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.

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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IORP II: internal audit of pension funds

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20 August 2020 – All pension funds must have established the key function for the internal audit by 1 September 2020, including an independent key function holder (SFH). Based on IORP II legislation, pension funds are required from 2019 to establish key functions for actuarial, risk management and internal audit in order to further strengthen governance. Where risk management has already been further developed within the sector in recent years, the internal audit function is still in its infancy.

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Extension of the structure of Recognition Passport for charitable organisations

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13 August 2020 – Supervisor CBF has expanded the design of the Recognition Passport for charitable organisations. Only organisations that meet strict quality requirements are eligible for the CBF Recognition. These organisations must demonstrably contribute to a better world, handle money with care, be accountable and have themselves checked when necessary.

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SLIM scheme: training and development – part 2 of 3

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12 August 2020 – From 1 September to 30 September 2020, the application period for the Incentive Scheme for Learning and Development (SLIM scheme) is open for SMEs and small and medium-sized public organisations with economic activity (VAT / OZB obligation). This scheme offers organisations the unique opportunity to invest subsidized in the training and development of employees.

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Bibob law amendments as of 1 August 2020

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5 August 2020 - As of 1 August 2020, changes have come into effect in the Act on the promotion of integrity assessments by public administration (Bibob). With the Bibob Act, the government wants to prevent that a permit it issues is misused for criminal activities or that business is done with or subsidies are given to "unsavory" counterparties.

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The impact of royalties on the customs value

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5 August 2020 - On 9 July 2020, the Court of Justice of the European Union (CJEU) concluded in the case of Curtis Balkan (C‑76/19) that royalties should be taken into account for determining the customs value of semi-finished products used for manufacturing of licensed finished products for which royalties have been paid.

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Important change in customs regulation for non-EU-based businesses

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30 July 2020 - The Dutch customs authorities have announced an important change in the definition of “exporter of record” that will apply as from 1 October 2020. Accordingly, it will (from a customs point of view) not be possible for non-EU businesses to act as exporter of record in the EU.

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Responsible banking practices: benchmark study 2020

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With Environmental, Social and Governance factors, and responsible banking practices more broadly becoming an essential focus for the banking industry, Mazars has assessed how banks are embedding sustainability into their commercial practices.

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The opportunities of the unique dynamics of the family business in a crisis

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20 July 2020 - For you as a family business it is very important that you manage crises and risks well. Not only during the corona crisis that we are in now, but in every crisis. There is often a lot at stake for your family business. From taking good care of the staff and reputation, to the ambition to continue your family business in the long term and to keep all the good work of previous generations. How do you ensure that your family business keeps its head above water in a (financial) crisis?

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Mazars again first one in high net worth 2020

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20 July 2020 - Mazars, together with Loyens & Loeff, has been chosen as the best consultancy for wealthy individuals in the independent international ranking of Chambers. In addition, Frans Sonneveldt, tax advisor and partner at Mazars, became first in the Netherlands in the individual ranking of Chambers.

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Proposal for UBO-register

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30 June 2020 - On 23 June 2020, the bill regarding the UBO register was adopted by the Senate. The Minister of Finance has reported that the UBO register, which is kept by the Chamber of Commerce, will open in September. This indicates that the law will enter into force from then on.

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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.