UPDATE steunregelingen

Are you an entrepreneur affected by the corona crisis? Read below for the provisional state of affairs regarding your compensation:

NOW Scheme for Affected Employers

The scheme cannot be applied for yet (update on March 24, 2020, at 11:30 AM). The compensation is based on your turnover. Your employees can continue to be deployed if necessary, as long as the coronavirus regulations are adhered to. Only if the deployment of your employees leads to a reduction in turnover, it will affect the compensation. In all other cases, the deployment of your employees does not affect your compensation. The scheme is administered by the Employee Insurance Agency (UWV).

Emergency Support for Self-Employed Entrepreneurs (TOZO)

This scheme applies for a maximum of 3 months (preliminary until June 1, 2020) and provides a maximum amount of 1,500.31 euros net per month. The scheme is a relaxed version of the current Bbz application (Income Support for Self-Employed). The scheme cannot be applied for yet (update on March 24, 2020, at 11:30 AM). However, many applications have already been submitted through the regular Bbz application procedure. Our advice is to wait until the TOZO relaxed emergency application can be submitted to your municipality. You can also apply for an expedited procedure for a business capital loan of up to 10,157 euros. This scheme is administered by your municipality.

Emergency Fund of 4,000 euros for Affected Entrepreneurs with a workspace outside the private residence

Amounts from this fund are a grant for businesses directly affected by the coronavirus measures. This includes establishments such as restaurants and beauty salons where customers must maintain a 1.5-meter distance. The conditions for eligibility are yet to be announced (update on March 24, 2020, at 10:00 AM). The scheme is administered by the Netherlands Enterprise Agency (RVO).

Tax Payment Deferral

• Deferral applies to all entrepreneurs facing difficulties due to the corona crisis.
• Deferral of tax assessments can be requested immediately with a coronavirus-related argument. 
• Collection of the tax assessment is suspended as soon as the written justification is received by the Tax and Customs Administration. 
• You will receive an automatic 3-month deferral. An assessment by a third-party expert (such as an accountant or industry organization) is not necessary.
• No default penalties will be issued. If they were automatically imposed, they will be reversed. 
• Almost no interest will be charged (0.01%).
• The government aims to minimize the administrative burdens of applying for payment deferral for you.

Expansion of Guarantee for SME Loans for Companies with up to 250 Employees

• This expansion represents a flexible arrangement for obtaining money from the bank under favorable conditions.
• The government provides a guarantee for 90% of the borrowed amount. Additionally, 75% of a bridging loan can be financed through the SME Loan Guarantee Scheme (BMKB).
• The personal guarantee of the entrepreneur has been reduced from 25% to 10%.
• The credit portion, at the bank's risk, can take the form of a new loan, a new overdraft facility, or an increase in an existing overdraft facility. 
• The maximum credit limit is set at 1.5 million euros. 
• The maximum term for a BMKB loan is 8 quarters. 
• The repayment method is at the discretion of the bank. The options are:
  • Linear (the same amount each time + interest on the outstanding amount), possibly with an interest-free period.
  • Lump sum, at the end of the term.
• The assessment for a shortage of collateral is not considered when using the BMKB guarantee.