Glossary
A
A statutory requirement
~Dutch: Wettelijk vereist
What the law demands.
Accountant
~Dutch: Accountant
A professional hired to do the bookkeeping, the business administration for a business.
Acquisition
~Dutch: Overname
When a company buys (a part of) another company.
Act
~Dutch: De wet
Laws are rules made by a government that the people have to abide by.
Act on the security of networks and information systems (Wbni)
~Dutch: Wet beveiliging netwerk- en informatiesystemen (Wbni)
A law with the intention to make computer systems less vulnerable to cybercrime.
Administrative charges
~Dutch: Leges
Money paid for the services of a government official.
Administrator
~Dutch: Curator
A person appointed by a judge to make sure a bankruptcy is handled in the right way. And that creditors are repaid what they are owed as much as possible.
Advance levy
~Dutch: Voorheffing
A tax term meaning that tax is levied (needs to be paid) in advance. Payroll tax is an advance levy of income tax, for example.
Agreement
~Dutch: Overeenkomst, Contract
A document in which 2 or more parties promise to work together in a certain way.
Airbill
~Dutch: Vrachtbrief (luchtvervoer)
A document used in the transport of goods by air that contains detailed information about the goods.
Alcohol Act
~Dutch: Drank- en Horecawet
The law that regulates the sale of alcohol in the Netherlands.
Allowance
~Dutch: Toeslag
An amount of money that someone receives from the government, in order to pay for the things they need.
Amendment
~Dutch: Wijziging (statuten, registratie, wet)
A change in rules or law.
Amendment of the articles of association
~Dutch: Statutenwijziging
A change in the articles of association.
Amortisation
~Dutch: Afschrijving
Instead of deducting the full cost of purchase for a business asset from your taxable income in one go, spreading it over multiple years in which the asset is used. Each year, a part of the costs can be deducted in the income or corporate tax return, until the full amount has been deducted.
Annual accounts
~Dutch: Jaarrekening
An annual overview of the financial situation of a company or organisation.
Annual income statement
~Dutch: Jaaropgaaf
The annual statement contains information that is important for the levying of income tax,national insurance contributions and the income-related healthcare insurance contribution (Zvw).
Annual report
~Dutch: Jaarverslag
The report a company writes at the end of a year to tell interested parties how it is doing.
Annuity
~Dutch: Lijfrente
With an annuity, a person saves for an extra income with which they can supplement their AOW and pension, after retirement.
Approval of the annual accounts
~Dutch: Jaarstukken goedkeuren
Official agreement with and approval of the annual statements by the shareholders or members of an organisation.
Arbitration
~Dutch: Arbitrage
The formal process of having an outsider, chosen by both sides in a disagreement, end the disagreement.
Articles of association
~Dutch: Statuten
The articles of association state why the legal entity is established, who is responsible for what, and which rules and procedures apply. They are part of the deed of incorporation.
Assets (fixed, floating)
~Dutch: Activa (vaste, vlottende)
Money, or goods worth money, that a company has.
Association
~Dutch: Vereniging
An association is an organisation that does not have profit as its main objective. Most associations focus on organising social activities.
Association with Full Legal Capacity
~Dutch: Vereniging met volledige rechtsbevoegdheid
Has the same rights and duties as a natural person. For example, they can take out loans and own and inherit registered property. Only associations with full legal capacities are eligible for subsidies.
Association with Limited Legal Capacity
~Dutch: Vereniging met beperkte rechtsbevoegdheid
An association in which both the association and the members are privately liable.
ATA carnet (temporary admission certificate)
~Dutch: ATA Carnet
An international customs document used to quickly file export declarations in the Netherlands, and import declarations in the country of destination.
Attorney-in-fact
~Dutch: Gevolmachtigde - tekenbevoegd
Being authorised to act on behalf of someone else.
B
Bailiff
~Dutch: Deurwaarder
An official who takes possession of someone's property when they cannot pay their debts.
Balance sheet
~Dutch: Balans
A statement of assets, liabilities, and equity at a particular point in time (usually 31 December). All debts, goods, and outstanding accounts are included.
Bank account
~Dutch: Bankrekening
An account at a bank that is used to make or receive payments.
Bankrupt
~Dutch: Failliet
When a company has more debt than income and must close.
Bankruptcy
~Dutch: Failliet
When a company has more debt than income and must close.
Barrier to the labour market
~Dutch: Afstand tot de arbeidsmarkt
If a person does not (easily) qualify for a regular job, or finds it difficult to do so.
Bereavement support team
~Dutch: Nabestaandendesk
Department at KVK. Helps to arrange practical matters concerning the business when the owner has died.
Betterment levy
~Dutch: Baatbelasting
When a municipality changes,improves an area where a business is located and that business benefits from that change, it may have to pay a betterment levy.
Bill of lading
~Dutch: Vrachtbrief (zeevervoer)
A document used in the transport of goods by water,sea that contains detailed information about the goods.
Board member
~Dutch: Bestuurslid
An individual who is part of the governing body of an organisation or company.
Board of (managing) directors
~Dutch: Raad van bestuur
The board is responsible for the day-to-day management of a company.
Board of supervisors
~Dutch: Raad van toezicht, Raad van commissarissen
The supervisory board supervises the management of a business.
Bookkeeper
~Dutch: Accountant
A professional hired to do the bookkeeping, the business administration for a business.
Bookkeeping
~Dutch: Boekhouding
Records of all financial data of a company.
Branch
~Dutch: Nevenvestiging
A location of a company, usually with only one task, like sales or warehousing.
Branch office
~Dutch: Vestiging, Bijkantoor
An extra (second, third, fourth, etc) location of a business, in addition to the main office, or headquarters.
Brand(name)
~Dutch: Merk(naam)
A name for a product (range) to make it stand out from other, similar products.
Brick and mortar
~Dutch: Winkelpand
A shop in a building.
Budget Day
~Dutch: Prinsjesdag
On this day, the government announces its plans for the year ahead in a special ceremony, which includes a speech from the King.
Business bank account
~Dutch: Zakelijke bankrekening
A bank account for a company. Everything the business owner buys or sells goes through this account.
Business liability insurance
~Dutch: Bedrijfsaansprakelijkheidsverzekering
An insurance policy that pays for certain types of damage caused by a company.
Business licence requirements
~Dutch: Vestigingsvergunning voorwaarden
The things a company has to do to be allowed to use a certain location.
Business operations
~Dutch: Ondernemingsactiviteiten
What a company does to make money.
Business plan
~Dutch: Ondernemingsplan
A strategic document that summarises the plans and goals for a business and the strategy on how to achieve these goals.
Business property
~Dutch: Bedrijfspand
The building(s) in which a company is located.
Business Register
~Dutch: Handelsregister
The official list of all businesses and organisations in the Netherlands.
Business Register number
~Dutch: Handelsregisternummer
The number a business receives when registering with KVK.
Business sector
~Dutch: Branche, Bedrijfstak
A specific category or field of economic activity or business. For example, the hospitality industry.
Business structure
~Dutch: Ondernemingsstructuur, Rechtsvorm
How a business is organised, according to the legal structure. Among other things, it determines (private) liability for debts and tax liabilities.
C
Capital
~Dutch: Kapitaal
Money and assets of a company.
Cash book
~Dutch: Kasboek
Where an entrepreneur writes down cash payments from customers and cash purchases for their company.
