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COVID-19: Netherlands Relaxes Loss Carry Back Rules

by Ulrika Lomas, Tax-News.com, Brussels

15 May 2020


The Dutch Ministry of Finance has announced that companies will be able to more quickly carry back losses they expect to make this year against profits made in 2019.

Normally, companies would be able to carry back 2020 losses to 2019 only when they file their 2020 tax return in early 2021. However, given the financial difficulties many companies are experiencing, the Government has proposed that taxpayers should be able to use expected 2020 losses against 2019 profits.

Companies will be able to carry back an amount of loss equal to profits made in 2019.

Other measures will provide payroll tax relief in respect of owners' wages, an easement of the rules for access to the self employed deduction (zelfstandigenaftrek), and an increase to the value of benefits employers can provide their employees tax-free.

The Dutch Government has also announced that it will defer implementation of measures in the draft bill on the Excessive Borrowing from Own Companies Act, which is intended to tackle the deferral of personal income tax liability, until 2023.

TAGS: Finance | tax | business | Netherlands | employees | corporation tax | payroll | self-employment | transfer pricing | BEPS

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