Company administration is usually seen as a heavy burden limiting the creative mind of the entrepreneur. We have to disagree with this view. The company administration being up to date is the backbone of the success of the business. If you are not aware whether you are earning more than you spend, you cannot run the business properly.
We also understand that the actual processing of the bookkeeping into a result that can be used for filing the value added tax return and income tax return might be a little too much for the entrepreneur to cope with. This is exactly the area where we can be of assistance.
Corporate tax returns and VAT
The company administration can be entrusted to us and we will be glad to process the tax returns.
This would mean quarterly updates of the bookkeeping for a one man company (eenmanszaak) in order to be able to file the quarterly VAT returns. At the end of the year the personal income tax return is based on the quarterly bookkeeping results.
For a Dutch BV company, the quarterly bookkeeping is the update for the VAT returns. At the end of the year an annual report is drawn up with a publication report and minutes of the shareholders’ meeting to discharge the managing director of his actions. The corporate income tax return is based on this annual report.
For Dutch branches of foreign limited liability companies the quarterly bookkeeping is updated for the VAT returns. At the year end the corporate income tax return is based on the quarterly bookkeeping results.
Our aim is to file all tax returns on time. This doesn’t just mean we file the VAT returns in time (obviously) but we also file the income tax return before the April 1 deadline, and the corporate income tax return before the June 1 deadline. All of course presuming we receive the accounting details in good time.