If you own a business in the Netherlands or are considering starting one, accurate financial reporting is essential for achieving success. Whether your business is newly established and you are still getting used to the Dutch corporate tax system, or you are preparing to make a significant decision for its future, keeping good accounts of your business is very important. It serves as the foundation of a thriving business and is crucial for informed decision-making. Here are a few reasons why to hire a Dutch accountant:
The certainty of correct reports & (interim) accounting reports.
For every business in the Netherlands, annually a financial report will have to be made with all the accounting details. This information will be processed in your (corporate) income tax return, depending on the business form. These details are also very useful: it enables you to have a good view of the way your business is heading. It also helps you make right important decisions when you have accurate financial information.
The need of professional business advice as to the opportunities and improvements of your business.
This can only be done, once more, with correct financial accounts! We are happy to advise you on the structure of your business and also look at the international tax laws if needed, as not only the Dutch tax law is relevant for international companies. Are you moving your business to the Netherlands? Seek advice on time, as the timing of the move can be important.
If you don’t know the Dutch corporate system well enough.
We will be happy to advise you and guide you through. We will look at your business and try and structure everything as favourable as possible and reducing your tax burden as much as possible. We will make sure you do not overlook anything, and will not miss any tax opportunities.
If you have a BV in the Netherlands.
There will be some extra requirements, which we will be happy to take care of for you, such as submitting the (corporate) income tax return to the Dutch chamber of Commerce (KvK).
You can focus on running your business
The accounts and financial matters are often not the favourite activity of business owners and entrepreneurs. If you have the peace of mind that your accounts and financial matters are in good hands, you can focus on the business itself and doing what you are good at. We can assure you that we will do the utmost to ensure that your accounts and financial matters are taken care of in the best possible way.
Here are some other corporate tax changes and tips for you.
Do you expect to pay tax for the tax year 2024? If you request a provisional assessment in good time, this will save you legal interest. The tax rate for income tax entrepreneurs is currently 7.5% and for Corporate Tax the rate is 10%.
Did you find out that you forgot to include some items in your VAT return? Then consider to submit a supplement declaration. You can do this for this year or for the past 5 years. If it concerns VAT to be received or remitted of € 1,000 or less, this may be included in the next VAT return without a correction for the previous period.
Do you drive a company car and do you use this car privately? In that case, a correction must be made for private use in the last VAT return (to be submitted in January 2025). This may be based on actual use or on the basis of a fixed rate. Do you have questions about this? We are happy to help you.
If, as a business owner, you have made sufficient investments to qualify for the small-scale investment deduction, but have not yet paid all investments, we advise you to make these payments before the end of the year so that you are eligible for the small-scale investment deduction. You are eligible for the small-scale investment deduction when the total investment is higher than € 2.600.–.
Has your partner worked in your business this year but has not received compensation yet? Then consider paying compensation before the end of the year. This is deductible in your business. For your partner, this reimbursement is taxable in box 1. The rate depends on your partner’s total Box 1 income and is especially advantageous if your partner has a low income.
From 1 January 2025, the BPM exemption for company vans will be abolished. However, the BPM exemption will continue to apply to emission-free vans.
Do you expect your annual turnover to remain below € 20.000 in the coming years? And do you wish to participate in the small business VAT exemption arrangement (KOR)? Then make sure you have registered this with the Tax Office before December 3rd next. Entrepreneurs who apply for the KOR are exempt from VAT and have fewer administrative obligations. For instance, they usually don not have to file a VAT return. However, the KOR can also be disadvantageous, as for instance, entrepreneurs with the KOR cannot deduct VAT on expenses.
If you have turnover taxable in another EU country for VAT, you may be able to qualify for a similar VAT exemption arrangement in. The regulations change as per 1-1-2025 in order to unify the schemes in various countries. An important condition is that the EU-wide annual turnover must remain below the €100.000 limit. For more information about the regulations, please contact our office.
We would like to make you aware of the possibility under the Dutch Wages Tax Act to make a payment on a tax free basis for certain reimbursements which normally would be regarded as taxable income. This year this tax free scheme (‘vrije ruimte’) is maximised at 1,92% of the total company wages up to € 400.000,– and 1,18% beyond that. If you have not paid any other reimbursements or benefit of any kind to employees including directors which could be regarded as taxable wage, you could still make use of this scheme by paying out a tax free bonus as long as this is usual. A maximum amount of € 2.400 would be regarded as usual. For 2025 the percentage is increased to 2% of the company wage to € 400.000.
The tax-free travel allowance of € 0,23 remains the same in 2025. Because many people have been working from home since the corona crisis (and this indirectly costs the employee money; more energy consumption, coffee consumption, etc.), the cabinet has decided to introduce a tax-free working from home allowance. As a result, employers can reimburse a maximum of € 2,36 per day in or part of a day worked in 2024 (€ 2,40 in 2025). The allowances cannot be paid at the same time; per day you can either opt for payment of the work from home allowance, or payment of the travel allowance.
An employer can provide a tax-free allowance for setting up a home workplace. The employer can reimburse the costs for, for example, an office chair or computer screen via other specific exemptions from the work-related costs scheme.
It was the intention of this cabinet to halve the benefit of the charitable donations deduction. The 2025 Tax Plan therefore scrapped the gift deduction in corporate income tax. However, as a result of an adopted amendment, the gift tax deduction remains in place for gifts under € 100.000 and up to a maximum of 50% of the profit. Since personal tax deductions are limited to the lowest bracket, it may be more favourable to make donations from the BV. Moreover, there is no threshold for deduction BV as opposed to personal giving. Let us know if you have any questions on this subject.
The self-employed deduction has been phasing out since 2020. From 2023, this is happening in an accelerated fashion. The plan is to gradually reduce the self-employed deduction by € 1.280 a year, to € 900 in 2027. In 2024, the maximum self-employed deduction was € 3.750, in 2025 this will be € 2.470. In 2025 the SME profit exemption will be reduced from 13,31% to 12,7%.
The possibility to borrow from one’s own BV has been restricted as of 2023, with the taking effect of the Excessive Borrowing from Own Company Act(wet excessief lenen). If a shareholder borrows more than € 500.000 from his or her own BV, the excess will be taxed in box 2 (once). Last year the amount was €700.000, but as per reference date of 31 December 2024 this has been reduced to € 500.000. First home equity debts do not count towards the € 500.000 limit if they are covered by a notarial mortgage deed (a mortgage deed is not required for home equity debts existing as of 31 December 2022). In the case of high loans or overdrafts, it is important to anticipate this and consider repayments before the end of the year, or reserve money for the tax settlement. Specific rules also apply in partner situations. Is your debt to the BV higher than € 500.000? Contact our office to discuss the possibilities and consequences.
In 2024 a two bracket tax rate was introduced in box 2. This concerns income from substantial interest, such as dividends and capital gains on shareholdings above 5%. The rate in 2025 will be 24,5% for the first € 67.000 and 31% for the amount above that. Since this applies per partner, a total of € 134.000 can be taxed at the low rate in case of fiscal partnership.
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