3 annual filing requirements for a Dutch B.V.

Filing Annual Accounts: Dutch BV Taxation

Registering your business in the Netherlands isn’t the end of the process, you’ll need to take care of the financial aspects of your new company. That means handling the Dutch BV Taxation and annual accounts. When it comes to that, we’re here to help!

Handling Dutch Business Annual Accounts

Once you’ve registered your Dutch BV with the Chamber of Commerce, it is the company director’s responsibility to file an annual account each year.

The deadline to file is within 12 months after the financial year-end.  

Annual accounts have to be approved by company directors, then adopted by the shareholders on a yearly basis. Once these have been adopted by the shareholders, the accounts must be submitted to the Chamber of Commerce within eight days. 

If for some reason you are not able to file the accounts within the required timeframe, you are responsible for filing a provisional account until the final accounts are ready.  

Corporate Income Tax 

Dutch company law mandates that your new B.V. or N.V. needs to file corporate income taxes within six months of the financial year-end. The Netherlands business tax rate depends on how much business you do in the year:

  • If your taxable profit is less than €200,000 in 2020, then your tax rate is 16.5%
  • If your taxable profit is more than €200,000 in 2020, your tax rate is 25%

Another enticing reason to expand to the Netherlands is because for the past few years the Netherlands company tax rate has been reduced each year. In 2019, the tax rate for businesses that have a profit less than €200,000 was 19%.

While the tax rate for businesses that make more than a €200,000 profit has remained at the 25% rate, the reduced tax rates are optimal for start up businesses. It’s suspected that the business tax Netherlands rate for business with a profit less than €200,000 will be reduced to 15% in 2021. Additionally, the tax rate for businesses with a taxable profit is more than €200,000 could also be reduced to 21.7%.

Netherlands VAT: Value Added Tax

Businesses are subject to a Netherlands VAT, this is also known as a “BTW” in Dutch. The value added tax in the Netherlands is a consumer tax. In essence, it is the end user that bears the tax. If your company is registered with VAT, you do not need to pay the VAT for all of the goods and services that you pay for the operation of your company.

The standard VAT Netherlands rate for the majority of goods and services is 21%. You are required to file your VAT return within 30 days from the end of the Quarter. For Q1 which runs from January to March, the deadline for filing a VAT return is April 30. You are required to file a return even if it’s for nothing.

Invoicing VAT to Clients and Customers

When you issue invoices you need to share your Netherlands VAT number on your invoice. And when you receive VAT payments from clients and customers, you need to set aside the VAT amount because it needs to be paid back to the tax authorities.

Paying VAT to Suppliers

When you get a bill from a supplier, you need to receive an invoice that shows their VAT number. As a company registered with a Dutch VAT, any VAT you pay upfront will be refunded by the Dutch tax authorities. When you’re given a VAT number from a supplier, you should double-check that it’s valid by visiting the VIES VAT number validation website.

Reconciling VAT

At the end of every quarter, you need to make sure to file your VAT on time to ensure that you get back the money you spent on VAT or pay back the extra. This is how the VAT Works: 

If the amount of VAT that you received from your client invoices is more than the amount that you paid for the supplier invoices, you need to pay the difference to the tax authority. But if the amount you paid for the supplier invoices are more than what you received from your clients invoices, you will be subject to a refund from the tax authority. 

 


Your Financial Team In The Netherlands

We know that the financial aspects of your business can seem overwhelming, especially when you’re dealing with a new country’s laws. But fear not, we know what we’re doing!

We can take care of all of your annual compliance needs from bookkeeping and handling your quarterly VAT returns to filing your annual accounts documentation and completing your corporate income tax return. That way you have nothing to worry about!

We provide quality services to our clients and are happy to respond to requests and enquiries within 48-hours. Contact us today


Our Process:

  1. Choose your package below;
  2. Provide us with the necessary documents;
  3. We connect our accounting software to your bank accounts;
  4. Voila, all done!


Pricing

There are no hidden fees and you can cancel at any time. 

Start up companies
€ 1,300 per year + VAT (save €100)
Price per quarter € 350
20 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 
Medium size firms
€ 1,500 per year + VAT (save €180)
Price per quarter € 420
20 – 80 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 
Large size companies
€2,200 per year + VAT (save €280)
Price per quarter € 480
80-140 transactions per month
prepare VAT return
prepare annual account
filing annual account at KVK
prepare Corporate Income tax
Minutes approving annual account
 

Need something else? Check out our other services:

  • VAT registration 
  • Deal with VAT refund to a destinated bank accounts
  • Dealing with incoming mails
  • Virtual office 
  • How to use internet banking
  • Open a bank account 

Dutch BV Taxation FAQs

What are the Dutch BV taxation rates?

