It’s that time again: the Dutch tax return for 2023 can be filed again! For many expats residing in the Netherlands, completing their tax return seems an easy job, due to the pre-filled data in the tax return. However, these pre-filled data are often incomplete or even incorrect. It is important to always check these thoroughly and change or adapt the details if necessary. Here are some key points to keep in mind for your tax return 2023 Netherlands.

International

For example, if you have assets abroad, there is a possibility that this information is not included in the pre-filled return. Or perhaps you lived abroad for a part of 2023. In this case, an M-form must be completed. It is easy to overlook tax benefits and optimisation opportunities in this tax return. Did you have a foreign employer and did you travel back and forth for your job? Then it is important to ensure that the 183-day rule is correctly applied in your situation and that you do not pay double tax.

Especially if you have international aspects in your situation, it is wise to have a tax advisor take care of the tax return 2023 who has experience with cross-border situations.

Tax interest rate increased

Whether you have international aspects to your tax return or not; it is wise to request a provisional assessment if you are expecting to pay a large due amount. This prevents tax interest being due; this is particularly important because a high tax interest rate of 7,5% will apply as of July 1^st 2024.

We can assist you and request a provisional assessment on your behalf.

Foreign bank accounts in pre-filled returns

Is there a foreign account visible in your pre-filled return? The balance of foreign accounts is usually not visible in pre-filled returns. If an amount was present in the account in the last 12 years and this has not been included in your box 3 assets previously, it is wise to correct this on your own initiative. If you do not declare foreign assets, you risk a fine that can amount to 300%. Contact us and describe your situation – we will be happy to help.

Minimize wealth tax Netherlands

Once your 30% ruling terminates, you’ll be subject to regular Dutch taxation on your global wealth (Box 3 tax), which means declaring it correctly in your tax return is necessary, to avoid hefty penalties.

30 % ruling and forgot to opt for non-domestic taxation?

If you have the 30% ruling as an expat in the Netherlands, then you don’t need to declare your foreign assets. However, there have been some changes as to the 30%-ruling. This favourable ruling has been further restricted, being decided just before the elections end of last year.

The partial non-resident tax liability in combination with the 30% ruling is no longer possible. Existing 30% rulings are subject to transitional provisions, allowing the partial non-resident tax liability to remain possible until 2026. Additionally, the percentage of income benefit is being phased out. Starting from January 1^st 2024, for 20 months, 30% of the salary remains tax-free. For the subsequent 20 months, a percentage of 20% is tax-free, and for the following 20 months, 10% is tax-free. For existing cases as of January 1, 2024, the old rule remains in force for the entire duration.

Be ahead and contact us on time about your tax return 2023 Netherlands! Get in touch today.