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.