Cash flow
~Dutch: Cash flow
Overview of money coming into a company and going out.
CE marking
~Dutch: CE Keurmerk
An EU quality mark indicating that the product meets the safety, health, and environmental requirements set by the EU.
Central government
~Dutch: De overheid
The Dutch central government is responsible for nationwide legislation. Located in Den Haag, it consists of different ministries.
Certificate
~Dutch: Diploma
A document that proves that a person has completed a training or education.
Certificate of conduct
~Dutch: Verklaring omtrent het gedrag (VOG)
A document that proves that a person has not committed any crimes.
Certificate of origin
~Dutch: Certificaat van oorsprong
A document stating the country where a product, or its parts, is originally from.
Chairman of the board
~Dutch: Voorzitter
The leader of the board. Manages the meetings of the board and determines the agenda.
Citizen Service Number (BSN)
~Dutch: Burgerservicenummer (BSN)
A unique personal number assigned to everyone registered as a citizen in the Netherlands. Used for identification to government agencies. Provided by the municipality when a person registers to live there.
Civil-law notary
~Dutch: Notaris
A person who makes agreements and declarations legally valid by recording them in a notarial act.
Claim
~Dutch: Vordering
A demand or request for something someone considers they are entitled to.
Collective labour agreement (CAO)
~Dutch: Collectieve Arbeidsovereenkomst
Collective agreements between employers (or employers' organisations) and employees (trade unions) about, for example, wages, working hours, notice periods, or pensions.
Combined residence and work permit (GVVA)
~Dutch: Gecombineerde vergunning voor verblijf en arbeid (GVVA)
This combined permit allows a person to live and work in the Netherlands.
Commodities
~Dutch: Goederen
Goods, products.
Commodities Act
~Dutch: Warenwet
Law that applies to the production, preparation and trade in food or other consumer products in the Netherlands.
Commodity code
~Dutch: Goederencode
Codes used by customs around the world to classify products. HS stand for Harmonised System.
Company address
~Dutch: Adres rechtspersoon
The address where the business of a legal entity is formally located.
Company car
~Dutch: Bedrijfsauto
A car owned by a company, to be used for work.
Competition
~Dutch: Concurrenten
Companies that make money by selling similar products or services.
Competitors
~Dutch: Concurrenten
Companies that make money by selling similar products or services.
Complete in duplicate, in triplicate
~Dutch: Invullen in tweevoud,drievoud
Completing a form or document in 2 or 3 identical copies.
Confidentiality agreement
~Dutch: Geheimhoudingsovereenkomst (NDA), Vertrouwelijkheidsovereenkomst
A contract by which one or more parties agree to keep information that they have shared with each other secret.
Consignment note
~Dutch: Vrachtbrief
Document accompanying goods during transport. It serves as proof that a contract for carriage has been concluded and describes its content.
Contract
~Dutch: Overeenkomst, Contract
A document in which 2 or more parties promise to work together in a certain way.
Cooperative
~Dutch: Cooperatie
A collective that consists of members. The profit is divided in proportion to the work that each member has performed. Control for the cooperative rests with the 'general meeting of members'.
Corporate income tax
~Dutch: Vennootschapsbelasting
Private and public limited companies (bv and nv) pay corporate income tax on the taxable profit in a single financial year
Corporate social responsibility (CSR)
~Dutch: Maatschappelijk verantwoord ondernemen (MVO)
Taking care to do business in a way that is fair for the people involved and does not harm the planet.
Corporate sustainability
~Dutch: Duurzaam ondernemen
Doing business in a way that does not harm the environment, or even improves it.
Cost price
~Dutch: Kostprijs
Everything that needs to be paid before selling a product or service. Such as purchasing, transport, website costs, and insurance (excluding VAT).
Country of origin
~Dutch: Land van oorsprong
The country where a product, or its parts, is originally from.
Court
~Dutch: Rechtbank
An official body that, by applying the law, decides on issues where citizens have disagreements about what they are entitled to.
Court Approval of a Private Composition (Prevention of Insolvency) Act (WHOA)
~Dutch: Wet Homologatie Onderhands Akkoord (WHOA)
A legal process in which a business at risk of going bankrupt can make agreements with (some of) the creditors and have these approved by a judge, even when not all creditors agree.
Credit union
~Dutch: Kredietunie
A non-profit cooperative of entrepreneurs who provide other entrepreneurs with credit.
Creditor
~Dutch: Crediteur
A person or a company who provides money (credit) to another person or company.
Creditworthiness
~Dutch: Kredietwaardigheid
How likely it is that someone is able to pay back a loan.
Crowdfunding
~Dutch: Crowdfunding
A group of people (the crowd) gives or loans money for the plans of a (starting) entrepreneur.
Custody
~Dutch: Voogdij
Authority over a minor exercised by someone other than the parents.
Custom-made
~Dutch: Maatwerk
Made especially for someone, made to fit.
Customs agent
~Dutch: Expediteur
A professional hired to take care of all customs formalities, such as paying taxes and submitting the correct documents on behalf of their clients.
Customs regulations
~Dutch: Douaneregelingen
Rules that apply in a country when goods go out of, or come into the country.
D
Daughter company
~Dutch: Dochtermaatschappij
A company owned or controlled by another company.
Debt
~Dutch: Schuld
Money owed; it still needs to be paid.
Debt collection agency
~Dutch: Incasso bureau
A company hired to collect money that is owed by clients who have not yet paid.
Debtor
~Dutch: Debiteur, Schuldenaar
A person or a company who owes money.
Declaration of intent
~Dutch: Intentieverklaring
An official document stating what a person or group intends to do, without the legal validity of a formal contract.
Decree on construction works in the living environment
~Dutch: Besluit bouwwerken leefomgeving (Bbl)
Outlines rules on safety, health, sustainability, and usability of structures.
Deductible expenses
~Dutch: Aftrekposten
Expenses that can be deducted from the taxable income. This means paying less tax.
Deduction of VAT
~Dutch: Btw-aftrek
The VAT on expenses for a business that may be deducted from your overall VAT return.
Deed of inheritance
~Dutch: Verklaring van erfrecht
An official document that state who the heirs are of someone who has died. Drawn up by a civil-law notary.
Deed of conversion
~Dutch: Akte van omzetting
An official document needed when changing the legal structure of a company. Drawn up by a civil-law notary.
Deed of formation (vof, stichting, vereniging)
~Dutch: Akte van oprichting (vof, stichting, vereniging)
A formal but not mandatory document in which the vof (general partnership), stichting (foundation), or vereniging (association) is set up.
Deed of incorporation
~Dutch: Oprichtingsakte BV, NV
An official document needed when setting up a bv or nv. Drawn up by a civil-law notary.
Deed of transfer
~Dutch: Akte van overdracht
A document, drawn up by a civil-law notary where the ownership of a property is transferred from the seller to the buyer.
Deposit
~Dutch: Borgsom
Pre-payment of part of the price of a product or service, as a guarantee.
Depreciation
~Dutch: Afschrijving
Instead of deducting the full cost of purchase for a business asset from your taxable income in one go, spreading it over multiple years in which the asset is used. Each year, a part of the costs can be deducted in the income or corporate tax return, until the full amount has been deducted.
Deregistration
~Dutch: Uitschrijving
Removal of a (closed down) business from the Dutch Business Register.
