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Financial administration
An accurate financial administration provides you with the information you need to take the right decisions. The big advantage of a digital financial administration is that it provides insight into your most important financial processes at any time, whether this is the invoices, salary payments or bank changes.
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Financial insight
You want to take the right decisions, based on trustworthy and clear management information. You want to have access to all your financial data, 24/7, in order to determine your position and be able to adjust where necessary.
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Global compliance partnering
Outsourced compliance services comprises the total financial compliance of your business, in accounting, financial reporting, payroll, legal and various tax reporting obligations. We can make sure you don’t have to worry.
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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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Corporate finance
Finding a suitable match at the most optimum terms. That, in a nutshell, aptly describes the objective of mergers and acquisitions. To most businesses mergers or acquisitions are not standard daily practice. It is, however, for the professionals at Grant Thornton! Seeking their services will add value instantly.
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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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Impact House
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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Transaction services
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? How do I capitalise on synergies following an acquisition? Am I not offering too much? These are all good questions when you’re buying or selling a business. It’s a transaction that concerns significant amounts, impacts your future, and therefore must be executed properly. We provide a solid foundation for your decisions.
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Valuation, investigation & dispute 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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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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Pre-audit services
Pre-audit services is all about making the company’s entire financial administration ready for checking before the external accountant begins his/her audit of the annual accounts.
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SOx law implementation
The SOx legislation dictates that management is structurally accountable for reporting on the internal control relevant to the financial statements.
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International corporate tax
The Netherlands’ tax regime is highly dynamic. Rules and the administrative courts raise new challenges in fiscal considerations on a nearly daily basis, both nationally and internationally.
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VAT advice
VAT is an exceptionally thorny issue, especially in major national and international activities. Filing cross-border returns, registering or making payments requires specialised knowledge. It is crucial to keep that knowledge up-to-date in order to respond to the dynamics of national and international legislation and regulation.
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Customs
Importing/exporting goods to or from the European Union involves navigating complicated customs formalities. Failure to comply with these requirements usually results in delays. In addition, an excessively high rate of taxation or customs valuation for imports can cost you money.
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HR services
Do your employees determine the success and growth of your organisation? And are you in need of specialists which you can ask your Human Resources (HR) related questions? Human Resources (HR) related questions? Our HR specialists will assist you in the areas of personnel and payroll administration, labour law and taxation relating to your personnel. We provide you with high-quality personnel and payroll administration, good HR guidance and the right (international) advice as standard. All this, of course, with a focus on the human dimension.
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Innovation & grants
Anyone who runs their own business sets themselves apart from the rest. Anyone who dares stick their neck out distinguishes themselves even more. That can be rather lucrative.
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Tax technology
Driven by tax technology, we help you with your (most important) tax risks. Identify and manage your risks and become in control!
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Transfer pricing
The increased attention for transfer pricing places greater demands on the internal organisation and on reporting.
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Sustainable tax
In this rapidly changing world, it is increasingly important to consider environmental impact (in accordance with ESG), instead of limiting considerations to financial incentives. Multinational companies should review and potentially reconsider their tax strategy due to the constantly evolving social standards
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Pillar Two
On 1 January 2024 the European Union will introduce a new tax law named “Pillar Two”. These new regulations will be applicable to groups with a turnover of more than EUR 750 million.
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Expand into new markets
Do you seek for opportunities in the global business arena? Whether you are about to open a new office in a foreign country or considering an international acquisition, you need certainty of making the right choices for your company. Global expansion isn’t always as simple as it sounds. The good thing is that we’re here to help!
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Expanding your business in the Netherlands
International expansion is an important step. The Netherlands can be your gateway to Europe for doing business abroad. But why you should choose the Netherlands?
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Global contacts
Wherever you choose to do business, you want access to people with the best ideas and critical thinking that will enable you to grow your business at home and abroad.
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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
Small company or large multinational: in any company your people are of the utmost importance for your business. Employment brings with it many issues in many areas and often has legal consequences. For big strategic, but also for more everyday questions about employment law, our lawyers are ready to help you out. Also for questions about international employment law. Do you have your own HR department? We’ll gladly assist them. We deliver bespoke services and are there when you need us.
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Specialist Areas
Besides our focus on corporate and employment law, we also advise entrepreneurs on a range of (specialist) legal issues. A corporate acquisition, your company administration, complex question in the field of healthcare issues: you have come to the right place.
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Maritime sector
How can you continue to be a global leader? The Netherlands depends on innovation. It is our high-quality knowledge which leads the maritime sector to be of world class.
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Growth in an international network
At Grant Thornton, you will benefit from the expertise and quality of colleagues around the world who will benefit your knowledge, advice and growth.
