Tax & Business | Moneywood

Tax & Business

ANBI Policy plan

Does your organization already have

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ANBI publication obligation

You must publish this information online to maintain your ANBI status

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ANBI status for foreign organisations

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ANBI status for religious organisations

If you manage, or are considering setting up a religious institution, there is a good chance that you have

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ANBI status: benefits and conditions

Does your organization have an

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Annuity: an honest overview of the advantages and disadvantages

If you are an entrepreneur and want to build up a pension, you have to arrange this yourself. The most common way is to do this through an annuity policy. You can arrange this through insurers, banks or investment institutions.

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Appearance expenses

Personal care costs

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Bicycle plan for employees? How it works.

Do you want to encourage your employees to cycle to work more often? As cycling is good for people and the environment the government has introduced certain fiscal and le

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Brexit agreement: the main changes as of 1 January 2021

Until the final moment before Brexit, it remained unclear if agreements would be made between the European Union and the United Kingdom that would facilitate a beneficial (trade) relationship.

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Brexit: consequences for export, import and transport

Brexit: consequences for export, import and transport

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Brexit: consequences for services

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Brexit: consequences for your employees in or from the UK

Are you an employer? And do you employ British nationals in an EU company or is your non-British staff working in the UK? Or will you exchange staff from or to the UK in the (foreseeable) future? Moneywood will explain what the consequences are in regard to Brexit.

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Budget day 2024: News for private citizens

The annual budget for the coming year was presented as is tradition in the Netherlands, on ‘Prince’s Day’.

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Bugdet day 2024: News for entrepreneurs

During the presentation of the new cabinet’s budget memorandum on ‘Prince’s Day’, various proposals for tax reforms were put forward once again for entrepreneurs.

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Business expense and tax deductible expenses

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Capital gains tax in The Netherlands: a short update

Last December the Dutch supreme Court decided that the levying of so-called ‘savings tax’ is contrary to the law. This Capital gains tax by the Tax Authorities had savers paying tax on a fictitious return on their assets, which was often (much) higher than the actual return.

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Car and Company: what taxations are there in the income tax and turnover tax?

In The Netherlands, entrepreneurs can choose to register their car as part of their business, if the car is –partially- used for work. If you do this, it has consequences for your tax declarations.

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Closing a foundation? Check the arrangements this requires

If you are closing a foundation in the Netherlands, you can do so quickly and easily: in cases were there are no assets, debts or personnel and company status, it can be arranged with a board decision and a deregistration at the Chamber of Commerce.

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Closing your sole proprietorship? Check the arrangements this requires.

Disappointing results, a new career, retirement, rising costs or a changing legal form: there are plenty of reasons to stop when you are self-employed. Whatever the reason, if you are closing your sole proprietorship, there is quite a bit involved.

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Common U.S. tax forms, all in one place

For ease and simplicity, on this page Moneywood has put together a list of the most common U.S tax return forms and financial declaration tools. Just click the links to get the most up to date versions.

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Company bicycles for entrepreneurs

Are you an entrepreneur paying income tax in the Netherlands, and would you like to cycle more often? As cycling is good for people and the environment, certain legal and fiscal benefits have been made av

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Company bike plan for employers & employees

Would you like to cycle to work (more often)? Or encourage your employees do this? Cycling is good for people and the environment, for these reasons certain fiscal and legal benefits have been made available by the government, to help stimulate an increase in bicycle usage.

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Company car and the Dutch payroll tax

As an entrepreneur, you can provide your staff with a company car. The employee then drives professionaly - and sometimes also privately - in a car that you have purchased and write off at your company. This use can have consequences for the wage tax return.

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Corona and Dutch payroll measures: 6x government support, director-major shareholder and payroll expenses

Due to Corona measures, in 2020 companies in The Netherlands received a total of 15 billion euro to compensate for payroll expenses. The Dutch research institute CBS (in Dutch) c

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Corona measures for entrepreneurs per October 1st 2020

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Corona regulations for entrepreneurs: what are you entitled to? (March - October 2020)

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Cost-equalization reserve

The cost equalization reserve (KER) is a fiscal reserve. With the KER you can spread large expenses that, for example, only come back once every ten years for tax accounting so that they do not weigh on the profit of the year in which the expense is made.