DigiD
~Dutch: DigiD
Digital identity; a person identifies themselves when arranging something online with a government organisation, healthcare provider, or educational institution.
Diploma
~Dutch: Diploma
A document that proves that a person has completed a training or education.
Direct debit
~Dutch: Afschrijving (rekening)
An instruction from a person to their bank. It authorises the organisation that needs to be paid to collect the money from the person's bank account.
Directive (EU)
~Dutch: Richtlijn (EU)
A legal act that defines a goal EU countries must achieve. It is up to each country to write their own laws on how to meet these goals.
Director-major shareholder
~Dutch: DGA
According to the Tax Administration, someone who holds at least 5% of the shares in a bv or nv and is also employed in the company.
Directors' liability insurance
~Dutch: Bestuurdersaansprakelijkheidsverzekering
Insurance for board members, directors, supervisors, and commissioners of organisations to protect them from compensation claims after an error in their management. This avoids personal liability.
Disability insurance
~Dutch: Arbeidsongeschiktheidsverzekering
Insurance to cover the costs if a business owner gets ill or becomes injured or incapacitated for work. It also provides funds for their family, if the entrepreneur dies in an accident.
Discontinuation profit
~Dutch: Stakingswinst
Profit that is made when a business closes down. Tax needs to be paid on this profit.
Discontinuation relief
~Dutch: Stakingsaftrek
When ending a business leads to profit, the business owner may be eligible for discontinuation relief. This means they will pay less tax on this profit.
Discount
~Dutch: Korting
When an amount or percentage is taken off the sales price, so that the buyer pays less.
Dissolution
~Dutch: Ontbinding onderneming
A formal decision to end a legal entity such as a bv or nv. After that, the business can be terminated and deregistered.
Dividend tax
~Dutch: Dividend belasting
Tax paid over a share of the profits of a company, paid once or twice a year to the people who own the company's shares.
Domain name
~Dutch: Domeinnaam
Internet address of a website.
Donation circle
~Dutch: Schenkingskring
Group of zzp'ers that agree to help each other financially in case of illness or disability.
Dropshipping
~Dutch: Dropshipping
Selling products online without owning a physical inventory. The dropshipper is the intermediate link between the supplier and the customer.
Due diligence
~Dutch: Due diligence
A careful investigation into the state of a business by a person or organisation that is thinking of buying it or investing in it.
Dutch Customs
~Dutch: Douane
The primary task of the Customs Administration of the Netherlands is to supervise the cross-border movement of goods. They levy and collect import duties, VAT, and excise duties.
Dutch Immigration and Naturalisation Service (IND)
~Dutch: Immigratie- en Naturalisatiedienst (IND)
A government organisation that evaluates all requests from people who want to reside in the Netherlands.
Dutch Pariticpation Act
~Dutch: Participatiewet
A Dutch law to guarantee everybody's right to work, to make sure that work-disabled people also can find a job.
Dutch Services Act
~Dutch: Dienstenwet
Gives people the right to deal with the government digitally.
Dutch Ships Act
~Dutch: Schepenwet
Safety requirements aiming at preventing shipping disasters at sea, addressing issues of ship safety.
Dutch Workers Allocation by Intermediaries Act
~Dutch: Waadi
This act requires companies that loan out staff as paid intermediaries to register this business activity in the KVK Business Register.
E
(EU) Regulation
~Dutch: (EU) Verordening
A law or rule set by a government (or by the EU).
EHerkenning
~Dutch: EHerkenning
A kind of DigiD for companies. 'Herkenning' means recognition. With eHerkenning, companies can log in securely with various government agencies.
EHerkenning token (EID token)
~Dutch: EHerkenningsmiddel
A digital token that is used to log in securely with various government agencies through the eHerkenning system.
Employee Insurance Agency
~Dutch: UWV
A government organisation that implements employee insurance policies, and provides labour market and data services.
Employees
~Dutch: Personeel, Werknemers
People working for a boss in salaried employ.
Employer
~Dutch: Werkgever
The boss, owner of the business or organisation.
Employer's statement
~Dutch: Werkgeversverklaring
A document containing information about the employment and income of an employee. It is proof of employment.
Employment agency
~Dutch: Uitzendbureau
A business that searches, finds and places temporary workers into positions with their client, the hiring company.
Employment contract
~Dutch: Arbeidsovereenkomst
An agreement between an employee and an employer. It contains the agreements which form the conditions of employment, such as salary and job description.
Employment Relationships Deregulation Act
~Dutch: DBA (Wet DBA)
A law intended to bring more clarity to the client-self-employed professional relationship. It needs to be clear it is not an employment relationship.
Energy tax
~Dutch: Energiebelasting
Tax paid over the use of energy.
Entrepreneur
~Dutch: Ondernemer
A business owner who engages in commercial activities and qualifies as an entrepreneur for KVK and,or tax purposes.
Entrepreneur allowance
~Dutch: Ondernemersaftrek
A combination of tax relief schemes. Provided they meet the conditions, entrepeneurs can pay less tax.
Environment and Planning Act
~Dutch: Omgevingswet
A new law for spatial development. It replaces 26 existing laws. You have to comply with the Environment and Planning Act if you want to change something in the 'physical environment'.
Environment and planning permit
~Dutch: Omgevingsvergunning
A permit you need to apply for when you expand or renovate your property, or have other plans that have an impact on the surroundings.
Environment Decree
~Dutch: Omgevingsbesluit
Outlines rules on the competent authority for environment and planning permits, on procedures, enforcement, and implementation.
Environment plan
~Dutch: Bestemmingsplan
The formal plan of a municipality that describes what may be done with space in a particular municipality. Formerly known as 'zoning plan'.
Environmental Activities Decree
~Dutch: Besluit activiteiten leefomgeving (Bal)
In this decree, the national government sets general rules for activities in the physical living environment. It applies to all parties active in the physical living environment — citizens, businesses, and government.
Environmental Quality Decree
~Dutch: Besluit kwaliteit leefomgeving (Bkl)
Outlines rules on environmental values, instruction rules, assessment rules, and monitoring rules.
Environmental Regulation
~Dutch: Omgevingsregeling
This describes how the laws related to the Environment and Planning Act must be implemented.
Environmental requirements
~Dutch: Milieu-eisen
A set of rules drawn up to protect the environment.
Environmental strategy
~Dutch: Omgevingsvisie
This sets out how a municipality wants to develop and protect their area. The environmental strategy is a long-term strategic vision for the entire physical living environment.
Environmental taxes
~Dutch: Milieubelastingen
Energy tax, the waste tax, and the tax on tap water. The government uses these environmental taxes to encourage more economical use of water, raw materials, and fuels.
Equity capital
~Dutch: Eigen vermogen
A person's private money.
Estate
~Dutch: Boedel
All the money and property that a person owns, especially everything that is left when they die.
EU Directives and Regulations
~Dutch: EU richtlijnen en verordeningen
Rules and laws drawn up by the EU that apply in EU countries.
Excise duty
~Dutch: Accijns
Indirect tax levied on the sale of certain (consumable) goods, such as alcohol, tobacco, and fuels. The government uses this to discourage use of these goods.
Executive officer
~Dutch: Bestuurder
A person who is in charge of running an organisation or business.
Executor
~Dutch: Executeur-testamentair
A person who arranges the inheritance or certain matters arising from a will. This can be one of the heirs but also someone else, such as a notary.
