In the Netherlands, Prinsjesdag—or Budget Day—is a key event for businesses, as it outlines the government's tax and financial plans for the coming year. Held every third Tuesday of September (this year on 17th of September), the government presented its budget, highlighting changes to corporate taxes, VAT, wage and income taxes and other policies that affect the business environment. The Miljoenennota (Budget Memorandum) provides details on investments in infrastructure, innovation incentives, and regulatory changes. For businesses, Budget Day is essential for understanding how tax reforms and financial policies will impact costs, profits, and overall market conditions, allowing them to plan for the year ahead

Entrepreneurs engaging in Research & Development (R&D) activities should consider establishing their operations in the Netherlands. The Netherlands offers several incentives that effectively reduce R&D costs, fueling entrepreneurship and fostering investments. These incentives, particularly the WBSO (Research and Development Promotion Act) and Innovation Box, play a crucial role in supporting innovative companies, enabling them to invest more and accelerate their development processes.

We would like to inform you regarding a new reporting obligation that will be implemented starting 1 July 2024. If your company employs at least 100 employees in the Netherlands, you will be required to track and report the total number of kilometers your employees travel for work-related purposes annually. This initiative is part of a government plan to monitor and eventually reduce CO2 emissions linked to business travel.

Effective January 1, 2025, the European Union (EU) is implementing a comprehensive overhaul of its Value Added Tax (VAT) scheme, with a primary focus on supporting small and medium-sized enterprises (SMEs) across all Member States. The new framework introduces key features aimed at standardizing VAT registration thresholds and extending benefits to non-resident EU businesses.