Compliance

Financial compliance as the cornerstone of your business

Amstaete’s financial compliance practice offers a comprehensive range of services to help organizations compose a wide variety of financial statements and cash flow/ income statements, and periodical tax returns.

We work with life science organizations of all sizes and inclusive of all business structures and not-for-profit organizations. Clients engage our financial compliance professionals to examine and independently attest to the financial conditions of their business. They also engage us for – inhouse or remote – services such as assistance with VAT filing and wage tax returns.

Financial Statements

Dedicated to understanding your organization’s compliance needs’ intricacies, we aim to provide the necessary guidance to remain compliant in a complex regulatory environment. Our approach to financial compliance, such as composing financial statements, means we also look to add value to your organization in any way we can.

Budget, Cash Flow & Income Statements

Budgeting, financial planning, and forecasting are the basis of your strategy execution. To ensure a solid foundation of decision-making, we assist in various budgeting, financial planning, and forecasting cycles.

With the profit and loss statement and the balance sheet, the cash flow statement forms the heart of financial management. It shows changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.

VAT, Wage Tax & Social Security

Amstaete provides compliance services to meet your VAT/ wage tax filing obligations following Dutch legislation. Our compliance specialists are equipped with the technical know-how required to support your organization in navigating its Dutch VAT/ wage tax requirements, and our high-quality deliverable is designed to assist you in meeting those requirements.

Ensuring tax compliance throughout the lifecycle

We prepare a wide variety of tax returns, and corporate income tax computations for organizations and their shareholders ensuring their tax affairs are up-to-date and dealt with efficiently. Our service extends beyond corporation tax returns and includes VAT, wage taxes, withholding taxes, and personal income tax returns. We can ensure you are fully compliant with the increasingly complex tax system. We (also) often undertake the tax compliance work for businesses audited by other firms to ensure that strong corporate governance is maintained.

Corporate Income Tax

Licensing arrangements and research and development tax incentives are items that may exert more pressure on being fully compliant with tax legislation. Our corporate income tax compliance services consist of including the organization in our extension program, reviewing tax assessments, filing and preparing the tax return and specifications, and an advice letter accompanying the tax return outlining the relevant tax positions taken in the tax return.

Withholding Taxes

In many cases, dividend distribution or applying a withholding tax exemption requires Dutch distributing entities to file a withholding tax return/ form within 30 days after the dividend has been declared.

In addition to dividend withholding tax, as of 1 January 2021, the Netherlands has introduced a conditional withholding tax (WHT) on interest and royalty payments. This tax is only levied on interest and royalty payments to affiliated companies in designated low-tax jurisdictions and specific situations. If applicable, Dutch entities should file a tax return within 30 days after the year in which the withholding tax is due.

Our tax compliance team assists in filing and preparing withholding tax returns/ forms.

Transfer Pricing - Documentation

Based on internationally accepted transfer pricing rules, intercompany transactions are required to be carried out on an arm’s length basis. The OECD recommends a three-tiered standardized approach for transfer pricing documentation. Country by Country (CbC report) reporting obligations apply to Dutch entities belonging to a group with consolidated revenues exceeding EUR 750 million.

In the Netherlands, Dutch entities (taxpayers) that are part of a multinational group with consolidated revenues exceeding EUR 50 million must prepare a master file and a local file annually. These files should be available upon submitting the annual corporate income tax return (including any requested extension period).

If applicable, we analyze the arm’s length character of intercompany transactions your organization is conducting and draft transfer pricing documentation in preparation for the filing of the corporate income tax return.

How To Create A Business Plan For Start Ups

Many start-up and scale-up companies wonder whether a business plan is vital. Writing a business plan is not required by law. In the case of additional financing facilities by external financiers, it is necessary to write a business plan.

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Let us worry about increasingly complex compliance challenges and focus on what you do best.