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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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Cryptocurrency and digital assets
In the past decade, the utilization of blockchain and its adoption of a distributed ledger have proven their capacity to revolutionize the financial sector, inspiring numerous initiatives from businesses and entrepreneurs.
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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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Sustainable legal
Sustainability is more than a buzzword - it is the core of our legal advice towards sustainable success. From drafting sustainable contracts, integrating sustainable HR policies and ESG due diligence within our M&A practice to advising on ESG and other (national and international) legislation: we prefer to be pragmatic and proactive in helping your business.
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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.
New option for reference turnover
For the TVL Q2 2021, it will be possible to choose between the second quarter of 2019 and the third quarter of 2020. This option is being introduced in response of questions from Dutch Parliament. They requested that a quick solution must be found for companies that do not receive any subsidy due to issues with reference turnover.
As a result of this adjustment, it is expected that you can apply for the TVL Q2 2021 from the second half of June. The exact date is not yet known.
Summary
The TVL offers entrepreneurs affected by the corona crisis compensation for their fixed costs. The TVL requires that you have at least a drop in turnover of 30%. Also, the fixed costs must be at least € 1,500. The fixed costs are calculated based on a fixed percentage that belongs to the main activity.
For the TVL Q2 2021, the reimbursement percentage of the fixed costs is 100%. With a 100% drop in turnover, 100% of the fixed costs will be reimbursed. With a 50% drop in turnover, you will receive a reimbursement of 50% of the fixed costs. Again, not the real fixed costs are reimbursed but a calculation is made of the fixed costs based on your branch. Almost all companies in the Netherlands that meet the conditions can apply for the TVL. Only financial holding companies, investment institutions with limited entry and holding companies and intra-group group services without other ancillary activities are not eligible for the TVL.
The minimum subsidy amount per quarter is € 1,500. The maximum subsidy amount is € 550,000 for SMEs and € 600,000 for non-SMEs. Agricultural and horticultural businesses receive an additional surcharge for the special costs of keeping plants and animals alive. This 21% mark-up is in addition to the TVL subsidy with a maximum of € 225,000 for the entire corona period in 2021.
SBI codes
The amount of the TVL subsidy is partly determined by the main activity with which an entrepreneur is registered on 15 March 2020 in the Trade Register at the Chamber of Commerce. At the beginning of this year, the Trade and Industry Appeals Tribunal (CBb) ruled on three cases about the TVL. The court ruled that the Netherlands Enterprise Agency (RVO.nl) may initially assume the sequence of activities as recorded in the Trade Register. If an entrepreneur disputes with RVO.nl that these data are correct, RVO.nl must investigate the actual main activity of the entrepreneur.
In response to those three rulings, the government has decided to introduce a softening in the TVL from the first quarter of 2021. This softening in the TVL make it possible for entrepreneurs to qualify for the TVL based on their actual main activity, or receive a higher subsidy based on their actual main activity. This also applies if the actual main activity deviates from the activity with which a company is registered in the Trade Register on 15 March 2020.
Auditor's report
An other new requirement for the TVL Q1 and Q2 2021 is the auditor's report. If you apply for TVL Q1 or Q2 2021 of € 125,000 or higher, an auditor's report is required when applying for the final subsidy. No specific details are yet known about this for the TVL Q2 2021. For TVL Q1 2021, the type of auditor's report depends on whether your company has an audit obligation.
Start-ups
In January 2021 it was announced that the government is developing a scheme to reimburse fixed costs for start-ups. Many starting entrepreneurs are not eligible for the current support measures, for example due to the lack of a reference turnover. With the new option for reference turnover, starters will be integrated in the TVL Q2 2021 scheme and a separate starters scheme for the second quarter of 2021 is no longer necessary.
The recent adjustment does not apply to the TVL Q1 2021. That is why a start-up scheme will still be introduced for the first quarter of 2021.
Not sure whether you are entitled to TVL?
The table below provides an up-to-date overview of all conditions and differences. Based on this table, you can determine which conditions must be met when applying for TVL.
Questions?
If you have any questions about the TVL or other measures that the Dutch government has taken for entrepreneurs in the context of the corona crisis? Please contact us.