do workers’ contributions earn? 13 8. What is social insurance? 14 Social Security’s Revenues 14 9. Where do Social Security’s revenues come from? 14 10. How much is the Social Security payroll tax? 15 11. Why is there a cap on taxable earnings? 16 12. How are Social Security benefits taxed? 17 13. What are the Social Security trust funds? 18 14. Are the Social Security trust funds like private sector trust funds? 19 15. What interest rate do the Social Security trust funds earn? 19 16. What does “pay-as-you-go financing” mean? 20 17. Are Social Security taxes spent on other government programs? 22 Section II: Why Is There a Need for Changes to Social Security? 23 Social Security’s Outlook 23 1. What is the basic problem? 23 2. What is the size of the funding gap? 25 3. Why do the Trustees look at Social Security’s future financial status over a 75-year period, and why are projections uncertain? 26 4. What are the root causes of the gap between costs and revenues? 27 5. Are there other issues that policymakers could also consider addressing? 32 Page i GAO-16-75SP Social Security's Future Overall Fiscal and Economic Outlook 34 6. -
Immigrant Diversity and Social Security: Recent Patterns and Future Prospects
Immigrant Diversity and Social Security: Recent Patterns and Future Prospects MELISSA M. FAVREAULT AUSTIN NICHOLS April 30, 2011 URBAN INSTITUTE 2100 M STREET, N.W. / WASHINGTON D.C. 20037-1231 The research reported herein was pursuant to a grant from the U.S. Social Security Administration (SSA) funded as part of the Retirement Research Consortium (RRC). The findings and conclusions expressed are solely those of the authors and do not represent the views of SSA, any agency of the federal government, the RRC, the Urban Institute, its board, or its funders. We thank Richard Johnson and Juan Pedroza of the Urban Institute, Bill Davis of the Social Security Administration, plus participants in a seminar at the Social Security Administration’s Division of Policy Evaluation in the Office of Research, Evaluation, and Statistics for helpful comments. Thuy Ho of the Social Security Administration facilitated access to the survey data matched to the administrative records. All errors remain our own. ABSTRACT Immigration is transforming the U.S. labor force with important consequences for Social Security’s adequacy and finances. Using longitudinal data from the Survey of Income and Program Participation matched to administrative data on lifetime earnings and benefit receipt, we measure the extent to which nonnatives’ lifetime earning patterns, payroll taxes paid, benefits received, and total incomes differ from those for the U.S.-born population. We consider other outcomes important to retirement security, like health status, marital status, and financial wealth. We also compare various immigrant groups with one another. Our findings stress heterogeneity in labor force and Social Security experiences among immigrants. -
Old Age, Survivors and Disability Insurance – OASDI)
2020 Social Security/SSI/Medicare Information Social Security Program (Old Age, Survivors and Disability Insurance – OASDI) 2020 Maximum Taxable Earnings Base: OASDI-- $ 137,700; HI (Hospital Insurance)-- No limit Federal Tax Rate Max OASDI Max HI Employee 7.65% ( 6.20% - OASDI, 1.45% - HI)1 $ 8,537.40 No limit Employer 7.65% ( 6.20% - OASDI, 1.45% - HI) $ 8,537.40 No limit Self-employed 15.30% (12.40% - OASDI, 2.90% - HI) $17,074.80 No limit Earnings Required for Work Credit (Quarter of Coverage) in 2020: $1,410 ($5,640 for four) Full Retirement and Age 62 Benefit (by Year of Birth): 1938 - 65/2 mos. 1942 - 65/10 mos. 1957 - 66/6 mos. 1939 - 65/4 mos. 1943 -54 66 1958 - 66/8 mos. 1940 - 65/6 mos. 1955 - 66/2 mos. 1959 - 66/10 mos. 1941 - 65/8 mos. 1956 - 66/4 mos. 1960+ - 67 Benefits for Retirees (1/2020)2: Age 62 Full Retirement Age (FRA) PIA Benefit PIA Benefit Scaled low earner $1,181.40 $ 846 $1128.50 $1,128 Scaled medium earner $1,944.90 $1,393 $1,860.30 $1,860 Maximum earner $3,142.70 $2,252 $3,011.50 $3,011 Long Range Constant Pre-Retirement Earnings Replacement Rate: Retirement at Age 67 in 2030 or later Scaled low earner: 55% Scaled medium earner: 41% Maximum earner: 27% Coverage Thresholds for 2020: Self-Employment Domestic Employment Election Workers $ 400 $2,200 $1,900 OASDI Covered Workers (est.in millions, Calendar Year (CY) 2019): Wage Self-employed Combined 166.4 20.2 177.6 Percent of workers in paid employment or self-employment who are covered: 94% Estimated Worker/Beneficiary Ratio: 2019 2040 2.8 to 1 2.2 to 1 CY 2020 Retirement Test Annual Exempt Amounts: • Retirement earnings test applies only to people below FRA. -
Neth V Czech
Round 16 - NETHERLANDS v CZECH REPUBLIC BEST BET Both Teams to Score: Only one team to score ($1.92) The Dutch have solved their defensive woes from the opening game and are a good chance of holding the Czechs – with one goal in their last two – scoreless. BEST VALUE First Goalscorer: Memphis Depay – Netherlands ($4.75) Looking every bit the excitement machine, Depay has been in the thick of everything for the Netherlands in attack. FULL MATCH PREVIEW UEFA Euro 2020 Round of 16 Puskas Arena, Budapest Mon 28 Jun 2:00 Broadcaster: Optus Sport Head-to-Head: Netherlands ($1.65), Draw ($3.70), Czech Republic ($5.00) Netherlands World Ranking: 16 Czech Republic World Ranking: 40 Group C Results – Netherlands (First – 3 wins) Netherlands 3–2 Ukraine Netherlands 2–0 Austria North Macedonia 0–3 Netherlands Top Scorer: 3 – Georginio Wijnaldum Group D Results – Czech Republic (Third – 1 win, 1 loss, 1 draw) Scotland 0–2 Czech Republic Croatia 1–1 Czech Republic Czech Republic 0–1 England Top Scorer: 3 – Patrik Schick Summary: Doubts were raised about the quality of this Dutch side in the lead-up to the tournament but their perfect record in the group stage seems to indicate they’re a lot stronger than many critics believed. Perhaps it’s worth looking at what they can do on the park rather than what they can’t – and eight goals in three games says they’re a free-scoring machine. It was said they needed to find support for Memphis Depay in attack and it’s been the unlikely figure of captain Georginio Wijnaldum – usually a stay-at-home midfielder – who has struck three goals in the last two games. -
Tax Across Borders – SA and the Netherlands
Tax across borders – SA and The Netherlands By Jan Hein Wille, FISA member and Managing Director, Pelican Trust BV (Port Elizabeth subsidiary called Oak Tree Corporate Service Providers (Pty) Limited) South Africa is one of the emerging economies in the world and a leading role-player in the G-20 and other international forums, such as BRICS, where the shape of the global economy into the future is being deliberated”. H.E. Mr Peter Goosen, South African Ambassador to The Netherlands (SANEC Business Directory 2013). My experience as a tax professional in Amsterdam and Port Elizabeth is indeed that South African companies and individuals are crossing borders. A number of them settle for a short time or longer in The Netherlands, and similarly Dutch entrepreneurs and individuals are coming down to South Africa. In this brief article I will limit myself to the tax issues that apply to South African taxpayers with income from The Netherlands and the possibilities for the Dutch Tax Administration to tax these income components in The Netherlands. Of course it’s impossible to discuss these subjects in detail. The tax implications for individuals with taxable income in and from The Netherlands ruled by the South African Income Tax Act 1962, The Dutch Wet op de inkomstenbelasting 2001 and the Convention between the Kingdom of the Netherlands and the Republic of South Africa for the avoidance of double taxation, Pretoria 10th October 2005 (the tax treaty). According the Dutch income tax law and the bilateral tax treaty, a South African tax resident shall be taxable in The Netherlands if he/she derives income from: a.