Today, the Dutch cabinet announced substantial precautionary measures in support of businesses and employment. These measure are aimed at mitigating economic damage due to efforts controlling the current pandemic. The highlights are mentioned below.
1. Temporary rebate in employment expenses
This measure is designed to sustain employment by supporting employers financially in the cost of employment. If your revenue drops by more than 20 percent in the period 1 March to 1 June, you may be eligible for a rebate of up to 90 percent in your employer’s expenses. A provisional rebate of up to 80% will be paid for by the UWV. Read more.
2. Income support for small business owners and sole-traders
Small business owners and sole-trader affected by the measures related to the coronavirus could receive an allowance to top up their income to the Dutch social welfare level. This measure is also effective for the period 1 March to 1 June, initially. Allowances paid will not need to be refunded. Read more.
3. Extension of tax payment due dates and reduced charges
Business owners and sole trader can apply for an extension of their tax payment due date. This measures applies to any type of tax (wage tax, VAT, profit tax, income tax). Late payment fees and interest charges will be waived by the Dutch tax office during this period. Read more.
4. Expansion of fund Garantie Ondernemersfinanciering
Businesses struggling to obtain a loan guarantee for a bank loan may apply for the Garantie Ondernemersfinanciering. The ceiling for loan guarantees is temporarily raised to EUR 150 M.
5. One-time cash payment of EUR 4,000 for business owners
A one-time cash payment of EUR 4,000 will be provided to business owners experiencing a sudden revenue loss due the current crisis. Read more.
6. Childcare expenses fully reimbursed
During the childcare restriction period from 16 March to 6 April, parents are fully reimbursed for their childcare expenses by the Dutch tax office and their childcare provider. Read more.
Please note that the Dutch Ministries are currently working on the implementation of these measures. Detailed guidelines and instructions will be issued shortly. We’ll update this page when more details are released.
25 March, 2020