Netherlands: Relief and recovery package to be extended through third quarter 2021 (COVID-19)

As of 1 July 2021, Netherlands intends to extend the current relief and recovery package by three months

As of 1 July, Netherlands intends to extend relief and recovery package by three months

A letter (27 May 2021) sent from the government to the Lower House of Parliament announces that the government intends as of 1 July 2021 to extend the current relief and recovery package by three months—thus making the relief and recovery measures previously provided in response to the coronavirus (COVID-19) pandemic available through the third quarter of 2021.

Accordingly, the deferral of tax payments and other relief measures would be available for three more months.

Extension of the relief package means that the “NOW” program (Tijdelijke noodmaatregel overbrugging voor behoud van werkgelegenheid) (that provides temporary emergency bridging measures to retain jobs) and the “TVL” measures (Tegemoetkoming Vaste Lasten mkb) (that provide compensation for overhead of small and medium-size enterprises) would also be available to businesses in the third quarter of 2021.

In addition, the government stated that it intends to set up a “generous” payment arrangement for accrued tax debts—a program that would be broader than the relief that had been proposed several months ago.

Read a May 2021 report prepared by the KPMG member firm in the Netherlands

 

 

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