Did we already submit your tax return? Then you will receive an assessment from the Tax and Customs Administration within 3 months that you must pay.
Haven't we filed a tax return yet or would you like an estimate of how much money you should set aside? Then we have a handy tool.
How is the tax that I need to pay on my income calculated?
As an entrepreneur you do not pay income tax on your income, but on your taxable profit. And you cannot just deduce this taxable profit from your income and expenses. Since many different factors play a role in this, it is not easy to say how much money you should keep aside.
Income Tax tool by The Bookie
To not leave customers of The Bookie with such a vague story, we want to offer you an estimate of the amount that you will have to pay in income tax. We have developed the tool below.
By entering the Profit for the relevant financial year in the Tool, you will already receive a guideline of the amount that you probably have to pay. This includes a number of entrepreneurial benefits such as the Self-Employed and Starter Allowance and the SME profit exemption. We have left the tool in Dutch, as you will need to understand these terms in Dutch. (As the Tax Authorities refuse the communicate all in English).
Explanation on what to enter where
1. Winst = Profit | In The Bookie Webapp you will find a Profit and Loss Statement in the left sidebar under Overviews. Make sure you select the correct year at the top. NB Dit is niet de definitieve die wij voor je opstellen na afloop van het boekjaar.
> Where do I find a profit and loss overview in The Bookie Webapp?
2. Urencriterium = hour criterion | Do you invest at least 1225 hours in your company in the calendar year? Then you will be seen as a true self-employed person and you will receive entrepreneurial benefits. For those hours, all business hours count. From preparation and travel time to networking and administration.
> What is the 1225 hour criterion?
3. Startersaftrek | In the first 5 years that you are an entrepreneur, you can apply an extra discount to your tax three times. Not sure how many times you've done this? Then calculate both, with and without a discount. We will check this with the Tax and Customs Administration when we actually file your tax return.
> What is the Starter discount?
4. Loondienst = employed (under contract) | Dit hoeven we je niet uit te leggen.
Keep in mind that this is an automatic calculation where the corrections have not yet been made and your personal data has not yet been included.