UPDATE: corona measures

In our previous blog concerning the announced corona measures, we promised to keep you up to date on these measures. In the meantime, more information has become available with respect to the measure for entrepreneurs in affected sectors. In this blog, we will briefly explain what has been learned about this government measure to combat the economic effects of the corona crisis.

Entrepreneurs in affected sectors

The conditions for the Compensation for Entrepreneurs Affected Sectors COVID-19 (TOGS) scheme are now in the public domain. Entrepreneurs who suffer material loss through forced closure, restriction on meetings and/or negative foreign travel advice are eligible for this one-off flat-rate compensation of € 4,000. There are still a number of conditions that need to be met, however, which we will discuss below.

The conditions

In order to be eligible for one-off compensation of € 4,000, the following conditions need to be fulfilled: the company has been incorporated before 15 March 2020 and registered in the Chamber of Commerce Trade Register under one of the requisite Chamber of Commerce SIC codes; a maximum of 250 people work in your company; the company has been established in the Netherlands; non-hospitality businesses have at least one establishment with a different address than the private address of one of the owners; the company is not bankrupt and has not filed a petition for suspension of payments in court; between March 16, 2020 and June 15, 2020 loss of revenue and fixed costs of at least € 4,000 are expected.

In addition to the aforementioned conditions, no compensation will be paid if the company has received more than € 200,000 in state aid in the course of the current and past 2 tax years. You should also note that if you have a company with several branches, this allowance cannot be claimed for several branches, but for the company as a whole.

Would you like to know whether your company is eligible for compensation under the above measure? Or are you interested in other government support measures? If so, why not contact a tax consultant?

Corona measures taken with regards to VAT

If you would like to have more information about the measures taken specifically for VAT-regulations, please refer to this blog written by our VAT-specialist.

More posts by Ahmed Houçine