The Dutch government in a 12 March 2020 release announced a number of tax relief measures to support the business community in response to the coronavirus (COVID-19).
These tax relief measures include:
Other relief measures concern reduced working hours for employees, assistance for independent contractors (freelance workers), and broadened guarantees for loans made to small and medium-size entities (SMEs).
If a business expects to realize a loss for the (financial) year 2020, whether or not due to the coronavirus crisis, it may be useful to report this immediately after the end of the financial year and to request a provisional settlement of that loss with the (determined at assessment) 2019 profit (provisional carry-back). Then, 80% of the reported loss is taken into account. The amount of tax payable or paid for the 2019 financial year can then be reduced or recovered, in whole or in part.
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.