Nick Crama

Managing Director
12+ years of experience in tax advisory services in the investment management industry
Expertise in tax matters related to the entire investment cycle
Amsterdam
@alvarezmarsal
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Nick Crama is a Managing Director with Alvarez & Marsal Tax in Amsterdam. 

Mr. Crama has more than 12 years of experience in tax advisory services in the investment management industry.

Mr. Crama has advised Dutch and foreign investment managers, asset managers, pension funds, insurance companies, banks, family offices, and real estate investment trusts, specializing in direct and indirect real estate, infrastructure, and debt investments. He has great knowledge of Dutch, Luxembourgian, and pan-European tax as it relates to structuring investment funds and transactions. Additionally, Mr. Crama works on tax matters related to the entire investment cycle, including transfer pricing, compliance, reporting, tax (risk) management, and vendor assistance.

Prior to joining A&M, Mr. Crama spent 10 years with Deloitte in Amsterdam. He used commercial and strategic thinking to assist clients with complex tax topics, including implementation of the EU Anti-Tax Avoidance Directive 2 (ATAD2) and Directive on Administrative Cooperation 6 (DAC6), as well as the growing importance of tax in the ESG imperative. He supported Dutch and pan-European investment management clients, assessing tax development impacts, restructuring when necessary, and implementing practical control measures to manage risks and ensure compliance.

Furthermore, Mr. Crama developed methodologies to shape and enhance tax fund due diligence and structuring processes. He was also part of the Dutch leadership team responsible for developing and implementing Deloitte’s overall strategy for the investment management industry and attracting and developing talent.

Mr. Crama earned a master’s degree in international and European tax law from the University of Amsterdam. He is a member of the Dutch Association of Tax Advisers.

Insights By This Professional

The “Monthly Recap” is A&M’s monthly newsletter providing a concise overview of EU and Dutch tax developments.
Tax opportunities can be unlocked by real estate fund managers when improving their investor tax onboarding process.
On Dutch Budget Day 2024 (17 September 2024), several tax measures were proposed as part of the 2025 Budget Day Tax Plans (Belastingplan 2025) which may impact real estate investors investing in or via the Netherlands. Most changes were already pre-announced and/or leaked over the past weeks, so there were no real surprises. The most notable missing measure is the tightening of the real estate transfer tax division exemption, which was expected following a public consultation earlier this year but is not included in the proposals.
Yesterday several tax measures were announced by the Dutch Ministry of Finance as part of the 2025 Budget Day Tax Plans which may impact the private equity industry.
Latest insights The latest insights from Nick Crama's team
Thought Leadership
In a landmark ruling, the Supreme Court has introduced the “commercial realizability” test to assess taxability in share substitution cases, holding that freely marketable shares with definite commercial value may give rise to taxable business income.