Amended Dutch legislation with regard to annual accounts
Tuesday 10 November 2015
Further to the Accounting Directive 2013/34/EU, replacing existing Directives, new Dutch legislation in respect of annual accounts has been recently adopted. The new rules apply to legal entities which are subject to Title 9 of Book 2 of the Dutch Civil Code and will apply to financial years commencing on or after 1 January 2016. It is permitted to apply the new rules to financial years which started earlier. The Accounting Directive and thus the new Dutch legislation aims to reduce administrative costs for small and medium-sized companies, facilitate comparability of annual accounts and increase transparency.
- balance sheet total is increased to≤ €6 million for small and ≤ €20 million for medium-sized companies;
- net turnover is increased to ≤ €12 million for small and ≤ €40 million for medium-sized companies;
- the employee criteria remains unchanged;