Now the Coronavirus literally reached The Netherlands and it is currently still unclear what the financial impact will be of this outbreak on the Dutch entrepreneurs, the Dutch government decided to take a few fiscal and economical measures to try to mitigate a bit of the financial pain.

One of the measures concern a request for an extension of payment of VAT, corporate income tax, wage tax and personal income tax debts. This request should be done in written and should include a clear link between the financial problems within your company and the Coronavirus. The request should be sent to your local tax unit. In first instance, the tax authorities will approve the extension. However, the request will be checked on the content in a later stage. Furthermore, no tax fines will be issued. Of course, this only applies if the entrepreneur does have financial problems caused by the Coronavirus. For the time being, tax returns should still be filed in time.

Another measure is that the tax authorities will process changes easier with respect to the 2020 provisional income tax assessments (corporate and/or income tax) and entrepreneurs should be able to apply for social assistance at their local authorities if they meet certain requirements.

Are you or do you think you will be in financial problems because of the impact of the Coronavirus and do you require a request for an extension of payment of certain taxes or would you like to discuss the (other) measures that have been taken, please feel free to contact Verberne Consultancy.