Do you have questions regarding your challenges during the coronacrisis? Please contact your...
Temporary bridging scheme for self-employed entrepreneurs (Tozo)
The Dutch government introduces the Temporary bridging scheme for self-employed entrepreneurs (Tijdelijke overbruggingsregeling zelfstandig ondernemers - Tozo), a measure to support entrepreneurs during the coronacrisis. It is a two-part scheme: income support for three months and the possibility to apply for additional corporate credit.
THE MAIN OUTLINES OF THE TOZO SCHEME ARE AS FOLLOWS:
- The Tozo scheme offers support to self-employed entrepreneurs, including self-employed persons without personnel;
- The income support is a supplement to income up to the social minimum (social assistance benefit level);
- A minimum age of 18 applies;
- The self-employed person must live in the Netherlands and run their business in the Netherlands;
- The company is registered in the Commercial Register of the Chamber of Commerce and must have been started prior to 17 March 2020, 7:45 pm and meet the hour criterion, i.e. a minimum of 1,225 hours annually working in the company's own enterprise or independent profession (on average 24 hours per week);
- The entrepreneur must submit the Tozo application to the municipality where they live;
- Municipalities strive to decide as much as possible within 4 weeks of receiving your application. Municipalities may also pay an advance;
- The loan for operating capital is capped at € 10,157;
- Deferred repayments are possible.
- Interest will be due, but it will be lower than usual.
- The scheme has a retroactive effect to 1 March 2020;
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.