In 2020, the Dutch company tax rates are as follows:

If your taxable profit is less than €200,000 in 2020, then your tax rate is 16.5%.

If your taxable profit is more than €200,000 in 2020, your tax rate is 25%.

What is the Netherlands VAT?

The Netherlands Value Added Tax is a consumer tax. In essence, it is the end user that bears the tax.

Does my business need to pay the Netherlands VAT?

If your company is registered with a Netherlands VAT, you do not need to pay the VAT for all of the goods and services that you pay for the operation of your company.

Share this Post

How to find the best bookkeeper or accountant in Amsterdam?

How to find the best bookkeeper or accountant in Amsterdam?

Delegating bookkeeping requires a lot of trust and confidence in the person handling your business’s most sacred information. Finding a good bookkeeper (boekhouder in dutch) or accountant in Amsterdam is often time-consuming and frustrating; the fee varies depending on the experience and qualification of the bookkeeper/accountant.

Are you wondering how you will find the best bookkeeper in Amsterdam? Worry not because we can help you!!!

Our experienced bookkeeper/accountant will assist with keeping track of transactions in and out of the firm. That means the bookkeeper will handle all the invoices, receipts, bank transfers, and all the bookkeeping and administration required by a Dutch B.V.

What should I expect of the quality of a bookkeeper and accountant?

If you are looking for the right bookkeeper for Dutch B.V., don’t always look for the cheap one, look for the efficient accountants, the one who will stick to the deadlines, the one that would think together with you, the one who will help you solve your problems and accelerates your business goals achievement in the Netherlands.

It is very important to take your time, do due diligence to assess the competence of bookkeepers. The most qualified bookkeepers for the book are those with the right level of education, high level of experience and who have patience and passion with their jobs.

Some bookkeepers will only commit to the bookkeeping and let you run your business as you wish; however, the best ones will help you analyze the outcomes from your business and help you with the decisions.

Directors’ responsibility

A director has the full responsibility of the administration and the compliance of a Dutch company, you cannot blame your bookkeeper while the director has signed off whatever documents filed at the public domain or with the tax authority. Therefore, it is important to check everything keenly to ensure all the details in the records are in order.

Can you imagine having to pay penalties due to your bookkeeper’s errors just because you never took enough time to find the right one?

Being in business is itself a big risk. Therefore the bookkeeper should save you the agony of having to face more risks that can be handled without conflicting with the owner’s interest.
However, we have some good news for you. There are still many qualified and experienced people out there offering quality bookkeeping services. We consider ourselves among one of them because of the below reasons:

1. Our commitments to our clients
2. We have the right qualification
3. We have many years practical working experience
4. Our passions of what we do
5. Our patience towards our clients
6. Our can-do attitude
7. Our solving problem mindset
8. We are extremely services orientated
9. We think together with our clients.

To save your time to screen through all the service providers in the market, go on and contact us for a non-commitment fee quote today,

What we offer?

We offer and provide the full administration and bookkeeping services.
We serve all start-up and small and medium sides business entities. Our accounting service cover the full compliance which is required for a Dutch B.V. It includes;

• Bookkeeping;
• Preparing and submitting quarterly VAT returns;
• Preparing and submitting annual accounts at the KVK
• Preparing and submitting Corporate income tax return

You can also send us an email at info@dutchbusinessincorporation.com

Bookkeeper FAQs

How to find a good bookkeeper in Amsterdam?

Our experienced bookkeeper/accountant will assist with keeping track of transactions in and out of the firm. That means the bookkeeper will handle all the invoices, receipts, bank transfers, and all the bookkeeping and administration required by a Dutch B.V.

What should I expect of the quality of a bookkeeper?

If you are looking for the right bookkeeper for Dutch B.V., don’t always look for the cheap one, look for the efficient accountants, the one who will stick to the deadlines, the one that would think together with you, the one who will help you solve your problems and accelerates your business goals achievement in the Netherlands.

Do you offer bookkeeping services in Amsterdam?

Yes, we offer and provide full administration and bookkeeping services. We serve all start-up and small and medium sides business entities.

Share this Post

Show Buttons
Hide Buttons
Free Email Updates
Get the latest content first.
We respect your privacy.