Exempt from VAT
~Dutch: Btw-vrijgesteld
When VAT does not apply.
Exemption
~Dutch: Ontheffing, Vrijstelling
When an obligation does not apply. For example, when a tax does not need to be paid, then that amount of income is exempted from taxation.
Expiration date
~Dutch: Vervaldatum
The date after which an official document, agreement, etc. is no longer legally valid.
Export declaration
~Dutch: Aangifte ten uitvoer
A document needed for customs when exporting goods from an EU country to a country outside the EU.
Export document
~Dutch: Exportdocument
Documents needed when exporting goods. Which documents are needed, depends on factors like product, destination country, and chosen means of transport.
Export duties
~Dutch: Uitvoerrechten
Taxes that apply when exporting goods or raw materials to countries outside the European Union, so-called third countries.
Export levies
~Dutch: Uitvoerheffingen
Any payments and taxes that you need to pay the government when exporting goods from the Netherlands. These include export duties, excise duties, handling fees, and VAT, if applicable.
Export licence
~Dutch: Uitvoervergunning
A licence, or permit granted by the government that allows the export of certain goods.
Export permit
~Dutch: Uitvoervergunning
A licence, or permit granted by the government that allows the export of certain goods.
F
Facilitator
~Dutch: Begeleider, Facilitator
Provides guidance to startups, to help them grow from a startup into a fully-fledged business.
False self-employed professional
~Dutch: Schijnzelfstandige
A self-employed professional whose relationship with their client more closely resembles employment. The Tax Administration might decide that it is in fact employment and enforce taxes, fines, and possibly other measures.
Financial administration
~Dutch: Boekhouding
Records of all financial data of a company.
Financial buffer
~Dutch: Buffer
Money saved that can be used when facing setbacks.
Financial year
~Dutch: Boekjaar
A company pays corporate income tax over the taxable profit in a single financial year. Often, a financial year is the same as a calendar year.
Financing
~Dutch: Financiering
Money for a company, for example, a loan from a bank or an investment.
Fine
~Dutch: Boete
Financial penalty for breaching a law or regulation.
Fiscal Intelligence and Investigation Service
~Dutch: FIOD
The investigative arm of the Tax Administration. They detect and fight financial fraud and tax fraud.
Forgery
~Dutch: Valsheid in geschrifte
The crime of copying money, documents, signatures, etc. in order to cheat people.
Formation deed (vof, stichting, vereniging)
~Dutch: Akte van oprichting (vof, stichting, vereniging)
A formal but not mandatory document in which the vof (general partnership), stichting (foundation), or vereniging (association) is set up.
Forwarding agent
~Dutch: Expediteur
A professional hired to take care of all customs formalities, such as paying taxes and submitting the correct documents on behalf of their clients.
Foundation
~Dutch: Stichting
A foundation is an organisation whose primary purpose is to support a social or non-profit cause. The money comes from donations, loans, subsidies, and legacies.
Franchisee
~Dutch: Franchisenemer
An entrepreneur who uses an existing concept, trade name and brand against payment to the owner of the concept, the franchiser. For example, for a shop or restaurant.
Franchiser
~Dutch: Franchisegever
A person or a company that has developed a successful concept, for example, a bakery shop. For a fee, other entrepreneurs can use this concept, trade name and brand.
Fraud
~Dutch: Oplichting
The crime of cheating somebody in order to get money or goods illegally.
Freelancer
~Dutch: Zelfstandige, Zzp'er (zelfstandige zonder personeel), Freelancer
An independent professional, usually with a specific expertise, who works for other companies and/or private individuals independently.
Freight
~Dutch: Vracht
A bulk of goods being transported.
Fringe benefits
~Dutch: Secondaire arbeidsvoorwaarden
Additional rewards employers offer their employees on top of their salary.
G
General Data Protection Regulation (GDPR)
~Dutch: Algemene Verordening Gegevensbescherming (AVG)
The GDPR is a European privacy regulation. It ensures the careful processing of personal data by businesses and organisations.
General Municipal Bylaw (APV)
~Dutch: Algemene Plaatselijke Verordening (APV)
The APV describes various regulations related to public order and safety in municipalities.
General partnership
~Dutch: VOF, Vereniging onder firma
A company in which at least 2 people work together. They record how they work together in a contract. Each participant is personally liable for the entire partnership.
General shareholders' meeting
~Dutch: Algemene aandeelhoudersvergadering
The general shareholders' meeting of a company consists of all shareholders and is the highest body of the company. The members vote on important issues.
General tax reduction(s)
~Dutch: Heffingskortingen
General tax reduction(s) are tax credits. This means paying less tax.
General terms and conditions
~Dutch: Leverings- en betalingsvoorwaarden (algemene voorwaarden)
The general terms and conditions describe the standard conditions for all the transactions with an organisation or self-employed person.
Goods in transit insurance
~Dutch: Transportverzekering
An insurance for goods while these are being transported.
Government Gazette
~Dutch: Staatscourant
A newspaper published by the Dutch state containing new laws and various government announcements.
Gross profit
~Dutch: Bruto winst
The total sales amount (turnover) minus the total cost of sales, for example, the cost of production.
Groundwater tax
~Dutch: Grondwaterheffing
If a business extracts groundwater, the business owner has to pay groundwater tax to the provincial authority.
H
HACCP
~Dutch: Sociale hygiene
HACCP (Hazard Analysis and Critical Control Points) plan is an analysis of risks involved in the food production process and the procedures for controlling these risks.
Health (care) insurance
~Dutch: Ziektekostenverzekering, Zorgverzekering
An insurance that covers (part of) the costs of regular medical care, such as doctor (GP) visits, hospitalisation, pharmacy prescriptions, etc. Mandatory for all citizens in the Netherlands.
Healthcare Insurance Act
~Dutch: Zorgverzekeringswet
The law that makes health insurance mandatory for everyone.
Heir
~Dutch: Erfgenaam
The person who inherits from somebody who has died.
Higher professional education
~Dutch: Hoger Beroeps Onderwijs (HBO)
A higher education institution with profession-oriented (vocational) study programmes. Graduates earn a bachelor's degree.
Holder of a power of attorney
~Dutch: Gevolmachtigde - tekenbevoegd
Being authorised to act on behalf of someone else.
Holding company
~Dutch: Holding
The highest company in a group of companies. Also called a parent company.
Homologation
~Dutch: Homologatie
If the vast majority of creditors agree (bankruptcy agreement) with the curator's proposal, the court must approve this. This is called homologation.
Hours criterion
~Dutch: Urencriterium
The number of hours a zzp'er has to work for their business to receive tax benefits.
HS Code
~Dutch: Goederencode
Codes used by customs around the world to classify products. HS stand for Harmonised System.
I
Import duties
~Dutch: Invoerrechten
Taxes that apply to importing goods or raw materials from countries outside the European Union, so-called third countries.
Import levies
~Dutch: Invoerheffingen
Any payments and taxes that you need to pay the government when importing goods into the Netherlands. These include import duties, excise duties, handling fees, and VAT, if applicable.
Import licence
~Dutch: Invoervergunning
A licence, or permit granted by the government that allows the import of certain goods.
Import permit
~Dutch: Invoervergunning
A licence, or permit granted by the government that allows the import of certain goods.