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Customary wage arrangement Director-major shareholder

The director-major shareholder has a special position within the company. The fiscal rules regarding the director-major shareholder differ from the other ‘usual’ employees. This can cause confusion.

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Deduction

Tax credits in income tax

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Doing business in the Netherlands

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Donation deduction

Are you making donations as a company or private individual to foundations or associations? You may be entitled to the donation deduction. Under certain conditions you can deduct that from your income, or (for entrepreneurs) on your profit.

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Dutch law: Deduction Research and Development (WBSO)

To improve product innovation, the Dutch government developed the Law Improvement Research and Development, or ‘WBSO’.

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Employees with wage garnishment?

As an employer, you prefer to see your company flourish. And you know how important the role of motivated and healthy staff is in this. However, financial problems can put your employee, and therefore your company, under considerable pressure.

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Entrepreneurship during lockdown: Support regulations per December 15th

The lockdown that was announced on the 14th of December has big consequences for many entrepreneurs. Prime minister Rutte promised that the Dutch government will meet their needs in the best way possible. But what does that mean in practise?

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FATCA: The Foreign Account Tax Compliance Act

If you’re a U.S. citizen living abroad or in the U.S and you hold substantial financial assets in overseas accounts or foreign entities, its important to stay up to date with the reporting requirements placed on you by the IRS and the U.S. treasury.

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FBAR (Foreign Bank Account Report): an overview

Are you a U.S. citizen and do your financial transactions cross U.S. borders? American legislation has measures that you may have to consider, but that you may not yet know (enough) about. One such measure is the Foreign Bank Account Report (FBAR).

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Fee declaration performing artists (Gageverklaring)

If you ever perform as an (amateur) artist, in The Netherlands it is customary that your client will withhold wage taxes over your payment and expense compensation. This happens through the fee declaration (in Dutch: gageverklaring).

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Financially healthy employees: A four-step plan for employers

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Fiscal benefits entrepreneurs in the income tax

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Fiscal benefits partnership tax

When you are paying partnership tax in the Netherlands, you may be entitled to deductibles and tax credits. This can always give you some interesting fiscal benefits.

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Fiscal Retirement Reserve (In Dutch Fiscale OudedagsReserve-FOR)

As an entrepreneur with a profit in income tax, you can choose to build up a fiscal retirement reserve.

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Fiscal unity for the Dutch VAT

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Fiscal unity in the corporation tax

In The Netherlands, Ltd.’s and public limited companies (bv’s and

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For clients; Hand-In Help Income Tax 2023

Are you a client of Moneywood? We designed the Hand-In Help below, for you. It outlines which information we need to file your Income Tax for you.

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Form 1040

Virtually all U.S. citizens are obliged to file a U.S. tax return, regardless of where in the world you currently live. The IRS (Inland revenue service) begins accepting federal tax returns from U.S. citizens in earnest, annually at the beginning of February. If you’re a U.S.

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GCC: The Dutch Governance Code Culture

Governance Code Culture (GCC)

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Gift Tax

In this text we will explain to you what a gift is, when you are supposed to pay gift tax in The Netherlands and what the exemptions are for gift taxes.

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Hand-in Help Application for ANBI status for a foreign organisation

In order to submit an

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Home office space: What do you need to pay attention to?

As an entrepreneur you will often (also) work from home. But not every entrepreneur knows about the fiscal benefits you are entitled to when you have a home office space.

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How to prevent paying tax interest to the Tax Authorities

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Important tips when hiring

If you want to continue growing as an entrepreneur, there will be a point where it is impossible to continue to do the work alone. Sometimes you can make do with just interns. If this no longer works anymore, the moment has arrived to hire an employee.

