2012 tax changes

Published: 19-10-2011

As from January 1, 2012 there will be some tax changes. We have highlighted some of them below.

Self-employed tax deduction
Self-employed persons have a tax deduction. In order to be eligible for this tax deduction you need to comply with the urencriterium, which specifies that a self-employed person needs to have spent at least 1,225 hours on business activities during the tax year. The self-employed deduction currently has eight income brackets. As from January 1, 2012, this is will change to a fixed base deduction of € 7,280.

One bank account for tax refunds
Currently tax refunds from different kind of taxes (i.e. income tax, national insurance contributions, income-related contributions for health insurance) can be paid out to different bank account numbers. As from January 1, 2012 all these refunds will be paid to a single bank account number for each taxpayer.

Adjustment to expense deductions for listed buildings
If you own a listed building you receive an income tax deduction. As from January 1, 2012 this deduction changes. The changes are as following:
• The threshold for the deduction of maintenance costs for listed buildings no longer applies.
• Only 80% of the maintenance costs of listed buildings will be tax deductible. Maintenance costs for which a subsidy is provided, cannot be deducted.
• A transitional arrangement is applicable for the tax years of 2012 and 2013 for maintenance cost which have been irrevocably committed before 1 January 2012 and for which the payment of these costs are made in 2012 or 2013. This must be able to be demonstrated through invoices and bank statements.
• The deduction of building depreciation and ownership costs is no longer possible from January 1, 2012.

Keep up to date with the latest tax developments in the Netherlands.
Follow us on twitter or become a fan of our Facebook page.