The coronavirus and your company: tax measures

19 maart 2020 | Door:  Barry Scheer

The Dutch tax authorities offers companies these options to help them cope with the effects of the Coronavirus:

Special payment extension

Companies can file a request to the Dutch tax authorities for a special payment extension for personal income tax, corporate income tax, VAT and payroll tax. Companies have to submit a written request that the company apply for a payment extension and explain how the Coronavirus has caused financial problems.

The Dutch tax authorities gives a three-month extension of payment without further conditions. If companies need more than three months extension of payment, the Dutch tax authorities will ask for a statement from a third party. Companies should enclose a statement from a third party expert. This statement confirms that:

• The request serves to cope with existing payment problems;
• The payment problems are of a temporary nature;
• The payment problems will be resolved by a certain date;
• The company is viable.

Reduction of provisional tax assessments

If companies expect lower profits (or losses) due to the Coronavirus, and they are currently paying  provisional tax assessments for personal income tax or corporate income tax on a monthly basis, changing the provisional tax assessments is a serious option to consider due to the reduced expectations.

Unemployment benefit 

The Coronavirus is not a normal business risk. If there is (temporarily) less work for the employees, companies can apply for an unemployment benefit during short-time working. Please read this article about this subject. 

Guarantee for SME loans (BMKB)

SMEs with liquidity problems due to the effects of the Coronavirus can temporarily count on extra favorable conditions under the BMKB. A new temporary measure increases the size of the surety loan in the BMKB. The measure is intended for a bridge loan or increasing the current account credit with a financier (often a bank), with a maximum term of 2 years. A number of other conditions in the BMKB will also be mitigated.