The 2021 corporate income tax return, have you already processed that? Better late than never.
The 2021 corporate income tax return
The 2021 corporate income tax return deadline was June 1, 2022. Maybe you applied for a delay in filing. If you have not yet filed the 2021 corporate income tax return, please take action as soon as possible.
The penalty for not filing the corporate income tax return is high. The amount is EUR 5.514. If this is your first time being too late, you get a 50% discount, but still being a EUR 2.757 penalty. A 50% discount sounds nice, but if the base of the discount is already rather ridiculous, after discount it is still a huge amount.
Sometimes entrepreneurs ask us to file the years 2017-2021 and then we are already not that excited if you only calculate the penalties to be paid. We inform these entrepreneurs up front often to never hear again from them.
Chamber of Commerce
The corporate income tax return is based on the annual report of the company. Only if the annual report is agreed upon we can file the corporate income tax return. At the same time we upload the annual report with the Chamber of Commerce. The BV company has the obligation to provide the Chamber of Commerce before December 31 of 2022 the 2021 annual report.
We are aware the Chamber of Commerce can issue a penalty for not being in time of about EUR 900. Strangely enough, but pleasantly enough, the Chamber of Commerce hardly ever issue such a penalty.
Dutch tax office experience
You might notice that being too late could end up with a EUR 5.514 penalty from the tax office and EUR 900 from the Chamber of Commerce and then you need to pay the corporate tax still.
The penalties are not tax deductible unfortunately.
You could feel annoyed by such massive amount of penalties charged. The again, the Dutch tax office does have experience for a great number of years with working with human being running a BV company. The only method that has been successful so far to get companies to comply is using this method. I think you can agree that it encourages you to comply.
Tax is exciting
We think tax is exciting. Not exciting at all is filing your corporate income tax return too late. Then again, you, the entrepreneur, initiated the process of running a BV company. That comes with obligations and one very obvious obligation is the tax return.
Many reasons can be held up for why you were not able to do this any sooner, none of them will stand in court. You might as well swallow the bullet, file the return still, maybe too late, and make sure you are no longer too late in the future.