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Financial administration & outsourcing
Entrepreneurs who outsource financial administration reduce the number of administrative tasks and consequently have more time and space to focus on growth.
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Financial insight
We help you turn financial data into valuable insights that support you in making well-founded decisions. In-depth analyses of your financial situation will help give you a better idea of where you stand and where the opportunities for growth lie, both in the short and long term.
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Financial compliance
We make sure your company complies with financial legislation and regulations, with correct financial statements, tax reports and other obligations. From our global network, we support you in managing local and international tax risks.
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Impact House by Grant Thornton
Building sustainability and social impact. That sounds good. But how do you go about it in the complex world of stakeholders, regulations and frameworks and changing demands from clients and society? How do you deal with important issues such as climate change and biodiversity loss?
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Business risk services
Minimize risk, maximize predictability, and execution Good insights help you look further ahead and adapt faster. Whether you require outsourced or co-procured internal audit services and expertise to address a specific technology, cyber or regulatory challenge, we provide a turnkey and reliable solution.
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Cyber risk services
What should I be doing first if my data has been kidnapped? Have I taken the right precautions for protecting my data or am I putting too much effort into just one of the risks? And how do I quickly detect intruders on my network? Good questions! We help you to answer these questions.
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Deal advisory
What will the net proceeds be after the sale? How do I optimise the selling price of my business or the price of one of my business activities?
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Forensic & integrity services
Do you require a fact finding investigation to help assess irregularities? Is it necessary to ascertain facts for litigation purposes?
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Valuations
Independent and objective valuations tailored for mergers, acquisitions, and legal matters.
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Auditing of annual accounts
You are answerable to others, such as shareholders and other stakeholders, with regard to your financial affairs. Financial information must therefore be reliable. What is more, you want to know how far you are progressing towards achieving your goals and what risks may apply.
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IFRS services
Financial reporting in accordance with IFRS is a complex matter. Nowadays, an increasing number of international companies are becoming aware of the rules. But how do you apply them in practice?
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ISAE & SOC Reporting
Our ISAE & SOC Reporting services provide independent and objective reports on the design, implementation and operational effectiveness of controls at service organizations.
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National tax advice
Looking for tax advice in the Netherlands? We help business owners with tailor-made tax advice: from structure and compliance to innovation and sustainability.
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International tax advice
Plan to do business abroad? Our international tax advice helps you with structure and compliance, as well as offering new opportunities. Strategic, practical, and future-oriented.
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Private wealth services
Our Private Wealth specialists offer strategic and practical solutions. From tax advice to estate planning and financial scenarios, we make sure you make the right choices today, for tomorrow.
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Corporate Law
From the general terms and conditions to the legal strategy, these matters need to be watertight. This provides assurance, and therefore peace of mind and room for growth. We will be pro-active and pragmatic in thinking along with you. We always like to look ahead and go the extra mile.
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Employment Law
What obligations do you have with an employee on sick leave? How do you go about a reorganisation? As an entrepreneur, you want clear answers and practical solutions to your employment law questions. At Grant Thornton, we are there for you with clear advice, from contracts and terms of employment to complex matters such as dismissal or reorganisation.
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Sustainable legal
At Grant Thornton, we help companies integrate sustainability into their business operations, with sustainable legal at the heart of our approach. We advise on ESG (Environmental, Social, Governance) legislation, and help draft sustainable contracts, implement HR policies, and carry out ESG due diligence in M&A transactions (Mergers and Acquisitions).
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HR Services
HR is not an aspect of secondary relevance, rather a strategic factor for success. Yet many organisations struggle with issues regarding personnel policy, absenteeism, terms of employment and legislation and regulations.
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Payroll & wage tax
Payment of salaries is not a simple calculation. Laws and regulations constantly change, and mistakes can quickly cause employees to be dissatisfied or lead to tax risks.
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Compensation and benefits
The labour market is changing rapidly. Employees want flexibility, a sense of purpose and a good mixture of financial and non-financial benefits.
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Pension advisory services
Pension is more than an obligation. It is a strategic term of employment that touches upon your employer brand, financial scope and responsibility to provide for your employees.
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Global mobility services
How can you build and evolve a smart global mobility strategy, with policies and processes addressing the complex challenges of managing an international workforce?
Why is concurrence exemption beneficial?
You currently owe 21 percent VAT on the direct supply of new real estate and/or land. The concurrence exemption ensures that you do not have to pay both VAT and REIT. Since 2011, you may also apply the concurrence exemption to the acquisition of shares in a real estate rich entity (OZR) where the exemption would also apply to a direct acquisition of the real estate itself. It is currently possible to transfer new real estate and/or land (for VAT purposes) via a share transaction without paying taxes on it. This is because a transfer of shares in a company is exempt from VAT.
A share transaction involving new real estate and/or building land therefore usually results in a lower tax burden for VAT compared to when the VAT is a non-deductible expense. If a buyer is not entitled to deduct VAT, a share transaction is interesting. This is because the tax burden is then limited to the non-deductible VAT on, for example, construction and development costs.
With this concurrence exemption, you save tax. This can lead to inequality between market players. The government has therefore prepared a legislative proposal to abolish the concurrence exemption for share transactions. Following responses to the internet consultation on the draft bill, a number of changes have now been made.
Additional amendments to the concurrent exemption for share transactions
The announced additional amendments to the concurrent exemption for share transactions should prevent disproportionate taxation when the concurrence exemption is abolished:
- Exemption from REIT of share transactions involving new real estate for VAT. The condition is that you use them at least 90 per cent for VAT-taxed activities (e.g. hotels, logistics premises and supermarkets) within two years of acquisition.
- Four percent REIT on share transactions involving new real estate for VAT that you use less than 90 per cent for VAT-taxed activities (such as residential rental and healthcare real estate). This ensures a balanced tax burden between direct property transactions and share transactions, as the latter also involve non-deductible VAT at the property entity level.
- Introduce transitional arrangements for projects for which you have already concluded a letter of intent before Budget Day 2023 and where the delivery of the shares is planned before 1 January 2030.
The legislative proposal is expected to take effect from 1 January 2025.
What impact will this bill have on the construction industry?
These changes may affect you as an entrepreneur in the construction sector, such as:
Previously, you could use the concurrency exemption to save tax when acquiring new real estate and/or building sites. With the abolition of the concurrency exemption, you may face a higher tax burden. The change may also lead to rising prices in the construction sector.
Stay tuned!
We are closely following the further development of the legislative proposal and will of course keep you informed. For more information on this and other related topics, please contact one of our specialists. They are ready to help and advise you on your tax issues.