Experienced Dutch Accountants

• • audit services in the Netherlands – audit is a required procedure for Dutch companies hiring at least 50 employees or for businesses that have a turnover above EUR 6 million/year;
• • professional tax consultancy – preparation of the tax returns and assistance following the procedures established by the local tax institution;
• • payroll services – processing the monthly payroll documents, employment contracts, termination of employment contracts and others. Outsourcing the payroll in the Netherlands can bring various advantages to your company. Among them we mention that accounting and tax compliance will be made easier, the record of employees' personal and vacation time spent will also be available in the shortest time, as well as availability of a wide range of reports in accordance with your needs.
• • corporate tax compliance – the corporate tax in the Netherlands is applied on a progressive basis, depending on the company’s yearly taxable income.

• - organization, conducting and monitoring the accounting and legal documents;
• - full or partial outsourcing of the accounting department;
• - drawing up the periodic layout of the accounting balances, accounting journals and financial histories;
• - preparation of the balance sheet, income statement and notes;
• - review and correction of any accounting document;
• - analytical management accounting
• - both private and legal expertise regarding the accounting of the company, as well as the analysis of technical accounting procedures, the position and operation of the company in terms of creditworthiness, profitability and risk;
• - implementation of external audits (both contractual and statutory) that result in a complete diagnosis of the financial situation of your company and your accounts to third parties;
• - consolidation of small groups (SME 's and association's);
• - formatting and checking accounts of an inheritance, custody or provisional management;
• - advice on management and prognostication;
• - advice on strategic management (audit, evaluation, review of provisional accounts, management control from a strategic perspective).

Why Choose our Accountants in Netherlands

How can our Amsterdam accountants assist in VAT registration?

 

Our team of Dutch accountants can provide advice on how to register a company for VAT purposes in this country. Any business operating here is legally required to register for VAT and one of the main aspects available in this case is obtaining a VAT number. 

 

The VAT number is necessary for filing VAT returns, which are compulsory documents that have to be submitted by most of the companies that operate on the Dutch market. The VAT returns have to be filed with the Dutch Tax and Customs Administration and our accountants can assist with advice regarding the procedure. 

 

The VAT returns can be filed on a monthly, quarterly or yearly basis. However, there can be exemptions from filing the tax returns in the situation in which the activities developed by the company are not taxed for VAT purposes. Foreign companies that are performing taxable activities in the Netherlands are also required to file regular VAT returns.  

 

 

 

 

What are the VAT registration procedures in the Netherlands? 

 

A part of the accounting system in the Netherlands is represented by the VAT registration. Companies performing taxable activities in this country are required to register for VAT in specific conditions. This tax is also imposed to foreign companies selling goods or services in the Netherlands, and this includes online businesses as well.  If you need an Amsterdam accountant who can help you register your Dutch company for VAT, you can rely on one of our experts.

 

In the case of foreign businesses operating in the Netherlands that were registered in one of the countries that are members of the European Union (EU) and which sell their products through the internet to Dutch citizens, the VAT registration is mandatory once the company has sold goods with a value of minimum EUR 100,000 per year. 

 

Please note that in the case of foreign companies that reside outside the EU, it is legally required to appoint a Dutch fiscal representative; this regulation does not apply to the EU based businesses operating in the Netherlands; our team of Dutch accountants can offer more information with regards to this requirement. 

 

During the VAT registration, the company’s representatives are required to provide a set of documents in order to be legally registered for VAT purposes in this country and, in this sense, it is necessary to provide the following:

• - the company’s articles of association;
• - the company’s VAT certificate issued in the country where the company was incorporated;
• - an extract from the Trade Registry operating in the country where the company is a tax resident. 

 

Businesses requesting a VAT number in the Netherlands will obtain their VAT number in a period of approximately two weeks since the moment they applied with the local institutions. The standard VAT number in the Netherlands is comprised of the prefix NL, designating the country, and a code formed from nine digits, which is continued by the characters B01 or B02. Most of the companies have a VAT number ending in B01, as the B02 characters are assigned to businesses which are part of a VAT grouping. 

 

What are the VAT requirements for Dutch sole traders? 

 

The sole trader in the Netherlands represents a way of doing business as a natural person, who carries a specific business activity in his or her own name. This is the simplest structure that can be registered in this country and, due to this, it also benefits from the simplest accounting and reporting requirements, which can be presented at length by our team of Dutch accountants. 

 

Even it represents a very simple business structure, the sole trader is set up with the purpose of carrying business activities, which means that it will also be liable for taxation. This takes into consideration the VAT registration as well. The legislation regulating the VAT registration for sole traders was recently changed and those who want to operate under this structure are invited to address to our team of accountants in the Netherlands for in-depth advice. 

 

One of the main changes related to the issuance of a VAT number for a Dutch sole trader is that the Chamber of Commerce will stop issuing VAT numbers for this structure starting with 1st of January 2020 (this was the main institution that administered this matter). Starting with January 2020, the institution in charge with the issuance of the VAT number will be the Tax and Customs Administration. 

 

The procedure for registering a sole trader will still be administered by the Chamber of Commerce, but the issuance of the VAT number will fall under a different institution with the purpose of protecting the sole trader’s identity, as the VAT number for this structure was connected with the owner’s private citizen service number. 

 

Since the data on commercial entities registered with the Chamber of Commerce can be accessed freely, the Data Protection Authority declared that this is a violation of the GDPR rules and this is why the legislation was recently modified. Sole traders that are already registered in the Netherlands with their private citizen services number will be issued with a new code.
 

