At Mazars, we inform you about the recent developments and rules and regulations that can have impact on you or your organisation. Would you like to minimise your risks and maximise your opportunities? We have listed several noteworthy news items that can be of use to you.

Converting your year-end bonus into an additional travel allowance

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17 September 2020 – Due to the coronacrisis, employees currently work at home much more often than in the office. How does this affect the tax-free travel allowance you pay each month? The Tax and Customs Administration has provided more clarity on this.

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Transitional compensation

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31 March 2020 - As of April 1 2020, the Transition Compensation Compensation Act (Wct) comes into effect. This means that from that date, employers can apply to the UWV for compensation for the transition compensation they owe if they dismiss an employee who has been incapacitated for work for at least 2 years.

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NOW scheme 3.0: changes as of 1 October 2020

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15 September 2020 – On 28 August 2020, the Ministry of Economic Affairs announced that it would extend the NOW scheme for three periods of three months from 1 October 2020. This decision is part of the announced aid and recorvery package. It is expected that it will be possible to apply for NOW 3.0 from 16 November 2020. We would like to inform you about the changes that this scheme entails.

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The new benefit register of the foundation

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9 September 2020 - A new legal provision in Book 2 of the Civil Code entered into force on 8 July 2020. This provision prescribes that foundations must keep a benefit register and would have a fiscal necessity. Although parliamentary history does not show which gap is being closed here.

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SLIM scheme: agility – part 3 of 3

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3 September 2020 - SMEs are the driving force behind our economy. More than 60% of workers work in SMEs. Research shows that investing in continuous employee development results in more successful companies. Continuous development also enhances the chances of a successful career. To stimulate this, the Minister of Social Affairs and Employment has made € 14,5 million available. The application period for the Incentive Scheme for Learning and Development (SLIM scheme) in SMEs is open from 1 September to 30 September 2020.

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Data analysis within the transport and logistics industry: significant unexploited potential

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3 September 2020 - Analysing data helps transport companies to improve their business operations. This allows them to make better decisions based on extensive and up-to-date insights into the KPIs that are relevant to them. In a sector where margins are low and volatile, it is crucial to take risks to get the most out of it. Nevertheless, the application of data analysis is still in its infancy at many companies. Mazars investigated the application and potential of data analysis within transport and logistics companies.

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Special deferment of payment: refund of tax liability in 24 months

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2 September 2020 - As a result of payment problems due to the coronacrisis, many companies have requested a special deferment of payment from the tax authorities. Until 1 October 2020 a company can still apply for a new application for a special deferment of payment for three months, or an application can be extended by three months. What happens to the outstanding tax debt after 31 December 2020?

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Brexit Impact Scan: is your company ready?

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31 August 2020 - Even though companies may still struggle with the consequences of the coronacrisis, Brexit is coming. With only a few months left, companies must determine whether they are ready for Brexit or not.

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Paid foreign VAT? Reclaim it!

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31 August 2020 - If you have as an entrepreneur in 2019 paid foreign VAT over goods and services which you have purchased in another EU country while you are not located there or VAT is due, you can (digital) reclaim this VAT. To be eligible for this, you have to take action before 1 October 2020.

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Self-employed in art education: tax risks for clients

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24 August 2020 – Does the teacher you hire as a self-employed person actually have a disguised employment contract with the music school? After years of loyal service, is the freelance dance teacher actually employed by her client? The answer to these questions has significant financial, employment law and tax consequences for both the client and the teacher.

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Your challenges during the coronacrisis

These are special times where we face major challenges. The impact of the coronavirus is significant and the situation is constantly changing. We will inform you about new developments and measures and are of course at your disposal to support you where necessary with your current challenges. Do you have questions? Please contact your trusted Mazars adviser or use the contact form.