During the Corona outbreak taxes may be an extra burden. In this item a few highlights are covered.
The Dutch Tax Authorities (“DTA”) provide for the opportunity to request for a special tax payment deferment. This deferment may apply to almost all taxes: income taxes, corporate income taxes, value added taxes (VAT) and wage taxes due.
Once requested a tax fine imposed by the DTA because of a late payment of taxes will be revised or aborted. This is also the case for any tax collection procedures. However do note that a fine because of a late tax filing will not be corrected. To the aforementioned there are few restrictions applicable (such as that you have to prove that the nature of late payment is temporarily). Reach out to us in case you think you will not be able to pay your taxes in time because of a special reason, such as the anti-Corona measures by the Government to close your business.
Should you think that your business results will indeed be affected, let us reduce your preliminary tax returns (income or corporate income taxes) timely. This may provide for some breathing space.
At the end of the year, and if you expect a loss for the book year, request for a loss settlement, for example by a carry back with 2019 profits.
Inform us timely if you expect that some debtors will not be able to pay. Should it indeed turn out that your debtors cannot pay your fees, a (partly) VAT refund from the DTA may be possible.
For employers there are additional attention points from an HR perspective. Reach out to us if you wish to double check any possibilities. Should the measurements from the government will be extended, it may also be useful to double check your employment contracts (e.g. regarding net payments in case no travelling takes place).