Deferred payment with the Tax Administration

A new year, a fresh start! We sincerely hope that 2021 will be a year filled with healthy entrepreneurship. A year in which you, as an entrepreneur, can operate under favorable conditions. Was 2020 a challenging year for you? The Tax Administration can lend you a helping hand. You can apply for special deferment or an extension of deferment of payment.

Special deferment of payment

If you are unable to meet your payment obligations to the Tax Administration due to the crisis, you can apply for special deferment of payment until March 31, 2021. This will provide you with a short-term liquidity advantage. If you already have a payment arrangement, don't forget to apply for an extension of deferment.

All assessments from the period of March 12, 2020, to March 31, 2021, fall under this scheme. The generous repayment scheme of 36 months begins on July 1, 2021. In April 2021, the declaration for the first quarter of 2021 must be paid on time.

Should I apply for deferment or not?

To navigate through this crisis effectively, you need a solid liquidity plan. This will help you anticipate pending payments and how to manage them. Did you already have a good plan but find your business facing tough times? Then the payment arrangement offered by the Tax Administration is a first step to getting your plan back on track. It's possible that special deferment of payment may not provide sufficient assistance. If the arrangement doesn't offer you enough liquidity advantage, applying for a loan can kickstart your planning again. Entrepreneurial loans are included in the supplementary measures for entrepreneurs. It's advisable to discuss this with your financial advisor first. The most suitable loan for you depends on your specific situation and resources.

Can we offer assistance with this? We'd be happy to brainstorm with you. We collaborate closely with various financial entities and would be pleased to explore the solutions available to you. Can we be of help? Please feel free to get in touch with us!

We are a NOAB certified office, affiliated with the Dutch Association of Administration and Tax Experts. This is a professional association where members are kept informed about current developments and regulations. More information about the NOAB quality mark can be found at www.noabkeurmerk.nl.