Accountants in Amsterdam
 

Amsterdam: the place to invest

 

If you plan to open a company in the Netherlands or if you already run a business here for which you need accounting services, you have reached the right place. Our Amsterdam accountants are specialists in the financial sector and they will offer you professional accounting services. Contact us and you can be sure that all your tax obligations are fulfilled correctly.

 

As the Netherlands' Government set laws and regulations that increase the efficiency of companies and facilitate the entrepreneurial activities, by using our advice you will be sure to benefit from all the advantages the country brings in terms of business. We are a valuable asset for your company and we guarantee that your business will run smoothly in terms of accounting. 

 

 

Our Amsterdam accountants offer services in the following financial activities:

 

• - tax Registration and Compliance;
• - tax returns preparation and filings;
• - accounting and annual tax filings;
• - debt monitoring and risk assessment;
• - consolidation;
• - forensic accounting: special purpose engagement, contracts reviews, financial statements analysis.

 

In addition, we also offer tax consultancy services, meaning that we assist our clients in organizing the needed documents, as well as organizing the financial department and arrange the flow of the accounting policies. With our help, you will have all the needed documentation for a bank loan, but also will you have access to a complete professional quality analysis of receivables and payables. Therefore, you will always be updated with the taxes owed.

 

 

Payroll services and consultancy for Netherlands Banking System

 

As Netherlands signed many treaties that allow business entities to avoid double taxations, it is a great business environment for investors. If you choose our experienced Amsterdam accountant, your company will always be updated with the Double Taxation treaties and you will benefit from all the offers of such treaties.

 

Our accountants in Amsterdam will offer consultancy regarding the Netherlands banking system. By working with us you will have access to accurate and update information regarding loans, European funds and other banking system news and laws. 

 

Moreover, we also offer payroll services in the Netherlands, so you can trust our expertise in statement of salaries, as well as in the taxation system procedures. You will always know the situation on the payrolls. In addition, we will help you prepare the labor contracts, as well as salary certificates and notes for staff dissmisal.  

 

What are the main accounting standards in the Netherlands? 

 

Our accountant in Netherlands can offer in-depth assistance on the accounting standards applicable to both local and international businesses, which are completed following the European Union’s legislation. The Dutch accounting system is based on the International Financial Reporting Standards (IFRS). The accounting procedures that have to be met by a Dutch company vary depending on the size of company. 

 

It is also important to know that the accounting requirements are to be fulfilled in accordance with the tax year, which is generally the same with the calendar year. Our qualifications are internationally recognized per the industry standards and we pride ourselves in having an important number of international clients.

 

We can respond very promptly and in a professional manner to all received inquiries. Our Dutch accountants can provide professional assistance, tailored in accordance with the needs of your business. We offer personalized consultancy and give each client the time and attention he/she deserves in order to solve any problem the best possible way. Also, we can recommend you our partners in Singapore, in case you need professional accounting services for your Singapore business. 

 

 

As presented earlier in this article, our team of accountants in Netherlands can help businessmen with advice on the legislation regulating the accounting standards in this country; our accountants can also prepare the necessary financial documents of a company that needs to file its financial situation with the local tax institutions. 

 

One of the main aspects concerning the Dutch accounting standards refers to the duration of the financial year, which generally is the same with the calendar year. However, it is necessary to know that the Dutch legislation allows deviations from this rule, as long as this is clearly stipulated in the company’s articles of association. Besides this, the duration of the financial year can also be different from the calendar year in the year when the business was incorporated in the Netherlands or upon its liquidation. Besides these, foreign businessmen should also know the following: 

 

• • companies incorporated in the Netherlands and public companies incorporated abroad follow the International Financial Reporting Standards (IFRS);
• • small companies in the Netherlands can choose between two main reporting systems;
• • thus, a reporting system is formed by the Dutch Civil Code (Book 2), Dutch Accounting Standards for Small Entities and the Dutch Accounting Standards for Medium Sized and Large Entities;
• • another reporting system for small companies is given by the IFRS Standards (the EU model) and the Dutch Accounting Standards for Medium Sized and Large Entities;
• • businesses operating as medium-sized companies can follow the Dutch Accounting Standards for Medium Sized and Large Entities; 
• • the latter type of companies may also perform their accounting procedures following the IFRS Standards (EU system), combined with the Dutch Accounting Standards. 

 

What defines the size of a Dutch company? 

 

The basic reporting procedures that must be completed by each company operating in the Netherlands depend on the size of the company. Before contacting an Amsterdam accountant, you should know that in the Netherlands, the size of the company is defined by a set of factors, which are represented by the following: the company’s annual revenues, the number of persons employed by the company and the assets owned by the company. In the Netherlands, the following apply:

 

 

 

micro company	it has less than 10 employees, its revenues are below EUR 0,7 million, while the company’s assets are of less than EUR 0,35 million
small company	it employs maximum 50 employees, the company’s revenues stand at maximum EUR 12 million and it holds assets with a value of less than EUR 6 million
medium sized company	it has maximum 250 employees, revenues of maximum EUR 40 million and assets of maximum EUR 20 million
large company	it employs more than 250 employees, its yearly revenues are above EUR 40 million and it holds assets of minimum EUR 20 million

 

 

In order to be included in one of the above mentioned categories, a company in the Netherlands has to fulfill at least two of the three conditions mentioned for each class of companies for a period of minimum two years (two financial years); our accountant in Netherlands can provide more information concerning this matter.