The corona support measures will not be further extended. As of October 1, 2021, the Dutch government will terminate the corona support measures that supported the Dutch economy. The NOW, TVL, Tozo, TONK and various tax measures will not be extended beyond that date. Only specific support measures will remain in force until the end of 2021. For general information on the various topics, we kindly refer to the information in the English language on the website of the Chamber of Commerce.
NOW 4 (tranche 6): application is open until September 30, 2021
When you employ staff and suffer a substantial turnover loss as a result of the corona crisis, you can claim compensation for wage costs under the NOW subsidy scheme. Wage costs include the wages of employees who are insured for employee insurance schemes. NOW 4 (tranche 6) covers wage costs for the period from July to September 2021. You can apply for NOW 4 (tranche 6) until September 30, 2021 at the executive body UWV. Under NOW 4 (tranche 6), a decrease in turnover of at least 20% is required. Similar to the previous tranches, the subsidy amount depends on the turnover loss. However, NOW 4 (tranche 6) is limited to 80% loss of turnover (for companies with a loss of turnover between 20%-80% no changes will occur). The subsidy is based on the wage bill of February 2021.
Please note that you may apply for both NOW 4 (tranche 6) and TVL Q2 2021 and/or TVL Q3 2021. Earlier the TVL subsidy received was considered turnover for NOW 1 and NOW 2 calculations. From NOW 3 onwards, the TVL subsidy is no longer considered as turnover for NOW purposes.
NOW 1.0 (March-May 2020): final determination before November 1, 2021
If you applied for NOW 1.0 (the first application period covering March, April and May 2020), you must apply for the final determination before November 1, 2021 at the latest. You will have to complete, sign and upload the UWV form. In addition, a copy of your bank statement and, if necessary, an accountant's statement or a third-party statement must be uploaded. You can then send the form including attachments to the UWV. You will receive a confirmation by e-mail within 30 minutes after filing the application.
TVL Q3 2021: application before October 26, 2021, 17:00 CET
TVL Q3 2021 is meant for companies (including the self-employed) that have suffered a turnover loss of at least 30% during 3-month periods, to help pay the fixed costs. If your company has suffered a loss of turnover of at least 30% in the 3rd quarter of 2021 compared to the 3rd quarter of 2019 or the 3rd quarter of 2020 due to the corona crisis, you could be eligible for this scheme. Please note: similar to TVL Q2 2021, under TVL Q3 2021 you can choose from 2 different quarters for the reference period: 3rd quarter of 2019 or 3rd quarter of 2020. The application has to be filed before October 26, 2021, 17:00.
TVL Q1 2021: final determination before November 13, 2021
If you applied for the TVL Q1 2021, you should already have received a request to file the final determination. You will have to fill for final determination before November 13, 2021 at the latest. You will have to report the actual turnover to RVO. You will then be notified within 16 weeks of the final amount to which you are entitled.
- If the revenue loss is equal to the estimation at the time of application, the additional 20% will be paid (80% is granted as an advance at time of your subsidy request).
- If the turnover loss is lower than anticipated, you will either receive less than 20% or you will have to (partially) repay the subsidy.
- In case the turnover loss turns out to be higher, the subsidy will increase.
Please note that if you do not submit a final application (timely), you must repay the entire subsidy amount!
If you applied for the TVL Q2 2021, you will also have received a request to file the final determination. For TVL Q2 2021, you will have to file for final determination before January 12, 2022. For TVL Q3 2021, you will have to file for final determination before April 2, 2022. Companies that apply for a TVL subsidy of €125,000 or more, need to provide extra information from an accountant when applying and determining the final subsidy. Reach out to your accountant timely!
NOW/TVL subsidy repayment scheme
In case the final NOW/TVL subsidy amount results in a lower subsidy amount than the advance you received, you are granted six weeks to repay the excess subsidy. If you are unable to repay that amount within the standard six weeks, you may connect with the respective executive body (UWV for NOW and RVO for TVL) to agree upon a repayment schedule. UWV and RVO offer terms of up to five years with an interest rate of 0%.
Tax measures: deferment of tax payments ends as of October 1, 2021
Until October 1, 2021 deferment of tax payments can be requested from the Dutch Tax Authorities. As of October 1, 2021, you will have to pay newly arising tax liabilities. The repayment of the accrued tax liability built up during the deferment period starts on October 1, 2022 and must be repaid in (at least) five years, no later than October 1, 2027. The interest, which is 0.01% for 2021, will be set at 1% as of January 1, 2022. On July 1, 2022, the interest rate will be increased to 2%. The interest rate will increase to3% on 1 January 2023 and 4% on 1 January 2024.
Next to the deferment, the tax-free travel allowance will be continued until the end of this year. Furthermore, the retaining of deduction of mortgage interest for homeowners – in case they receive a mortgage payment break from their mortgage lender – will also be extended until the end of the year.
Financial arrangements: continued until December 31, 2021
The corona financing arrangements KKC, Qredits bridging loan and the temporarily adjusted arrangements BMKB-C and GO-C will continue throughout this year. In addition to direct liquidity support, the schemes can also be used by entrepreneurs for investments in (fixed) assets and working capital in order to return to the turnover and profit level of 2019. In addition, the Time Out Arrangement (TOA) credit enables SMEs to make a new start based on a process under the Dutch Act on the Confirmation of Private Plans (in Dutch “WHOA”). Under the WHOA, debts can be restructured and bankruptcy can be prevented.
Questions or more information
If you have any questions, need help or have questions about these topics, please reach out to one of our specialists: Bas Jeckmans (+31 (0)88-1211 346), Joyce de Graaff (+31 (0)88-1211 443), Kevin Smit (+31 (0)88- 1211 319), Marcel Peusens (+31 (0)88-1211 455) or Ralf Stubbe (+31 (0)88-1211 393).
