The Dutch Ministry of Finance released for public consultation the draft Decree on Dutch Classification Rules for Foreign Entities. The Decree is proposed to apply from 1 January 2025 subject to transitional rules. The Netherlands applies a similarity approach as the main test for the classification of foreign entities. The test entails comparing the foreign entity to Dutch entities based on several characteristics (e.g. extent of liability, legal personality, relationship between entity and participants and between participants, governance structure, etc..) and classifying it by reference to the Dutch form to which it bears the closest resemblance. The draft Decree maintains...