From January 1, 2020, a new small business scheme (KOR, kleineondernemersregeling) is in effect in the Netherlands: the exemption from turnover tax (omzetbelasting). This scheme can be beneficial in certain situations. If your revenue is less than 20,000 euros per year, you can choose to enroll in the new scheme. So, it’s a choice; you can also decide not to enroll. If you opt for the new scheme, there’s no need to file a VAT return or remit any VAT. It’s important to weigh the pros and cons before making a decision. Understanding the specifics can help you maximize your benefits.
Read more: Who Benefits from the New Dutch Kleineondernemersregeling?