Dutch

accounting and tax consultant & financial services Netherlands

Accounting services in The Netherlands are used by most entrepreneurs who start a new business, especially if they are not familiar yet with the accounting regulations. 


It’s very important to discuss with a Dutch accountant on the exact accounting requirements that you need to consider. One of the first questions we often receive from our customers is how VAT registration works in the Netherlands.

 

It is important to understand the annual accounting requirements, which 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 it will also make sure that you will get good insights into the financial health and situation of your company. INCO Business group 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 to prepare your financial statements and file your Dutch corporate income tax return. 

 

Our tax consultants in The Netherlands can inform you how to register for VAT, and how to operate your company while your registration is still pending.

Once you received your VAT number, we will inform you of the Dutch invoice format-requirements, and how you should deal with European and international buyers and suppliers.

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 and the administrative requirements.

The exact requirements for Dutch companies depend on the size of the company, or it’s a 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, and

  • notes to the accounts.

INCO has written 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.

Important considerations 

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

The accounting timeline in The Netherlands looks as follows: 

Once your business is operational in the Netherlands, we can assist you during every accounting milestone, and perform the administrative duties of the company.

accounting services in the nEtherlands

A milestones/accounting services that you can expect from our accountants in The Netherlands are:  

 

- Tax Registration, obtain all relevant Tax ID’s in The Netherlands

- Tax returns preparation and filing at the Dutch tax authorities

- Basic bookkeeping and accounting services

- Debt monitoring and other accounting reports

- Consolidation, in case of a group structure;

- Forensic accounting & Auditing services

- Payroll Services
- Tax Memo’s
- Application of tax rulings or tax opinions from the tax authorities (even for small companies!)

 

 

• Tax Consultancy

Depending on your situation, it can be important to put a tax strategy in place, before we start our Dutch accounting services. Our Dutch tax consultants can advise you on the fiscal consequences of the expected business activities and transactions, and we can determine how the corporate structure should look like.

• Audit Services

INCO Business Group does not provide Audit Services inhouse, but we can connect you to reputable audit companies that will be able to provide you with audited financial statements, or an auditor's declaration (on your forecast, etc etc.). 

 

• Dutch Payroll Services

Our Dutch accountants have a lot of experience in payroll services, especially for expats. We can apply for the Wage Tax ID, for a fixed fee of 125 EUR, as shown in the Company Service price list.

Furthermore, We can provide you with the payrolling services for 450 EUR per person, per year, excl. VAT.

 

The fees include:

  •  Issuance of Salary Slip (pdf and hardcopy)

  • Filing of wage tax return

  • Tax Calculation on salary

  • Advice on 30% Tax ruling (if applicable)

  • Basic support on immigration services for expats (help with housing formalities, tax filing requirements (income tax)

  • Complete statements/journals for the bookkeeper who will be responsible for corporate bookkeeping

In case you don’t have a Dutch corporation or branch yet, we can help you to determine if you require to register a branch, in order to act as Employer of Records.

As a global entrepreneur, you should not underestimate the complexity of setting up your Dutch administration.  Although you might have experience in keeping your books for your current company, there are a lot of details to consider when you start a Dutch company and apply for a Dutch tax number.  It’s important to avoid paying too high taxes, or creating extra work, penalties, or even costly (and frustrating!)  tax audits. By appointing INCO as your administrative partner, you avoid such scenarios, so you can focus on your business. 

 

  • Application of services

 

INCO currently takes the responsibility of hundreds of companies, when it comes to accounting services. We assist these companies from A to Z.

 

This means we have a very good understanding of many industries and the tax or administrative requirements which could be relevant for you.

 

We have made an overview of typical tax and administrative requirements and described them in more detail in our Business Dashboard, so you can get more familiar with these subjects.

 

Examples of products

When you are an expat in the Netherlands, you are typically taxed as an individual. Even if you work as a freelancer, or start a Sole Proprietorship. 

 

Below you will find an overview of services that might be relevant for you, liking to more information in our Business Toolkit section.

Expats

Companies that incorporate according to Dutch laws are typically taxes in The Netherlands for its worldwide income. 

 

Although VAT or Wage taxes/social contributions, might not be relevant for each company, it should be considered that each Dutch Private Limited Company should prepare and file Financial Statements. 

 

Below you will find an overview of services that might be relevant for you, liking to more information in our Business Toolkit section. 

SME & Multinationals

30% Tax Ruling                                     Salary calculations

Income Tax Filing                                  Corporate Income Tax Filing

                                                              Preparation of Financial Statements
                                                              Wage Tax Filing/Payroll administration
Tax Planning                                         Tax Planning
Application of a BSN                             Substance Check
                                                              Application of Tax Treaties

                                                              Transfer Pricing
                                                              VAT Filing

                                                              Application of a VAT number

Please find below a short explanation of the procedure to be followed, to avoid the hassle and continue smoothly running your business!


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.

 

We can provide you with fixed fees for these requirements after we have an understanding of the amount of transactions that you expect. You can also decide to use these services, after we have filed the VAT returns, and the book year is finished.

 

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

What you should consider

Before starting the process of forming a company in the Netherlands it is important to be familiar with some of the basic concepts around rules and practices related to the tax and administrative requirements of a Dutch company.

An important question can be if your company is even considered a ‘Dutch’ company according to tax rules, or if your company is legally required to file a tax return (or if this can be avoided like is the case with NGO’s).

More information about Dutch Accountants services

In this guide we have tried to give a non-legal and simplified overview of Dutch Tax and Accounting applications in the Netherlands. There are many specific requirements and regulations that we have not covered and we encourage you to look at the many articles that we have published in our Business Toolkit.

LEARN MORE

 

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