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TAX AND ACCOUNTING

The Netherlands has a progressive tax scale. The amount of tax deduction is proportional to income. Individuals are required to report their income once a year. Every year until 1st of May, you need to submit an annual tax declaration. It can be completed and submitted online or through the official app. If for some reason you fail to submit the tax report on time, you can request a six-month delay, at the end of this period you are obliged to report your income.

In the table below you can see the tax scales, which are valid in the Netherlands in 2018.

Scale

Taxable Income

Interest Rate

1.

Up to € 20.142

36,55%

2.

From € 20.143 up to € 33.994

40.85%

3.

From € 33.995 up to € 68.507

40.85%

4.

More than € 68.507

51,95%

The rules for submission of tax declaration for entrepreneurs and legal entities differ from that for private individuals. Entrepreneurs and legal entities are obliged, at least once in three months to submit quarterly reports or monthly reports depending on the company's turnover.

The Tax Inspection determines how often a new enterprise has to submit reports, of which the company will be informed in writing. At the end of the year, the company must prepare a financial report on the basis of which the annual declaration is prepared and submitted. The annual declaration is published in the Chamber of Commerce.

Our company provides a full range of accounting and tax services in the Netherlands for individuals and legal entities.

The tax rates in 2018 for businesses:

  • VAT-0%, 6%, 21% depending on the activity.
  • Income tax up to € 200 000 – 20%, more than € 200 000 – 25%.
  • Dividend tax 15%.
  • Enterprises falling into the innovation section (IT-box or innovatiebox) pay 7% of tax, instead of 5%.

Highly skilled migrants are entitled to a 30% tax credit, which allows them to save 30% of their income over five years, in accordance with the new amendments.




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