17 April 2012, WTC Amsterdam

1. 17 April 2012, WTC Amsterdam TheExpatcenter Meets Audit | Tax | Advisory

2. Who are Crowe Horwath Netherlands • Dutch member firm of Crowe Horwath International. Worldwide located in 107 countries with more than 140 independent member firms operating from 400 offices around the world, operating in de field of Audit, Tax and Advisory • 3 offices in Amsterdam, Rotterdam and Nijmegen with 120 staff in total • Crowe Horwath covers the most important economic areas of the country from these offices • Crowe Horwath assist clients, e.g. individuals, entrepreneurs and not-for-profit organisations, in both operational and strategic matters

3. Audit Tax Advisory Audit Accounting (International) Tax Advice Compliance & Payroll Services Legal Corporate Finance • Services: • Audit • Compilation of annual accounts • Advice on reorganization • Accounting assistance • Pay-roll services • HR management • Credit application • Accounting systems • Services: • Mergers & Acquisition • Transaction support • Valuation • Employment contracts • Legal contracts • Corporate governance issues • Director’s Liability • Services: • Expat services • Tax returns • Appeal procedures • Business succession and restructuring • Corporate structuring • VAT compliance and planning • Optimization cross border interest, dividend and royalty payments • Transfer pricing

4. Tax Tax services: • Tax compliance and filing • International corporate structuring • Finance and ownership of real estate worldwide • Transfer pricing • VAT advice on cross border transactions • Representation in Tax litigation • Payroll services • Expatriate and migrant planning

5. Personal income tax & employment concerns Dutch Personal income tax rates (2012) Income (€) Tax Rate Up to 18,945* 33.10% 18,945 to 33,863* 41.95% 33,863 to 56,491 42.00% € 56,491 and above 52.00% * Includes 31.15% as Social Insurance Tax ►Expats may qualify for a special tax ruling by which 30% of their employment income can be paid tax free to compensate them for specific expatriate costs (referred to as “extraterritorial costs”). This so-called 30% ruling effectively reduces the top rate of 52% to 36.4%

6. 30% Ruling – Conditions as from 1 Jan. 2012 • Non-resident employee is hired abroad by a Dutch resident employer; • Employee must have specific expertise scarcely available on Dutch labour market; • Specific expertise is deemed to be met at salary level of more than EUR 35,000 (EUR 50,000 including “extraterritorial costs”). For individuals (< 30 years of age) holding a Masters degree, the minimum salary requirement is EUR 26.605 (EUR 38,007 including “extraterritorial costs”); • Incoming employees must have lived more than 150 km from the Dutch border before the work in the Netherlands commences; • Maximum ‘granting’ period of 8 years. Periods of prior employment or stay in the Netherlands of less than 25 years before the (new) assignment to the Netherlands (“reference period”) will reduce duration of the ruling.

7. 30% Ruling – transitional rules • Maximum granting period of 8 years and the new reference period of 25 years will only apply for new applications as from 1 January 2012; • If the 30% ruling regime is granted after January 1, 2007 (but before 1 January 2012), the old conditions apply for a period of 5 years. As from year 6, the new minimum salary condition applies; • Furthermore, the employee should not be living within 150 km from the Dutch border at the start of their employment.

8. Knowledge migrant (“kennismigrant”) regulation • A knowledge migrant is a foreign (non-EU) individual employed or seconded to a company in the Netherlands for a minimum period of 3 months. A knowledge migrant earns an annual gross salary of at least € 51,239 (or € 37,575 if the individual is younger than 30 years). • Certain groups of knowledge migrants will be deemed to have specific expertise to qualify for the 30% ruling. • As a knowledge migrant your employer does not have to apply for a separate work permit. Having a residence permit as a knowledge migrant allows a foreign individual to legally work and reside in the Netherlands for a specific period of time.

9. Dutch social security system • All residents are insured under national insurance schemes (“volksverzekeringen”) covering old age, death, long term invalidity, certain medical expenses and child benefit. • Employees are insured against illness, long-term invalidity and unemployment (“werknemersverzekeringen”). • Mandatory coverage by the Dutch healthcare system (Health Insurance Act - ZvW) for foreign nationals living and/or working in the Netherlands. • Basic premium approximately € 1,400 per annum. • Additional insurance possible for dentist, physiotherapist, etc.

10. Why doing business with Crowe Horwath Netherlands • Direct and effective communication lines with professionals all over the world • Crowe Horwath has experience with consultancy service providers and non-profit organisations • Worldwide The alternative for the Big 4 • High quality service at competitive rates • No-nonsense mentality • Crowe Horwath in The Netherlands is a full-service company including, accountancy/assurance, tax, corporate finance, legal services, expat and payroll services.

11. Contact Amsterdam Rotterdam Nijmegen P.O. Box 74175 P.O. Box 4308 P.O. Box 451 1070 BD Amsterdam 3006 AH Rotterdam 6500 AL Nijmegen T: +31 20 - 426 06 00 T: +31 10 - 266 15 00 T: +31 24 - 372 54 00 F: +31 20 - 426 06 99 F: +31 10 - 266 15 99 F: +31 24 - 372 54 99 info@crowehorwath.nlwww.crowehorwath.nl • Hans de Kruijs, Expat Services • E-mail: hans.dekruijs@crowehorwath.nl • Abdel Ikajouan, Payroll Services • E-mail: abdel.ikajouan@crowehorwath.nl