Dealing with annual audit and tax filing requirements

The most important annual accounting requirements in the Netherlands are:

• Drafting your Financial Statements
• Filing your Corporate Income Tax Return
• Submitting your abbreviated statements to the Chamber of Commerce

By using accounting services in The Netherlands, you don’t have to worry about these formalities, and our Dutch accountants will fully take care of this work. Our Dutch accountants will not only ensure that your company complies with the Dutch accounting regulations, but they will also make sure that you will get good insights into the financial health and situation of your company. Bolder Launch uses the latest accounting software and technologies and provides you with an accounting dashboard that will allow you to get (annual) reports, providing access to all underlying invoices and expenses.

Our accounting and tax consultants can help companies of any size. From sole proprietorships to multinational companies, due to our competitive rates and efficient processes. Each company can easily upload its invoices and bank statements, or even take pictures of any bills via an App on your phone. From that point forward, all transactions are easily processed, and the accountant has to spend as little time as possible preparing your financial statements and submitting your Dutch corporate income tax return.

Why Dutch Accounting Services are important

Before you start your Netherlands company, it’s advised to have a good understanding of the Dutch tax laws; for example, if you will perform international business activities, you also have to know about audit requirements, substance requirements, intracommunity transactions and tax returns, as well as VAT for ABC transactions when you are dealing with suppliers. Equally important, you must understand the administrative requirements of incorporating a Dutch company. The exact requirements for Dutch companies depend on the size of the company, or its corporate structure (for example, if a Dutch company is part of a Listed Company). The financial report must contain at least:

• A balance sheet
• Profit and loss account
• Notes to the accounts.

Bolder Launch has published several articles about requirements that each entrepreneur should consider, such as:

1. The requirement, by company law, to prepare a Financial Report.
2. The legal requirement to annually file an (abbreviated) Financial Report at the Chamber of Commerce
3. Personal liabilities of the directors of a Dutch company, in case of non-compliance.

Before the corporate tax return can be filed, the following steps have to be completed:

1. Preparation of the financial statement;
2. Drafting the minutes of the Annual General Meeting to approve the financial statements;
3. The financial statement has to be signed by the directors of the company;
4. The minutes of the Annual General Meeting (AGM) have to be signed by the shareholders;
5. The signed financial statement has to be filed at the Chamber of Commerce;
6. Filing of the corporate income tax at the tax authorities.

In a separate article, we discuss how you can benefit from tax schemes and file for tax returns when you make charitable donations as a legal entity.

Every Dutch B.V. should prepare Financial Statements. If your company has been operational, it’s important to consider:

• information on underlying subsidiaries must be provided
• In case of any (intragroup) loans, proper loan agreements must be in place (and interest should be applicable)
• (purchased) Assets with a value over 450 EUR will be activated on the balance (extra tax incentive is available)
• Abbreviations on assets must be explained

Please contact our Dutch accountants for a free consultation, so we can prepare the final quote to move forward.

This guide is part of Taxation & Accounting in our Launch Guide.