Netherlands Announces Tax Measures To Mitigate COVID-19

17/03/2020

The Dutch Government will allow taxpayers to defer payments of certain taxes under a new package of coronavirus economic relief measures.

According to a letter presented to parliament by the Ministry of Finance, the package provides an option for those in business with liquidity problems to request a special deferral of income tax, corporate tax, value-added tax, and wage tax.

The Tax and Customs Administration will grant tax payment deferment requests if taxpayers submit a written statement declaring that they are suffering liquidity problems due to the coronavirus. The tax administration will also defray penalties and assessments for taxpayers granted an extension to pay.

Additionally, the tax administration will permit taxpayers to reduce advanced income and corporate tax payments if they expect their 2020 earnings to fall as a result of the coronavirus.

Source: Pride Partners International