A Dutch company is subject to 25% corporate tax ("vennootschapsbelasting") on its worldwide profits. Certain items of income, however, are exempt from tax and certain costs are non-deductible.

Bill Ackman is planning to file for an IPO of a new fund on the Amsterdam Stock Exchange, to be called Pershing Square Holdings. The fund has already raised more than $1.5B in commitments from European pension funds, as well as U.S. hedge funds, and will allow for raising permanent capital that is not subject to investor redemptions. The new fund will be separate from Ackman's $13B Pershing Square Capital Management.
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While the idea for a public listing has been in the works for several years, Pershing Square has outperformed most other hedge funds this year, adding to its appeal. The firm has returned more than 30 percent to investors since the beginning of the year, doing significantly better than the Standard & Poor’s 500-stock index, which has gained more than 8 percent this year.