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Income Tax return, Dutch tax system

In the Dutch income tax, three types of taxable income are distinguished. These income types are classified into 3 so-called boxes:

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Investment deduction

KIA, EIA, MIA and VAMIL in short

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Invoicing and VAT

When you sell something to one of your clients, normally you will send an invoice. The Dutch government has set some demands on how you are oblidged to be invoicing.

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July 1st 2021: Changes payment VAT EU and the OSS

Since 2015 the Mini One-Stop Shop (MOSS) scheme has been enforced in the EU.

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Labour reward and cooperation deduction

Arrangements for cooperating partners

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Legal payment term shortened

Do you, as a self-employed person or SME, supply goods or services to a large company?

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Low-income benefit

To make it more attractive for employers in The Netherlands to hire and keep people with low wages, it is possible to get compensation for the wage costs of these employees. In this article you can read whether and how you qualify for this low-income benefit (LIV).

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New for entrepreneurs: Legislative changes as of 1 January 2024

On January 1, 2024, sixteen new laws/legislative changes will come into effect that may have consequences for your company's tax situation.

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Obligated to pay taxes abroad or domestically?

When you live and work in the Netherlands, normally you would have to pay taxes in the Netherlands. You are, like almost everyone living in the Netherlands, obligated to pay taxes domestically.

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One Stop Shop (OSS)

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Overview support measures corona fourth quarter 2021

Even though nobody was waiting for it, we saw new corona measures announced in November 2021, yet again. A small silver lining: because of these new measures, entrepreneurs were promised a support package to absorb the biggest financial blow.

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Paying taxes in the Netherlands

Are you considering doing business in, with or from the Netherlands? Then it is important to take note of the tax consequences of this.

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Payment reference VAT-declaration

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Receipts

When you are an entrepreneur and do business in The Netherlands, Dutch VAT (called btw) is deductible from your

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Recognizing the signs of spiraling debt problems and how to help

A friend asks if he can lend money. A family member does not pay back money he loaned. One of your employees’ wages are being seized. A client receives more and more payment reminders. This can all be signals that someone in your environment is dealing with problematic debts.

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Recovery interest

The Tax Authorities can bill for three different kinds of interest. With taxation up to 2011 you will have to deal with the tax interest. For more information click here. Starting from the tax year 2012, which enters into force the first of January 2013.

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Reduced VAT-tariff

The standard VAT-tariff in The Netherlands is 21%. As an entrepreneur you would assume that you have to charge 21% VAT on outgoing invoices and pay the same percentage VAT as preliminal taxes for your incoming invoices.

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Reduction Dutch AWf-premium for employers from August 2021

AWf-premium: general unemployment fund

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Reinvestment reserve

When you make a profit by selling a company asset, you can reserve this profit for future investments. An example of a company asset is a machine, computer or building.

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Rent allowance

If you have a rental property and you spend too much money on renting your house in relation to the income, you may be eligible for a supplement.

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Renting office space

Renting a new office space is usually an important step for entrepreneurs. After all, the location where you work, highly affects the way your company operates. You need your home base to be a solid foundation for your enterprise.

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Reverse-charging VAT

Do you make invoices for your clients? Then, normally VAT (in Dutch: btw) is included.

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Rising self-employment in the Netherlands

The Netherlands has seen a striking trend in recent decades, namely a significant increase in the number of self-employed people without personnel (zzp'ers).

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Special scheme for small undertakings 2020: From VAT limit to revenue limit

The tax decrease for the levy on VAT to the Tax Authorities will be abolished starting 2020. An entrepreneur that needs to pay less than €1.345 or €1.883 in VAT was allowed to keep that VAT (in part) until 2019.

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Tax facilities for the Self employed

Fiscal Provisions In the Netherlands, entrepreneurs who meet certain requirements are subject to some fiscal provisions. Zelfstandigenaftrek & Startersaftrek The requirements for the zelfstandigenaftrek & startersaftrek are:

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Tax plan citizens 2024: These changes are imminent for private individuals

The government is resigning, therefore there are no major surprises in the Tax Plan for 2024 presented on Budget Day. Nevertheless, there are plenty of resolutions that could have an impact on your financial situation.

