Entrepreneurs have more time to repay their tax debt | NOW

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Entrepreneurs are given longer time to repay their tax debt accumulated by the corona crisis and they are allowed to start later. State Secretary of Finance Hans Vijlbrief reported this in a letter to the House on Tuesday.

Originally, entrepreneurs would have had to pay off the debt in two years from January 2021. That start date has now been moved to July 2021 and entrepreneurs will have three years to repay the amount.

The cabinet hopes in this way to prevent more bankruptcies. Many entrepreneurs will also have to deal with other creditors who charge higher interest rates than the Tax and Customs Administration, so that the government hopes to give entrepreneurs some more air with this postponement.

Many entrepreneurs make use of the scheme, which was announced in March and is still ongoing. In total, some 250,000 entrepreneurs have applied for a postponement of payment. Of that group, 50,000 entrepreneurs have already fully paid off their tax debt. The remainder has an amount of approximately 12 billion euros outstanding.





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