Import restrictions
~Dutch: Invoerbeperkingen
When rules apply to the import of certain products. For example, to protect the health of people in the importing country.
In (the process of) formation
~Dutch: In oprichting
The period of setting up a company when not everything is formalised, but it can already do business.
Incapacity for work
~Dutch: Arbeidsongeschiktheid
When a person is not able to work, due to illness or physical or mental limitations.
Income tax
~Dutch: Inkomstenbelasting
The tax that needs to be paid over your profit, if you have a sole proprietorship (eenmanszaak) or vof.
Incorporation deed
~Dutch: Oprichtingsakte BV, NV
An official document needed when setting up a bv or nv. Drawn up by a civil-law notary.
Increase in turnover
~Dutch: Omzetstijging
When more products are sold than previously.
Increased sales
~Dutch: Omzetstijging
When more products are sold than previously.
Indemnification
~Dutch: Vrijwaring
Protection against financial loss or damage; a legal exemption from responsibility.
Indemnity
~Dutch: Beroepsaansprakelijkheid
An entrepreneur is liable, (responsible), for mistakes they make that cause damage or financial loss to their client.
Indemnity insurance
~Dutch: Beroepsaansprakelijkheidsverzekering
An insurance that protects an entrepreneur when their client suffers financial loss due to a professional error on the entrepreneur's part.
Industry
~Dutch: Branche, Bedrijfstak
A specific category or field of economic activity or business. For example, the hospitality industry.
Infringement (of rights)
~Dutch: Inbreuk op
The act of breaking the terms of a law, rules or agreement. An unauthorised action.
Innovation
~Dutch: Innovatie
New idea or product to do something smarter, better or faster.
Input tax
~Dutch: Voorbelasting
An advanced tax payment (levy) paid by a business on acquired goods and services.
Insurance
~Dutch: Verzekering
A financial arrangement that provides coverage and compensation for specified risks.
Insurance premium tax
~Dutch: Assurantiebelasting
When taking out insurance in the Netherlands, insurance premium tax needs to be paid.
Intellectual property
~Dutch: Intellectueel eigendom
Ownership of something created with the mind, such as inventions, designs and literary works.
Intra-Community
~Dutch: Intracommunautair
Within the EU. For example, when a Dutch entrepreneur exports goods to another EU country it is called Intra-Community supply.
Invalidity benefit
~Dutch: Arbeidsongeschiktheidsuitkering
An employee insurance benefit paid to a person who can no longer work due to illness or disability.
Inventory
~Dutch: Inventaris (lijst)
A detailed list of all the items or goods in stock within a business or organisation.
Invested capital
~Dutch: Geïnvesteerd kapitaal
Money that is used to invest, with the intention of making a profit.
Investment
~Dutch: Investering
Money (or time, or human resources) put into a company, for example, that will pay out in the longer term.
Investment credit
~Dutch: Investeringsaftrek
When investing in business assets, the investor is eligible to deduct part of this investment from their profits.
Invoice
~Dutch: Factuur
A document from the seller to the buyer, stating what they must pay for a product or service.
Invoice declaration
~Dutch: Factuurverklaring
A default text that exporters can include on a sales invoice to declare that the goods they are delivering to their customer are of 'preferential origin'.
J
Joint venture
~Dutch: Joint venture
A joint venture is an agreement between existing companies to work together. The companies retain their independence.
K
KVK Extract
~Dutch: KVK uittreksel (afschrift van origineel)
Proof of registration of a company in the KVK Business Register.
KVK number
~Dutch: Handelsregisternummer
The number a business receives when registering with KVK.
L
Label
~Dutch: Etiket
Mandatory, contains the ingredients of a product, and,or instructions on how to handle a product.
Land Registry Office
~Dutch: Kadaster
A government organisation that registers who has which rights in regard to real estate (land and buildings) in the Netherlands .
Landfill tax
~Dutch: Afvalstoffenbelasting
When operating a waste processing plant that has a landfill site or when owning a waste incineration plant, the business owner must pay landfill tax.
Landlord
~Dutch: Verhuurder
The owner of a building who lets others rent (part of) that building.
Last will (and testament)
~Dutch: Testament
A official document that states how their possessions should be distributed after someone has died.
Law
~Dutch: De wet
Laws are rules made by a government that the people have to abide by.
Lawful
~Dutch: Rechtmatig
According to the law.
Lease
~Dutch: Huurcontract
A contract with the owner of a building to rent (part of) that building.
Lease car
~Dutch: Leaseauto
A car that is rented or hired for a specified period in exchange for regular payments.
Leasing company
~Dutch: Leasebedrijf (auto's)
A business that specialises in providing leased vehicles, usually cars.
Ledger
~Dutch: Kasboek
Where an entrepreneur writes down cash payments from customers and cash purchases for their company.
Legal Entities and Partnerships Information Number (RSIN)
~Dutch: RSIN
A unique number that organisations can use to easily share information with each other. It is on the extract from the Business Register.
Legal entity
~Dutch: Rechtspersoon, Rechtspersoonlijkheid
Companies and organisations with legal personality have the rights and obligations that natural persons and people have.
Legal expenses insurance
~Dutch: Rechtsbijstandsverzekering
An insurance policy that offers help and advice with legal problems.
Legal obligation
~Dutch: Wettelijke verplichting
The legal obligation to abide by the law.
Legal person
~Dutch: Rechtspersoon, Rechtspersoonlijkheid
Companies and organisations with legal personality have the rights and obligations that natural persons and people have.
Legal personality
~Dutch: Rechtspersoon, Rechtspersoonlijkheid
Companies and organisations with legal personality have the rights and obligations that natural persons and people have.
Legal proceedings
~Dutch: Juridische procedures
Presenting an issue to a judge who then decides on the matter.
Legal structure
~Dutch: Ondernemingsstructuur, Rechtsvorm
How a business is organised, according to the legal structure. Among other things, it determines (private) liability for debts and tax liabilities.
Legislation
~Dutch: Wetgeving
The preparation and execution of laws by local, state, or national governments.
Legislator
~Dutch: Wetgever
Someone who is responsible for making laws.
Letterbox company
~Dutch: Brievenbusfirma
A company that only has a postal address and no staff or office. A business may choose to do this because of financial advantages.
Liability insurance
~Dutch: Aansprakelijkheidsverzekering
Insurance that offers protection against claims resulting from injuries or damage caused by a business.
Liable (jointly and severally)
~Dutch: Aansprakelijk (hoofdelijk)
Legally responsible, either individually or together with others, for certain obligations or debts.
Liable for VAT
~Dutch: Btw-plichtig
If a company is considered an entrepreneur for tax purposes, that company will receive a VAT number and be liable for VAT.
Liberal professions
~Dutch: Vrije beroepen
Occupations or careers that require special qualifications and expertise, often self-employed or freelance. Examples include lawyers, architects, GPs, and translators.
Limited legal capacity
~Dutch: Beperkte rechtsbevoegdheid
A statement from the judge that gives adult powers to a minor of 16 or 17-years-old.
Limited liability
~Dutch: Beperkte aansprakelijkheid
Shareholders are only legally responsible for the debts of a company up to the value of their shares. Their liability is limited.
Limited partner
~Dutch: Commanditair vennoot
The managing partners in a limited partnership (commanditaire vennootschap, cv).
Limited partnership
~Dutch: CV (Commanditaire vennootschap)
In a cv, the financial backer becomes a partner in the business. They are referred to as a limited, sleeping, or silent partner.
