Knowledge Base


Welcome to the Expatax Knowledge Base containing hundreds of answers to questions we received about topics concerning tax, payroll, accounting, legal, business etc. related to the Netherlands. Search in our Knowledge Base or browse the different categories. Expatax is a Dutch tax and accounting firm specialized in assisting international workers, freelancers and companies. Don't hesitate to contact us if you need assistance or check our website.


Tax assessment for 2014 may be higher than expected

Tax assessment for 2014 may be higher than expected
 
From 1 January 2014, a number of tax rules changed. For example the general tax credit and the employment tax credit became income dependent. The changes became final after the tax authorities had sent the preliminary assessments for 2014, which could not be adjusted anymore. 
 
Because the changes also couldn’t be reflected fully in the salary systems of employers and benefit institutions, they also couldn’t take sufficient account of the changes in the general tax credit and the employment tax credit. Because of this they may not have withheld enough wage tax from your wages or benefits.
 
The consequence is that you may have to pay additional tax or get back less than expected when you receive the tax assessment over 2014. 
 
If you have to pay, you will get 4 months extra time to pay this assessment, in addition to the normal payment period of 6 weeks. This applies to all income tax claims for 2014 received after April 30, 2015 but before July 1, 2016.
 
How much do you have to pay?
 
Did you earn a gross income in 2014 of more than around € 20,000 and is one of the following two situations applicable:
 
• you received salary, pension and / or other benefits and also holiday pay, a 13 month or another special reward and / or
• you received other income, such as income from business or income from other activities

then you have to pay additional tax for 2014 or you will get back less than expected. The effects vary from person to person. The average amount is € 150. But it could also go up to € 300 or even € 700 depending on your income and situation.

Keep this in mind when the tax return is prepared.

Expatax can assist you with your tax return. See www.expatax.nl/taxreturn for our procedure.

Attached Files
There are no attachments for this article.
Comments
There are no comments for this article. Be the first to post a comment.
Name
Email
Security Code Security Code
Related Articles RSS Feed
Protective assessment upon emigration from the Netherlands - why did I get one?
Viewed 19551 times since Tue, Nov 13, 2012
What is the exchange rate I have to use to declare foreign income in my Dutch tax return?
Viewed 3125 times since Wed, Feb 13, 2013
Can I apply for the 30% ruling if I have a foreign employer?
Viewed 3142 times since Wed, Mar 21, 2012
What are the benefits of fiscal partnership?
Viewed 21825 times since Fri, Nov 4, 2011
Should the kinderbijslag be reported in my tax return?
Viewed 2353 times since Thu, Apr 11, 2013
I live abroad and changed address. How do I inform the Dutch tax authorities of my new address?
Viewed 4255 times since Sat, Feb 16, 2013
IB-60 form: overview of your taxable income in a year
Viewed 59724 times since Thu, May 30, 2013
What are the amounts for wage tax and premiums social security - LB/PR. VOLKSVZ?
Viewed 3820 times since Thu, Dec 10, 2015
What is the 4% notional income in box 3?
Viewed 3583 times since Tue, Jun 25, 2013
MenuMENU