27 May 2020

Additional Dutch COVID-19 support measures

On May 20, 2020 the Dutch government sent a letter to Dutch parliament with details on a second COVID-19 support package. The measures from this letter are aimed to provide continuous support to companies and employees that are economically impacted...
27 May 2020

The corona reserve and corona provision

Recently the government has announced a new measure that allows for the possibility to carry back an expected tax loss for 2020 by creating a ‘corona reserve’ in 2019. This is an interesting new measure although it is subject to certain restrictions...
12 May 2020

GRC COVID-19 Update - May 12th, 2020

A little more than two months ago COVID-19 hit the world stronger than we ever expected. The world has changed forever. In this newsletter we provide an overview of the latest developments in the financial sector around dealing with COVID-19 and its...
11 May 2020

News Update on DAC6 Developments

On Friday May 8, 2020, the European Commission has shared its formal proposal to extend the filing deadlines under DAC6.
8 May 2020

Compensation scheme for transition allowance in the event of long-term incapacity for work, effective from 1 April 2020

With effect from 1 April 2020, employers may apply with the UWV for compensation for the transition allowances they have paid to employees who have been incapacitated for work for more than two years and whose employment contract has been terminated...
25 April 2020

New Dutch tax measures related to the COVID-19 crisis

By letter of April 24, 2020, the Dutch Secretary of State for Finance announced six new tax measures related to the COVID-19 crisis. The details of the measures will be further elaborated by the government. The measures are intended to take effect...
16 April 2020

Increased possibilities for VAT recovery based on actual usage

The Den Bosch Court of Appeal recently decided on the degree of VAT recovery, whereby institutions such as banks, healthcare institutions and educational establishments may be able to deduct more input VAT. In practice, this could lead to...
10 April 2020

Claim your 2019 EU VAT refund

Has your non-EU business incurred VAT in Europe in 2019? If so, you may be able to recover the VAT by applying for a refund — provided you comply with the rules. In general, claims by non-EU businesses must be submitted within six months after the...
9 April 2020

Family business suffers from coronacrisis but remains optimistic

The 270,000 Dutch family businesses, like many other companies, have been struck hard by the coronacrisis. The family businesses expect an average turnover loss in April 2020 of 40% compared to April 2019. Already 22% of last year’s profitable...
2 April 2020

Addressing financial impact of Covid-19

Public policy measures put in place to contain the spread of Covid-19 are resulting in significant operational and financial disruption for companies. Staff quarantine, supply chain failures and sudden declining demand from customers are causing...
2 April 2020

COVID-19 related (Regulatory) Updates - April 2, 2020

The COVID-19 virus (corona) leads globally to substantial concerns and has huge impact on the daily business. In many nations a (semi or total) lockdown situation has been implemented or is expected in due course. The current situation impacts...
1 April 2020

Details temporary arrangement compensation labor costs rules are published

It was announced recently that the ‘temporary arrangement compensation labor costs’ (“NOW”) will replace the ‘part time unemployment benefits measure’ which was terminated. The NOW legislation and additional guidance has been published on March 31,...