Liquid assets
~Dutch: Liquide middelen
Available money consisting of cash (coins and notes) and transferable money (in the bank).
Liquidation
~Dutch: Vereffening, Liquidatie
When a business has debts it cannot pay, the business closes and all capital and assets in the business are used to pay off these debts.
Local authorities
~Dutch: Gemeente, Gemeentelijke overheden
A city, town or district that has a local government. They focus on their own rules, like zoning plans. They also arrange official papers like a passport, driving licence or birth certificate, and citizen service numbers.
Local authority
~Dutch: Plaatselijke overheid
The governing body responsible for local government and services within a specific area. For example, a municipality, waterboard, and police force.
M
Management board
~Dutch: Raad van bestuur
The board is responsible for the day-to-day management of a company.
Managing director
~Dutch: Bestuurder
A person who is in charge of running an organisation or business.
Manufacture
~Dutch: Fabricage
Making goods or products, usually through industrial or mechanical means.
Margin
~Dutch: Marge
The difference between the selling price and the cost price.
Market research
~Dutch: Marktonderzoek
Research of the market (for a product or service) including consumers, competitors, and location.
Market stall
~Dutch: Standplaats, Marktkraam
A temporary structure or booth used for selling goods or services at a market or fair.
Market stand
~Dutch: Standplaats, Marktkraam
A temporary structure or booth used for selling goods or services at a market or fair.
Marketing
~Dutch: Marketing
The activities involved in promoting and selling products or services, including advertising and market research.
Member of the board
~Dutch: Bestuurslid
An individual who is part of the governing body of an organisation or company.
Memorandum of sale
~Dutch: Verkoopmemorandum
A document used when selling a company. It gives potential buyers insight into what the company is, and how much it is worth.
Mergers and acquisitions
~Dutch: Fusies en overnames
The process of combining two or more companies by joining together or buying other businesses.
Message Box
~Dutch: Berichtenbox
An official, secure and reliable email system that companies use to communicate with the government.
Ministry of Agriculture, Fisheries, Food Security and Nature
~Dutch: Ministerie van Landbouw, Visserij, Voedselzekerheid en Natuur
The government ministry whose policy areas include agriculture, wildlife management, forestry, fisheries, and food.
Ministry of Climate Policy and Green Growth
~Dutch: Ministerie van Klimaat en Groene Groei
The government ministry that is responsible for coordination of the climate policy, industry sustainability, Climate Fund, energy policy, mining.
Ministry of Economic Affairs
~Dutch: Ministerie van Economische Zaken
The government minstry that deals with all matters related to the Dutch economy, such as trade, industry, communications, business, innovation and consumer affairs
Ministry of Education, Culture and Science
~Dutch: Ministerie van Onderwijs, Cultuur en Wetenschap
This government ministry has 3 major policy areas: education, science (including higher education) and cultural policy (including media), and emancipation policy.
Ministry of Finance
~Dutch: Ministerie van Financiën
The government ministry that is responsible for the income and expenditure of the national government; domestic financial-economic policy; the functioning of the financial markets, financial institutions, and payments; coordinating financial-economic policy at European and global levels.
Ministry of Foreign Affairs
~Dutch: Ministerie van Buitenlandse Zaken
The government ministry that is tasked with preparing, coordinating and implementing foreign policy.
Ministry of Health, Welfare and Sport
~Dutch: Ministerie van Volksgezondheid, Welzijn en Sport
The government ministry that is responsible for public health, including policies relating to hospitals, medicines, medical expenses, and general practitioners; preventive healthcare, public health and food safety; care for the elderly, youth policy, social-cultural work, addiction care, and the provision of social services; policy on sports.
Ministry of Infrastructure and Water Management
~Dutch: Ministerie van Infrastructuur en Waterstaat
The government ministry that deals with road infrastructure, water, shipping, aviation, bicycle policy; public transport and rail; sustainable transport, traffic emissions, and fuels.
Ministry of Justice and Security
~Dutch: Ministerie van Justitie en Veiligheid
The government ministry that deals with the rule of law at all stages in the Netherlands. This includes legislation, prevention, enforcement, sentencing, and victim support.
Ministry of Social Affairs and Employment
~Dutch: Ministerie van Sociale Zaken en Werkgelegenheid
The government ministry that is responsible for labour market policy, including migration and free movement of workers, benefits and reintegration, income policy, working conditions policy, and inspection of that policy.
Ministry of the Interior and Kingdom Relations
~Dutch: Ministerie van Binnenlandse Zaken en Koninkrijksrelaties
The government ministry that deals with democracy and the rule of law, public administration, housing, the Dutch constitution, participation and integration of new residents.
Minor
~Dutch: Minderjarig
A person who has not reached the legal age of adulthood; under 18 years old.
Mismanagement
~Dutch: Wanbeleid
Poor or inefficient management of a business or organisation.
Money transfer
~Dutch: Overboeking
Money paid from a bank account to the receivers' bank account.
Moratorium
~Dutch: Surséance van betaling
If a business has temporary financial problems, paying its debts can be delayed.
Mortgage
~Dutch: Hypotheek
A loan to buy a building. A house or a business premises.
Motor vehicle tax (mrb)
~Dutch: Motorrijtuigenbelasting
Tax paid for most company cars, vans, and trucks, once every 3 months.
Municipal Health Service (GGD)
~Dutch: Gemeentelijke Gezondheidsdienst (GGD)
A public health organisation that falls under the municipality.
Municipal personal records database (GBA)
~Dutch: Gemeentelijke Basisadministratie (GBA)
A local government database that contains personal information of residents.
Municipality
~Dutch: Gemeente, Gemeentelijke overheden
A city, town or district that has a local government. They focus on their own rules, like zoning plans. They also arrange official papers like a passport, driving licence or birth certificate, and citizen service numbers.
Mutual insurance company
~Dutch: Onderlinge waarborgmaatschappij
An insurance company owned by its policyholders, providing insurance coverage for specific risks within the group.
N
National insurance contributions
~Dutch: Premie volksverzekering
Everyone who lives or works in the Netherlands is covered by the national insurance schemes for state pension (AOW) and surviving dependants (ANW). The contributions are withheld by the employer from employees' salaries.
National Vehicle and Driving Licence Registration Authority
~Dutch: RDW
A government organisation that contributes to making road transport in the Netherlands safe, clean, economically viable and well-regulated.
Natural person
~Dutch: Natuurlijk persoon
A human being, a person.
Nature Conservation Act
~Dutch: Natuurbeschermingswetvergunning
Law that protects nature and the environment in the Netherlands.
Net profit
~Dutch: Nettowinst
The money that is left over after all of a company's expenses have been paid.
Net turnover
~Dutch: Netto omzet
Gross profit minus operating expenses, interest expenses, tax and depreciation.
Netherlands Chamber of Commerce KVK
~Dutch: Kamer van Koophandel (KVK)
KVK is a public service provider that manages the Dutch Business Register (Handelsregister), and provides information, advice, and support to Dutch businesses.
Netherlands Enterprise Agency
~Dutch: RVO
A government organisation that helps business owners run sustainable, agricultural, innovative or international businesses
Netherlands Food and Consumer Product Safety Authority
~Dutch: Nederlandse Voedsel- & Warenauthoriteit, NVWA
A government organisation that oversees the safety of food and consumer products, animal welfare and the protection of nature.
