An important aspect of many taxation systems is what’s referred to as a ‘progressive rate’. In essence, the more income you earn, the more tax you pay. But how exactly does this work? Continue reading “Higher Incomes, Higher Taxes: The How and Why”
How to Apply for Mortgage Interest Deduction in the Netherlands?
The mortgage interest deduction in the Netherlands is a tax deduction. The paid interest can be deducted from your income, thereby reducing the amount of income tax owed because tax is paid on a lower income. This deduction thus provides a tax advantage for those who own their own home. Continue reading “How to Apply for Mortgage Interest Deduction in the Netherlands?”
Declaring foreign property on Dutch tax return
Anyone living in the Netherlands and owning a house or other real estate in France, Turkey, Morocco, Suriname, or any other foreign country must declare this in their tax return. If you fill out the return correctly, you’ll end up paying almost no tax in the Netherlands. That’s because the house is taxed abroad, and therefore, you receive a deduction that’s almost equal to the tax you need to pay. Continue reading “Declaring foreign property on Dutch tax return”
Mandatory Disability Insurance for Self-Employed in the Netherlands?
The Dutch government is working on a plan to make disability insurance (AOV) mandatory for freelancers and entrepreneurs. The intention of this obligatory AOV scheme is to strengthen the social protection for freelancers and entrepreneurs, hence better shielding them from the financial risks associated with disability. In this way, freelancers and entrepreneurs should not face financial hardship if they are unable to work due to illness or injury. This plan alters several things. It is still under development and is likely to be presented to the House of Representatives in 2024, so we must wait a bit longer before the proposal is finalized. Below is an explanation of what we know so far. Continue reading “Mandatory Disability Insurance for Self-Employed in the Netherlands?”
Is Investing in the Iranian Rial a Wise Choice?
Could it be wise to invest in the Iranian currency, also known as the rial? Or might it be better to steer clear of the Iranian rial? Is there a potential for return, or would it be a more prudent decision to completely avoid the rial and look elsewhere for investment opportunities? Continue reading “Is Investing in the Iranian Rial a Wise Choice?”