Use our free tax scan to see if you are eligible for a tax refund. Tax return in the Netherlands: which deductions J.C. Suurmond & zn. With the Netherlands' current low interest rates this is a topic of debate. Whatever your financial situation, our expert team will provide the best course of action. If you want to know more about wealth tax changes and also the increased exemption in gift tax you can read this article. ... Decision 'Income not taxable in the Netherlands' Provisional assessment. Certain costs that you made when buying a house are also deductible from taxes. expat can sometimes be overwhelming and throwing tax season into “We deliver what gets you ahead,” says Daniel, “and we turn complex matters into simple solutions, with a personal touch.”, As much as we all dread this process, it’s an important one to complete as it can save you heaps of money when done. Also, the interest rate for mortgages in the Netherlands is currently at its lowest, which can make your monthly expenses even lower. © 2019 All Rights Reserved. Also, how long this allowance lasts depends on when you applied for the ruling. The M stands for migration, meaning — you guessed it — you must fill it out when filing your tax return for the year you either migrate to, or leave the Netherlands as a taxpayer. It’s good to know that if you miss the April 30 deadline, you can apply for an extension (a tax advisor can help you with this). Image: Scott Graham/Unsplash. As much as we all dread this process, it’s an important one to complete as it can save you heaps of money when done. For example, Daniel tells us that individuals who are only employed in the Netherlands for a part of the year are usually entitled to a tax refund. Actually the Dutch tax system is nicer for expats than for Dutch people! When she's not daydreaming about sci-fi movies or countries yet to explore, you can find her writing for DutchReview. Important dates for tax in the Netherlands, Extended deadline for individuals who apply for extension, Latest date tax return deadline can be extended to by a tax consultant, Personal tax deductions in the Netherlands. We understand that this can be difficult and that is why we are happy to help you. You may be entitled to keeping 30% of your wage, including reimbursement for moving costs — tax free! You can claim money back on essential costs such as examination fees, certain software and any books/study materials that were necessary for your course.Daniel from HBK can help you out with that tricky tax knowledge. If you have found material on this website which is copyrighted by others, please contact the webmaster on this matter in order to have it removed. Daniel tells us that there are many situations that can save you money on your taxes. In this situation, you have usually spent part of the year living abroad and part of the year in the Netherlands, so the Dutch tax office needs to figure out just how much tax you should pay! The income tax return needs to be filed in the consecutive year. From 2016 you can only opt for full domestic taxation in your tax return if your Dutch income is more than 90 percent of your total income. You can also be fined if you don’t submit, and your. If the Tax Authorities notice that you have undeclared foreign bank accounts then you cannot make use of the amnesty ruling anymore. Usually, this means bills to pay, but if you do things correctly there’s a chance you can also get some money back from your taxes in the previous year — so, in 2021 you will be filing for your 2020 tax returns. Need advice on the best way to file your 2015 tax return? We strongly recommend that if you have any doubts or questions about your tax filing situation as a US expat living in the Netherlands, you contact an expat tax specialist. Follow the arrow to our Expats FAQ. Because we prepare several thousand tax returns every year, we are more than familiar with all kinds of situations expats may face. In this case, speaking to a tax consultant is a good way to know if you are eligible to get any money back. Is your work seasonal or commissions-based? means bills to pay, but if you do things correctly there’s a chance you can also get some money back from your taxes in the previous year — so, in 2021 you will be filing for your 2020 tax returns. The M-form must always be submitted before 1 July of a year. The Dutch fiscal year runs from January 1st through December 31st and the filing deadline is May 1st 2021 for the 2020 tax returns. You'd be surprised to learn about the refund possibilities you have as an expat in the Netherlands. Income tax rates range from 9.45% to 49.5%, depending on income levels. Whether you're a Dutch citizen or an expat, you are required to For expats, tax consequences differ based on residency status and one’s personal situation. If you’re an expat and you’ve recently moved to … “This is a very common situation in M-forms, so it is definitely worthwhile to investigate whether you are entitled to a tax refund if this situation applies to you!”. Time to get stuck in the paper-work! Fast, accurate and at fixed fees! It is important that the tax return is correct and that you don’t pay too much or too little. Let’s get an expert look in at how to do your tax return in the Netherlands as an international, shall we? How to file your income tax return in the Netherlands We explain everything you need to know about income taxes in the Netherlands and how to file them, including refunds, fines, and advice. specialise in helping expats in the Netherlands with their tax. As is the case with many expats, you might have income coming from more than one country, or assets in more than one country. If you are a non-domestic tax payer (C-form) or if the 30% ruling applies, you can opt for partial non-domestic taxation which does not require you to state your Dutch or other assets, apart from Dutch real estate. If you are living here for a longer period, buying a house is often more favourable then renting. These costs include valuation costs, the fee for the NHG (National Mortgage Guarantee) and some of the notary fees relating to the mortgage loan. You have entered an incorrect email address! The Netherlands is famous among expats for its extremely high standard of living and one of the best places to raise kids. Note: The M-Form is only for the year that you immigrate to/migrate from the Netherlands. As Dutch income tax rates are higher than in the US, for many Americans living in the Netherlands it will make sense to claim the Foreign Tax Credit. We're constantly hunting for the latest, greatest, and most Dutch spots for our readers. If you’re confused about what tax deductions you are entitled to as a homeowner there’s no need to pull your hair out. Use our Dutch tax calculator to find out how much income tax you pay in the Netherlands. We teamed up with expert tax consultants at HBK to bring you the most up-to-date advice on tax returns. We serve individual expat clients all over the Netherlands with their income tax returns and other Dutch tax needs. Or have you been transferred to the Netherlands as part of your work? Check the 'I enjoy the 30% ruling' and find the maximum amount of tax you can save with the 30 percent ruling. Tax return; Tax return . Daniel and his colleagues at HBK can create tailored tax plans for your personal situation. Image: Scott Graham/Unsplash. What are personal deductible items you may ask? Once you have lived and worked in the Netherlands for an entire year as a tax paying resident, you file for your tax returns using a P-Form. For the most recent two years no fine is due. We can file your tax returns remotely, you are not obliged to physically come to one of our offices. What are personal deductible items you may ask? They will make sure you are aware of your obligations as well as any possibilities to lessen your tax burden. “We deliver what gets you ahead,” says Daniel, “and we turn complex matters into simple solutions, with a personal touch.”