March 31, 2023

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De Niederlandsche Bank believes the tax system must be reformed |  right Now

De Niederlandsche Bank believes the tax system must be reformed | right Now

The Dutch tax system for individuals is set to undergo an overhaul, as it is too complex for many people. This is what Klaas Knott, president of De Nederlandsche Bank (DNB), said Monday morning on a TV show good morning netherlands From broadcaster WNL.

Okdah noted that more and more people are having trouble filling out their tax returns. He specifically mentioned the “surcharge circus,” which people don’t seem to understand.

According to Knot, it has been twenty years since the last comprehensive review of the tax system. Since then, more and more political desires have been encapsulated in it. “That Christmas tree is getting heavier,” he explained. So he thinks it’s time for a substantive review. The simplification of the system should make it easier for all people to understand.

Button thinks inflation is too high

A node on the show was also asked about the growing signs of a possible recession. The DNB chief said he would definitely take any downturn into account, although he thinks it won’t be so fast. If the economy does indeed show a slight slowdown, according to Knot, it’s also important that this not be “dramatic.”

Knot acknowledges that inflation is currently too high. This is mainly due to the high prices of energy and food. He said De Nederlandsche’s interventions could not change so quickly.

The president also said it is important that inflation fears do not take root in the economy. For example, he warned of the wage-price spiral, in which producers go through an increase in wage costs in prices. Higher prices will in turn increase the demand for wages, as workers want to maintain their purchasing power.

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