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.

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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Does a municipality act in the operation of cemeters as government?

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17 July 2020 - On 19 June 2020, the Supreme Court ruled whether a municipality acts as a government in the operation of cemeteries. The Supreme Court indicates that the fact that a municipality carries out a statutory task is not sufficient to conclude that that activity qualifies as a government act. The task itself, in this case the operation of a cemetery, must also imply that a municipality acts on the basis of specific governmental powers. As a result, the VAT Compensation Fund (BCF) excludes a full compensation of the VAT charged to the municipality for these activities.

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SLIM scheme: working remotely – part 1 of 3

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15 July 2020 – The coronacrisis is causing lasting changes. (Internal) processes must be set up differently and the way of working will change structurally. On 1 September 2020, the new application period for the SLIM scheme will open, a scheme that encourages SMEs to continue to invest in employee development. The scheme can help you to start changing processes and policy in a subsidized manner.

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Wtl: LIV changes in LKV young people

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15 July 2020 – The law for allowances within the pay domain (Wet tegemoetkomingen loondomein – Wtl), which supports people with a weak position on the labor market, will arranged differently. The labor cost benefit for young people (LKV jongeren) is introduced and will replace the low income benefit (LIV). The change will as expected take place on 1 January 2022.

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Charity organisations and the Emergency Employment Bridging Fund

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15 July 2020 – The Dutch cabinet has introduced the Emergency Employment Bridging Fund (Noodfonds Overbrugging Werkgelegenheid – NOW) to protect jobs and incomes. This measure is an allowance towards wage costs for companies that are currently losing turnover. This also raises questions for charity organisations.

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The financial and fiscal consequences of renting out real estate

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14 July 2020 – Real estate investors are increasingly faced with delinquent rental payments, providing rental discounts, suspensions and the remission of rent. This is especially common within the real estate market, specifically for retail.

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Judgement of the ECJ: co-location services

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10 July 2020 – In several EU member states the VAT treatment of co-location services is inconclusive. On 2 July 2020 the European Court of Justice ruled that the co-location services of the Finnish company A Oy cannot be qualified as the rental of real estate or other real estate services. This judgement offers a nice clarification for practice.

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Will the pension agreement turn your pension scheme upside down?

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8 July 2020 - In June 2019, the (principle) pension agreement was concluded by the social partners and the cabinet. In the past year, representatives of employees' and employers' organisations further developed the principle agreement into a final agreement. The question is whether this pension agreement will turn your company's pension scheme upside down.

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VAT and e-commerce: new rules as of July 2021

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2 July 2020 - As of July 2021, new VAT rules will enter into force in the EU. If you sell goods (online) to consumers in the EU, the new rules will most likely have an impact on your business. The new rules require changes within your company.

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Board resolutions by online meetings: approval of the State Secretary of Finance

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1 July 2020 – We previously wrote about the risks involved in taking board resolutions remotely. On 15 June 2020, a statement was made by the Dutch State Secretary of Finance regarding the problem that potentially would arise for the application of the Dutch substance requirements. In this contribution we provide you with an update.

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The tax system: selling your transport company - part 3 of 4

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30 June 2020 - What are the options for achieving a fiscally and organisationally favorable structure for the transfer of your transport company? That is a question that we have already addressed in part 3 of the four-part "The optimal structure". The possibilities of contributing to a private limited company and splitting up business activities were discussed. In part 3 of this four-part section, we will take you further into one of the options for optimally structuring your tax structure in the event of a sale of your company.

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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.