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Not just one bank account for VAT refunds anymore

In order to cut back on administrative burdens for companies, the current rule that an entrepreneur may only use one single bank account in its own name for VAT refunds, will be withdrawn. This will be formalized in the coming 2015 Netherlands new tax rules. However, as per a decree, the Dutch under minister of Finance has announced that the new situation will be in effect as per September 9th 2014. This is especially good news for situations where one wants a third party to receive the VAT refunds (i.e. fiscal representatives).

The following conditions apply:

  • The entrepreneur needs to file a written request at the competent tax office to use the third parties’ bank account for the refunds.
  • With this request, a statement is given in which the entrepreneur declares to which bank account the VAT refund must be paid out, and in which name this bank account is.
  • The entrepreneur explicitly declares in his request that he revokes his right to appeal to non-liberating payment.

VAT - a complicated tax?

Even most tax professionals find VAT one of the most difficult taxes to handle. Franke VAT Specialists  can help you in acknowledging and understanding VAT issues in your organization, streamline the VAT processes and get you in control. Through advice, VAT scans, training, help on implementation projects and/or other forms of support, Franke VAT Specialists will help you to optimize your organization from a VAT perspective!


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