COVID-19 Tax provision

19 juni 2020 | Door:  Barry Scheer

Under certain conditions, it is possible to create a tax provision in the 2019 corporate income tax return for the expected COVID-19 related loss in tax year 2020. In short, the following conditions apply to create a COVID-19 tax provision in 2019:

Corporate income tax return

The COVID-19 tax provision will be included in the 2019 corporate income tax return. If the company already filed a 2019 tax return, a new tax return should be submitted, accompanied by a notice of objection (if the 2019 assessment has been imposed and the period for appeal applies (6 weeks)) or a request for reduction of the 2019 taxable amount if the period for appeal has expired.

Source: Dutch tax authorities