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Entrepreneurs whose businesses have problems due to the COVID-19 crisis can request from the Tax Office a special deferral of payment until September 30.
The caretaker government in The Hague has decided that if one uses the special deferral of payment, business owners in Bonaire, St. Eustatius and Saba do not need to pay tax bills due until October 1, 2022. However, they must meet their new payment obligations in time again as of October 1, 2021.
It was reported earlier that entrepreneurs in the Caribbean Netherlands should meet their new payment obligations as of July 1, but the government has now decided to give entrepreneurs more time for this.
If the special deferral expires before October 1, 2021, and one does not request an extension, tax returns must be filed and paid on time again before October 1, 2021. If a business owner is not able to pay, he or she must request an extension of the special deferral as soon as possible.
One will have from October 1, 2022, until October 1, 2027, to pay taxes at a fixed amount for a period of 60 months. If one wishes to accelerate payments, this will be possible.
The Tax Office reported earlier that business owners should start paying amounts due from October 1, 2021, until October 1, 2024, but the central government has decided to give entrepreneurs more time for these payments.
Business owners who do not pay tax returns on time would normally pay six per cent interest on overdue tax payments from the moment the deadline has expired.
“We understand that many entrepreneurs will still be facing financially challenging times in the period ahead. The rate of the interest on overdue tax payments has, therefore, been reduced to zero per cent up to and including December 31, 2021. After that date, the interest on overdue tax payments will return to its old level step-by-step,” the Tax Office said Monday.
On January 1, 2022, the interest rate on overdue tax payments will be set at two per cent; on January 1, 2023, at three per cent; and on January 1, 2024, at six per cent. These temporary reductions only apply to tax debts that have been granted special deferral.
Apart from the special deferral of payment, the Tax Office has also taken other measures to assist businesses and citizens during the COVID-19 crisis. Many of these will be extended, some will not. More information is available on website www.belastingdienst-cn.nl.
The Daily Herald.