Netherlands Tax Administration
~Dutch: Belastingdienst
A government organisation that levies and collects tax and excise duties and pays out allowances.
NGO (non-governmental organisation)
~Dutch: NGO (non-governmentele organisatie)
An NGO is a non-profit organisation with a societal, social, or scientific purpose. NGOs do not aim to make a profit.
Non-compete clause
~Dutch: Concurrentiebeding
An agreement that forbids an employee to go work for a competing company.
Non-residents Records Database (RNI)
~Dutch: Registratie Niet Ingezetenen (RNI)
A register with data of all registered people who live in the Netherlands shorter than 90 days.
Nondisclosure agreement (NDA)
~Dutch: Geheimhoudingsovereenkomst (NDA), Vertrouwelijkheidsovereenkomst
A contract by which one or more parties agree to keep information that they have shared with each other secret.
Not legally competent
~Dutch: Niet handelingsbekwaam
Minors are not allowed to make legally binding decisions, like entering into a contract. This is only possible together with their parents or guardians.
Notification of occupancy
~Dutch: Gebruiksmelding (brandveiligheid)
In regard to fire safety, for certain types of buildings a notification of occupancy needs to be submited to the municipality. In this notification, you outline the fire safety measures taken for the building, among other things.
O
Of legal age
~Dutch: Meerderjarig
18 years and older, legally adult.
Off-licence
~Dutch: Alcohol vergunning voor verkoop
An alcohol licence that allows a shop to sell alcohol for consumption elsewhere. Such a shop can also be called an off-licene.
Omgevingsloket
~Dutch: Omgevingsloket
The online point of contact where you can apply for permits, look up the rules, or make a notification.
On-licence
~Dutch: Alcohol vergunning voor gebruik
An alcohol licence to serve alcohol. For example, a restaurant that serves wine has an on-licence.
Online platform
~Dutch: Online platform
A digital environment where separate but interdependent users can communicate, share information, and collaborate.
Operating expenses
~Dutch: Bedrijfslasten
The costs of running a business. This includes rent, payroll, and equipment.
Order of dissolution
~Dutch: Ontbindingsbeschikking
When the KVK determines that a legal entity has to be dissolved and closed, it will publish an order of dissolution in het Business Register and the Government Gazette.
Outstanding invoices
~Dutch: Openstaande facturen
Invoices that have not yet been paid.
P
(Provisional) Residence permit
~Dutch: Machtiging tot voorlopig verblijf
With this visa, a person can enter the Netherlands and stay longer than 90 days.
Parent company
~Dutch: Moederbedrijf
A company that owns one or more other companies.
Part-time entrepreneurship
~Dutch: Parttime ondernemen
Part-time business alongside a job, studies, or benefits.
Partner
~Dutch: Maat
The partners running a professional partnership, a maatschap.
Patent
~Dutch: Octrooi
An exclusive right that protects an invention; it protects the intellectual property of the inventor.
Payment demand
~Dutch: Aanmaning
A warning from a seller,supplier that payment must be made now.
Payment instalments
~Dutch: Betaaltermijnen
When you split a bigger payment into smaller amounts, and you give each amount a payment deadline spread over a longer time period. These are then called installments. For example, paying an amount once a month.
Payroll tax
~Dutch: Loonbelasting
When a business owner employs staff, they pay Payroll tax. It consists of wage tax, and several national insurance contributions.
Payroll tax number
~Dutch: Loonheffingennummer
A number required to file the staff payroll tax return with the Tax Administration.
Pension insurance
~Dutch: Pensioenverzekering
An insurance policy taken out by an employer with a pension fund or insurer to provide retirement benefits to its employees.
Performance review
~Dutch: Beoordelingsgesprek
End of year meeting with staff for a relatively one-sided conversation in which the employer reviews their performance.
Perks
~Dutch: Secondaire arbeidsvoorwaarden
Additional rewards employers offer their employees on top of their salary.
Permanent residence permit
~Dutch: Verblijfsvergunning
A permit that allows a person to live in the Netherlands long-term.
Permit
~Dutch: Vergunning
A formal document issued by a (local) government organisation that gives permission.
Personal Records Database (BRP)
~Dutch: Basisregistratie Personen (BRP)
A register with data of all registered people living in the Netherlands.
Personnel
~Dutch: Personeel, Werknemers
People working for a boss in salaried employ.
Pop-up store
~Dutch: Pop-upstore
A temporary shop, usually in an empty shop building.
POS (point-of-sale) terminal
~Dutch: Pinapparaat
A machine in a shop or restaurant that allows a client to pay with their bank card.
Preferential origin
~Dutch: Oorsprongsregeling
Part of a trade agreement regarding certain goods. These goods must be manufactured from raw materials or components which have been grown or produced in the designated country.
Preliminary relief proceedings
~Dutch: Kort geding
A brief civil procedure for urgent legal matters that by their nature need to be decided by the court quickly.
Premises
~Dutch: Bedrijfspand
The building(s) in which a company is located.
Premium
~Dutch: Premie
An amount per month, quarter or year to be paid.
Premiums for social insurances
~Dutch: Premie sociale verzekeringen
Payments for national insurance contributions and employee insurance contributions. Employers deduct these premiums from the staff's wages.
Price offer
~Dutch: Offerte
A formal offer to sell a product or service, containing the price and conditions.
Private business ownership allowance
~Dutch: Zelfstandigenaftrek
A tax deduction for sole proprietors. They pay less tax because they can deduct a fixed amount from their annual gross profit.
Private limited company
~Dutch: BV (besloten vennootschap)
A bv is a business structure with legal personality. This means that the bv is liable for any debts, rather than the director as an individual. The director is an employee of the bv and acts on its behalf.
Product liability
~Dutch: Productaansprakelijkheid
The manufacturer of a product is liable (responsible) for any damage caused by faults in that product.
Professional liability
~Dutch: Beroepsaansprakelijkheid
An entrepreneur is liable, (responsible), for mistakes they make that cause damage or financial loss to their client.
Professional liability insurance
~Dutch: Beroepsaansprakelijkheidsverzekering
An insurance that protects an entrepreneur when their client suffers financial loss due to a professional error on the entrepreneur's part.
Professional partnership
~Dutch: Maatschap
A business structure where the owners practice their profession alongside each other under a shared business name.
Professional qualifications
~Dutch: Professionele qualificatie
Proof, such as diplomas, that a person has the knowledge and skills to practise a certain profession.
Profit
~Dutch: Winst
The money that is left after all the costs have been deducted from the turnover.
Profit and loss account
~Dutch: Verlies- en winstrekening
A financial overview of income (revenue) and costs during a specific period. This shows the correct financial position at the end of that period.
Profitable
~Dutch: Rendabel
When a business or the sales of a product are making money.
Proof of identification (ID)
~Dutch: Legitimatiebewijs
A formal document, such as a passport, that proves that someone is who they say they are.
Property tax (OZB)
~Dutch: Onroerendezaakbelasting (OZB)
Tax that needs to be paid when owning a commercial property. It is billed by the municipality. The municipality sets the amount.
Property transfer tax
~Dutch: Overdrachtsbelasting
Tax that needs to be paid when becoming the owner of immovable property, such as business premises, or a residential building.