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Varied customer portfolio
The customer package at Grant Thornton varies from (large) SME customers to (small) corporate customers. From local customers to customers from the international network of Grant Thornton International Ltd. All this diversity in customers can also be recognized in your customer package.
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Culture
At Grant Thornton we combine a solid base with a flexible and results-driven mentality.
Regulatory changes can be challenging at the best of times but with many businesses focused on day-to-day survival, recent rule changes have proved particularly problematic. In the early stages of the pandemic, governments had to act quickly to protect lives and support the economy, meaning businesses had little time to prepare. As attention turns to the future and recovery, further regulatory changes are inevitable. With many governments talking about a 'green recovery' environmental, social, and governance regulations may tighten. While some governments may favour more protectionist policies to boost local manufacturing and services.
Grant Thornton's IBR data shows that concerns over regulations and red tape have risen during the crisis, with 47% of global respondents identifying regulation as a constraint in H1 2020 compared with 43% in H2 2019.
While regulators may tighten rules in one area, and create greater flexibility in another, businesses need to ensure they can meet new compliance regimes and not miss out on incentives that could help their recovery.
Keep up to date with the latest regulatory advice
Regulators across all regions and industries will continue to update and alter rules as businesses emerge from the crisis. Whether it is in-store or in-office health and safety measures, insolvency laws or reporting rules, the regulatory situation can change quickly, and businesses should review their current mechanisms for horizon-scanning and sharing insight with all relevant parties across the organisation. Communicating changes to employees exposed to regulatory changes clearly, accurately and in time will be critical to compliance. Consider regular updates and alerts supported by virtual training and staff presentations to reinforce messages and behaviours.
Businesses should also consider what exposure they may have to outsourced providers or within their value-chain, particularly in relation to regulated activities. Gaining assurance over third-parties' business resilience plans is critical, particularly for financial services firms.
Paul Young, managing director, head of finance, risk and compliance at Grant Thornton UK, says: "A robust process should be in place to monitor regulatory updates and rapidly assess what changes mean for the business and how they can be best applied."
Retune your processes for compliance obligations across multiple jurisdictions
Competing priorities through the crisis have pushed global compliance issues down the list, but the risk of non-compliance and a lack of attention and adherence to local requirements could present unnecessary costs at a challenging time. Notwithstanding the actual regulatory changes in individual jurisdictions, businesses face multiple challenges with compliance, including different languages, times zones, and multiple professional services from different countries supporting primary reporting, corporate and sales tax.
Tony Thornbury, head of global compliance and reporting solutions at Grant Thornton Ireland, says: "Payroll is a particularly acute area at the moment. The complexity and speed with which payroll systems were impacted by the support mechanisms implemented by governments to help businesses reduce unemployment through the COVID crisis, was a big challenge for compliance. These programmes have been pretty varied across different countries."
That complexity only increases as the government support mechanisms evolve and taper.
Thornbury says: "Anywhere that you have multiple jurisdiction trading requires rigorous project management. So having someone that can take compliance off your hands and manage it for you can be invaluable."
Pre-empt the regulators; understand what they are trying to achieve
Tony Markwell, national managing partner private advisory at Grant Thornton Australia, says: "Businesses need to get involved in what the regulators are planning, understand what they're trying to achieve, and be on the front foot. Adapting your business before the regulation becomes a problem is the best advice."
"One of the aspects of a sustainable business model is being aware of what's happening around you. Suppose I was manufacturing products which were no longer environmentally safe or considered best practise and regulators were trying to get me out of that space. In that case, you'd like to think I had a good inkling change was coming my way, and I'd be trying to diversify or adapt my business to take account of that."
On the other hand, if you are in an industry that regulators are trying to stimulate, then expect that there might be grants given out to your competitors. Markwell says: "If your competitor gets a grant to expand and you don't, that gives them an edge on you. Businesses need to be there getting those grant incentives like everybody else. You need to make sure you are doing things that make you appealing to the regulators."
“COVID may see shifts in regulatory focus as well. In Australia we are seeing a shift towards sovereign capability. This will mean huge investment in energy, manufacturing, life sciences and food and beverage that wasn’t there before. When the regulators come knocking on your door to help shape what the future of your sector could look like, it’s an opportunity to set yourself up for success.”
One reason why Formula 1 regularly changes its rules is to prompt innovation among competing teams. Similarly, businesses must be responsive in taking steps to manage regulatory change efficiently, but they must also think about the sustainability of their business models and discern the long-term direction of travel within their industry. In many regions, the pandemic could bring forward legislation that promotes green technologies and further disincentivises polluters; businesses need to adapt to ensure they are long-term beneficiaries and mitigate any downside.
Speak to a local Grant Thornton expert to help you prepare for regulatory changes or sign-up below to get our latest insights direct to your inbox.