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Tax Plan DGA 2024: 8 proposed measures

After a radical package of changes as a result of last years tax plan, you as a DGA (Director Major Shareholder) will have less involvement regarding fis

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Tax plan entrepreneurs 2024: Imminent changes

The government is resigning, therefore there are no major surprises for entrepreneurs in the Tax Plan for 2024 presented on Budget Day. Nevertheless, there are plenty of proposed changes that could have an impact on your tax-economic position.

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TEK closes on October 2: Don't forget to apply!

If you, as an SME, spent more than 7% of your revenue on energy in 2022, you may be entitled to TEK subsidy: a contribution to these costs. But don't wait too long. The application process closes on 2 October 2023.

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The 30%-ruling

The 30% ruling is a special cost reimbursement scheme in the wage tax. It is a contribution from the tax authorities for the extra costs that an employee incurs by working abroad.

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The Bbz benefit explained

Are you receiving social welfare benefits and would like to start your own business? Or are you an entrepreneur whose income falls below the level of social welfare assistance due to financial problems or the discontinuation of a business? Then you may be eligible for the Bbz benefit.

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The five pit falls of investment

Entrepreneurs often invest in matters like new staff, the purchase of new real estate, equipment and the remodeling or renovation of a building. Many entrepreneurs can risk falling in one or more of the five following pitfalls.

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The foundation: founding and (fiscal) organisation in The Netherlands

Maintaining cultural heritage, collecting funds for medical research or organizing a charity run. There are numerous ways in which people can give shape to idealistic goals. Are you one of those people and are you looking for an organisational form to realize your ideals?

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The start date of my enterprise

Are you looking to start your own enterprise? If you wait too long with registration at the Chamber of Commerce this can be disadvantageous. Do not wait too long and read below what you should take into account.

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The WAB: the balanced labour market legislation

The WAB legislation is a continuation of the previous law ‘Wet Werk en Zekerheid’ (legislation labour and security) that went into effect in 2015. The intended objective for that law has not been met.

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UBO-registration

Since July 2018, the prevention Law for Money Laundering and Funding of Terrorism (Wwft) has been in force.

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US expats: Filing Form 5471

Are you one the many enterprising U.S. expats that currently have their own business or company in the Netherlands?

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VAT on export: Dutch legislation

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VAT on import: Dutch legislation

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VAT rate dancing classes in The Netherlands

When you are a self-employed professional and teach dancing in The Netherlands, sometimes you have to invoice with VAT, and sometimes you invoice without. Whether you invoice VAT depends on the age of your students. Are they younger than 21 years old?

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VAT rate journalism in The Netherlands

Most of the work done by journalists is exempt from VAT. However, in some cases you, as a journalist, might do journalism-related work that is not legally acknowledged as a journalistic activity. For these activities, you will need to pay VAT.

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Wage cost benefit

Are you an employer in The Netherlands and do you hire employees with an occupational disability? Or do you opt for older employees? Then you may be able to make use of the wage cost benefits scheme (LKV).

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Wbtr: New rules for foundations and associations as of July 1st, 2021

As of July 1st, 2021 additional laws pertaining to the Management and Supervision of legal entities have come into effect. Regulations surrounding the management and supervision of foundations and associations will be equated with those of public limited companies and private companies.

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Why start a private LLC (Dutch: B.V.) and what do you need to do when starting?

You want to start a business and you are thinking about doing this in the form of a BV, or you have a sole proprietorship and want to convert this to a

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Youth LIV

If you employ employees between the ages of 18 and 21 or are considering hiring staff in this age category, you may be entitled to youth LIV: a compensation for wage costs.

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ZE zones: Exemptions, dispensation and subsidies

From 2025, 29 municipalities will set up zero-emission zones: vans and trucks will only be allowed to enter these areas if they are emission-free.

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Zero emission zones 2025: What do you need to know as an entrepreneur?

As of 2025, Dutch cities will start to introduce zero emission zones. Thus decided Dutch municipalities, parties from the transport sector and the Dutch State Secretary for infrastructure Veldhoven.

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