. The official deadline for filing your Dutch tax return is the 1st May of 2019, however, there’s no need to panic, as this deadline can be extended if you just can’t face it right now. If you move out of the country you can rent out the house, sell it, or keep it for "own use". In this case it can be profitable for you to file a return so you can claim tax back. For expats - who have to do their tax in a new system and language - the Dutch tax return can seem even more complicated! If you submit your tax return quickly, more than a month before the deadline, you can expect to receive your return before the 1st of July 2019. Consultants such as. Other personal tax deduction possibilities. However, it’s important to bear in mind that there are a number of. Finally, you need to apply for (and be approved) for the ruling by the government. We are specialized in tax returns with an international situation like M-forms and C … Coronavirus press conference: Some restrictions eased, curfew lifted, King’s Day 2021: 50 arrested in Amsterdam, parks closed across the Netherlands, Parents in the Netherlands to receive at least nine weeks of paid leave, Coronavirus press conference: Some measures likely to lift next week, GPs launch site offering unused vaccine doses to prevent waste. at the latest — set a reminder, put it in your calendar, tattoo this date into your brain if you have to. As mentioned earlier, the tax free amount for savings was 21.000 euros per person in 2015 for domestic tax payers. If you are dissatisfied with the website or any content or materials on it, your sole exclusive remedy is to discontinue your use of the website. You’ll need to fill out a separate request within 36 months after the date of the Final Tax Assessments. Tax returns in The Netherlands for individuals and small business owners can be hard. , translating to “mortgage interest deduction.” Under this, you can declare the interest you pay on your mortgage and deduct it from the amount of your taxable income, on which you have to pay taxes. The website may provide links to other websites on the Internet, the content of which is not in our control. In fact, for many U.S. expats, the Foreign Earned Income Exclusion (IRS Form 2555) and other deductions will … In short: file, or lose a bunch of cash. If you’re confused about what tax deductions you are entitled to as a homeowner there’s no need to pull your hair out. If someone is caught with undeclared assets, the fine can be up to 300 percent, plus interest due over the past 12 years. Whoopee! Tax support for expats. When dealing with US expat tax in The Netherlands, there are a number of preferential expat tax treatments that may benefit your U.S. expatriate tax return. Usually this will save you time, money and worry! As of the 2022 tax year, tax deductions for your study costs will no longer be possible. Tell us your Dutch tax experiences in the comments below! But the most valuable thing a tax consultant can offer is proactive insight. When deregistering you will need to supply a foreign address. You can apply for an extension if necessary, but you must do this before May 1. The ACA Expat Tax Return Preparer Directory is an online directory to help connect overseas US citizen taxpayers with the most appropriate expat tax accountant. You cannot include a year which you have already filed an averaging request for. Filing taxes in the Netherlands and another country: How to avoid double taxation, The infamous M-form: a guide for expats in the Netherlands. Are you a freelancer? Life as an expat can sometimes be overwhelming and throwing tax season into that mix can be one heck of a confusing cocktail. Want your business to reach an unrivalled expat and international audience? “As well as this, you may also be entitled to a tax deduction if you are paying partner alimony.”. Fill out the form below! The annual income tax return Every year from 1 March it is that time again: you have to file your annual income tax return at the Belastingdienst (the Dutch tax office). #3 Personal tax deductions and how to do your tax return if you own a house? The Dutch tax year starts on January 1 and ends on December 31. As a partial non-resident taxpayer, you are taxable on your Box 1 income, e.g. The Dutch government does give persons with undeclared assets the opportunity to put things right on their own initiative. What does this entail? In the Netherlands it is possible to receive a tax free donation. Finally, you need to apply for (and be approved) for the ruling by the government. Tax returns — the grown-up matter we’ve all been somewhat ignoring is finally upon us: it’s time to file your taxes! “However, this form is only available in Dutch, which makes the process more difficult for expats.”. Expat tax return service: fully tailored support for expats in the Netherlands As an expat, the Dutch tax system will be a lot to understand and to find your way in. It's important to note that you can always request to file a tax return - even if you haven't received a notification. Maybe you’ve had different jobs in the past three years, or went through a patch of unemployment? The employees at HBK are more than happy to take this papery weight off your shoulders and chances are they will make a discovery you didn’t realise! A tax consultant will advise you on your tax situation. It is strongly recommended that you turn to a tax advisor when it comes to dealing with the monstrosity that is the M-form. This includes foreign assets. You can also be fined if you don’t submit, and your toeslagen situation can also be affected. In a nutshell? By using this form you agree with the storage and handling of your data by this website. You may also be entitled to tax deductions this year if you are a student and paying for your study — depending on what you are studying. The risk here is that you get taxed twice, which of course you want to avoid. Optimizing refunds for expats since 2003. Let us be your guide It is time to file your 2020 Dutch tax return The challenge is to know how to make use of such advantages and to find the best opportunities for claiming tax refunds. This is called the amnesty ruling in which a fine of 60 percent applies in addition to the tax which is due. Feeling a little less scared of that pesky blue envelope? We offer efficient and effective service in the calculation and filing of your individual income tax return, provisional income tax returns and any individual tax related issues. 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