End-of-year tips 2020: perspective for the future
We are happy to share our end-of-year tips for 2020, an unusual year in every respect. 2020 brought a new reality that was unfathomable this time last year. The COVID-19 pandemic caused a massive shock to the world and the global economy, and it has affected every business differently. We are living in uncertain times. But despite all the hardships, you might also want to look at the crisis as an opportunity to make some much-needed decisions, some of which are perhaps long overdue. We urge you to use the last few weeks of the year to shore up your organisation’s resilience.
Perspective for the future of your business
Reflecting on the future of your business in the Netherlands is about determining your focus: what is really important? Whatever happens, you are not alone: Accon International is here to help you and your business.
We wish you good health and all the best in the New Year.
Kind regards,
Accon International |
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| Tip: make use of the coronavirus support package |
| Even if the support package offered by the Dutch government may seem complex for businesses at times, you can create major relief by availing yourself of the support measures. |
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| Buy an electric car before the year is out |
| If you are looking to buy or lease a new company car for yourself, in your capacity as the business owner, or for your Dutch-based employees and you favour an electric car such as a Tesla, you should know about the changes in the income step-up for tax purposes for electric cars in the Netherlands. |
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| Distribute dividend in 2020 |
| The Dutch tax rate on income from substantial interests (Box 2) will increase from 26.25% to 26.9% on 1 January 2021. That is why you may want to distribute any dividend before 2021. If the dividend is € 100,000, you will save € 650 in tax. |
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| Work-related costs scheme: increase and decrease in discretionary budget |
| The work-related costs scheme allows you to offer your employees non-taxable allowances in the Netherlands. The margins for the discretionary budget are set to change again in 2021. Find out what this means for you and your employees. |
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| Benefit from the lower corporate income tax rate |
| The Dutch corporate income tax rate is set to be lowered. Efficient use of this tax facility will significantly reduce your tax burden, freeing up funds for you to do business. |
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