Bookkeeping and Accounting services in the Netherlands
ABiLiTieS Trust, an Amsterdam based accounting office, can assist your business in the Netherlands with a broad scope of bookkeeping and accounting services:
> Payment processing
> Annual reporting
> Filing of publication accounts with the trade register
> Benchmark reporting for statistical purposes
> Payroll services
Our firm has extensive experience with accounting of limited liability companies (BV's), foundations (stichtingen), Coops (coöperaties) and funds for joint account (FGR's).
You can also benefit from our Dutch expertise by having internally prepared bookkeeping and accounting reviewed by ABiLiTieS Trust's accurate senior accounting staff.
Why hiring ABiLiTieS Trust for doing the bookkeeping and accounting?
> We are specialists of local accounting principles (Dutch GAAP) and IFRS and have full knowledge of the consolidation and audit requirements in the Netherlands.
> One of the Dutch tax substance criteria is having the administration executed in the Netherlands.
> ABiLiTieS Trust's attractive fees.
Contact us to discuss how we can help your company and to request a fee quote. You are also welcome for a personal meeting at the WTC Amsterdam.
Before which date a Dutch company shall prepare its annual report?
In accordance with Dutch law the annual figures shall be prepared within five months after closing of the financial year. The deadline can be extended for a period of five months.
Some financial information from the annual report is, by means of publication accounts, be published with the trade register (Kamer van Koophandel). The publication of the report shall be made within 12 months after closing of the financial year.
In case all the shareholders of the Dutch company are also director or supervisory director the term can be limited to 10 months and eight days.
Making the deadline for filing the publication report is very important because of potential personal liability for the directors of the Dutch company and the risk of penalties. ABiLiTieS Trust will monitor all deadlines for you so you will not need to worry about this.
Payrolling is an important process for any company with personnel. The persons involved shall have knowledge of Dutch labor law, wage tax and HR. First the labor conditions shall be recorded in an employment agreement and the employee shall be entitled to work in the Netherlands.
Once set up, the salary administration shall properly record matters like travel compensations and take into consideration proceedings in 30% rulings, minimal salary requirements and collective labor agreements.
Because of the specific knowledge required, it is important to work with a good payroll services company.
What does the bookkeeping and accounting of a Dutch company cost?
The accounting standard is an important factor. The notes to the financial statements are a lot more extensive under IFRS than under Dutch GAAP. As a result, the application of IFRS is more expensive. The use of Dutch GAAP for a Dutch company can be combined with a consolidation at a higher level under IFRS.
The size of the Dutch company is relevant because an audit and consolidation can be required for medium and large sized companies. The size of a company is determined on the basis of three parameters: number of employees, turnover and assets. The figures of (in)direct subsidiaires have to be taken into account too.
Exemption form audit and consolidation
In case of a consolidation at a higher level, there can be an exemption from audit/consolidation. Article 2:408 Dutch civil code allows under such circumstances to determine the size of the Dutch company without assessing the subsidiaries. Many holding companies qualify micro or small sized under this exemption.
The activity level of the business, i.e. the number of agreements, invoices and personnel determines the number of bookings. Nowadays many processes can be automated. Nevertheless, the activity level is an important factor in the final reporting expenses.
Loan vs equity
The use of capital is less laborious than loans. Thus, funding with equity often brings savings on bookkeeping and accounting expenses in comparison to loans.