Province
~Dutch: Provincie, Proviciale overheden
An area within the Netherlands with its own regional administration. There are 12 provinces in the Netherlands.
Provincial authorities
~Dutch: Provincie, Proviciale overheden
An area within the Netherlands with its own regional administration. There are 12 provinces in the Netherlands.
Provisional tax assessment
~Dutch: Voorlopige aanslag
A estimation of a company's turnover and how much tax will have to be paid over it. Sent by the Tax Administration each January.
Public limited company
~Dutch: NV (naamloze vennootschap)
The directors are responsible for the daily management of the company. The ultimate power lies with the shareholders.
Purchase contract
~Dutch: Koopcontract
An agreement between a buying and selling party.
Q
Quotation
~Dutch: Offerte
A formal offer to sell a product or service, containing the price and conditions.
R
(Road transport) Waybill
~Dutch: Vrachtbrief (wegvervoer)
A document used in the transport of goods by road that contains detailed information about the goods.
Rate (per hour)
~Dutch: (Uur)Tarief
The rate a freelancer asks for their work (per hour).
Redundancy payment
~Dutch: Wachtgeld
When an employee loses their job due to reorganisation they receive a transition payment.
Refund of import duties and VAT
~Dutch: Teruggaaf van invoerrechten en btw
When importing goods via another EU country, the importer is liable for VAT in that country. They can claim a refund of the paid duties from the Netherlands Tax Administration.
Regional water authorities
~Dutch: Waterschappen
A governmental organisation responsible for the water management in an area. There are 21 regional water authorities in the Netherlands.
Registration number
~Dutch: Handelsregisternummer
The number a business receives when registering with KVK.
Regulated professions
~Dutch: Gereglementeerd beroep
Professions where a person needs to prove that they have the right education and professional experience to practise this profession.
Reminder
~Dutch: Betalingsherinnering
A letter reminding that a payment is overdue and needs to be paid.
Rental contract
~Dutch: Huurcontract
A contract with the owner of a building to rent (part of) that building.
Required by law
~Dutch: Wettelijk vereist
What the law demands.
Resignation
~Dutch: Uittreding
Quitting a job or position.
Retail (trade)
~Dutch: Detailhandel
Shops that sell goods for personal use to consumers.
Retention period
~Dutch: Bewaartermijn
The period of time for which something needs to be kept. For example business administration records.
Retirement
~Dutch: Uittreding (pensioen)
When a person stops working because of old age. In 2024, the retirment age in the Netherlands is 67.
Retirement reserve
~Dutch: Oudedagsreserve
Savings accrued by setting aside part of the profit every year. Taxes over this amount are postponed until retirement.
Retroactive effect
~Dutch: Terugwerkende kracht
Something happening now that has an effect on the past. For example an insurance per 1 February, is valid with retroactive effect from 1 January.
Reverse-charged VAT
~Dutch: Verlegde btw
Reverse-charged VAT moves the responsibility for the recording of a VAT transaction from the seller to the buyer for that good or service.
S
Salaried employ
~Dutch: Loondienst
When working for a boss the employee receives a salary. The employee is then in salaried employment.
Sales price
~Dutch: Verkoopprijs
The price the customer pays. Cost price plus margin and VAT.
SBI code (standard industrial classification)
~Dutch: SBI-code (standaard bedrijfsindeling)
SBI codes classify companies according to their business activities. Used by the government.
Scheme
~Dutch: Regeling
Arrangement from the government, usually financial support.
Self-employed professional
~Dutch: Zelfstandige, Zzp'er (zelfstandige zonder personeel), Freelancer
An independent professional, usually with a specific expertise, who works for other companies and/or private individuals independently.
Share
~Dutch: Aandeel
A certificate of ownership of a part of a company.
Shareholder
~Dutch: Aandeelhouder
Someone who has shares in a company. A sole shareholder is one person who has all the shares.
Shareholders' meeting
~Dutch: Aandeelhoudersvergadering
A meeting open to all the shareholders of a company where important decisions are made.
Sheltered workshop
~Dutch: Sociale werkplaats
A workplace for people who cannot find work in a regular company, such as people with intellectual, physical, or other disabilities.
Shop premises
~Dutch: Winkelpand
A shop in a building.
Short-stay visa
~Dutch: Shengenvisum
With this short-stay visa, a person can enter the Netherlands and stay no longer than 90 days. Also known als Shengen visa.
Sickness benefit
~Dutch: Uitkering ziektewet
Financial support from the government when an employee can no longer work due to illness or physical incapacity.
Small and medium-sized enterprises (SME)
~Dutch: Midden- en kleinbedrijf (MKB)
Companies with fewer than 250 employees and an annual turnover of less than €50 million.
Small businesses scheme (KOR)
~Dutch: Kleineondernemersregeling
A scheme for small businesses. They will not charge customers VAT and do not pay turnover tax (VAT) to the Netherlands Tax Administration.
SME profit exemption
~Dutch: MKB-vrijstelling
A tax deduction to the profit of an SME company. It reduces the amount of taxable profit. The company will then pay less income tax.
Social assistance benefit
~Dutch: Bijstandsuitkering
Financial support from the government for people who do not have enough income or assets to support themselves.
Social entrepreneurship (sustainable entrepreneurship)
~Dutch: Sociaal ondernemen (duurzaam ondernemen)
A business model in which the main goal is social impact, which has a higher priority than making a profit for business owners or shareholders.
Social security
~Dutch: Sociale zekerheid
Dutch residents contribute to the social security system to access certain benefits. These includes unemployment payments, maternity and paternity leave, and sick leave.
Sole proprietor
~Dutch: Zelfstandige, Zzp'er (zelfstandige zonder personeel), Freelancer
An independent professional, usually with a specific expertise, who works for other companies and/or private individuals independently.
Sole proprietorship
~Dutch: Eenmanszaak
A Dutch legal structure for a business, mainly used by sole traders and freelancers.
Sole trader
~Dutch: Zelfstandige, Zzp'er (zelfstandige zonder personeel), Freelancer
An independent professional, usually with a specific expertise, who works for other companies and/or private individuals independently.
Staff
~Dutch: Personeel, Werknemers
People working for a boss in salaried employ.
Startup
~Dutch: Start-up
A new business that translates an innovative idea into a scaleable and generic product or service, using new technology. It wants to grow fast and solve a specific problem.
Startup visa
~Dutch: Startup visum
A residence permit for people from outside the European Union (EU), who are looking to start an innovative business.
Statistics Netherlands
~Dutch: CBS
A government organisation that collects data on Dutch society. This data is processed into statistical information on a variety of social and economic topics.
Statutory obligation
~Dutch: Wettelijke verplichting
The legal obligation to abide by the law.
Stock
~Dutch: Voorraad
Products kept in a shop or warehouse available for sale.
Stock exchange
~Dutch: Aandelenbeurs
The place where shares are traded.
Street trade
~Dutch: Ambulante handel
Trade on the street, or in a market stall, or door-to-door sales.
Subject to VAT
~Dutch: Btw-belast
A product or service over which VAT must be paid.
Subordinated loan
~Dutch: Achtergestelde lening
A loan that gets paid off only after other (more important) loans have been paid off and there is money remaining.
Subsidiary
~Dutch: Dochtermaatschappij
A company owned or controlled by another company.
Subsidy
~Dutch: Subsidie
Financial support from the government for a specific goal for a short time period.
Supervisory board
~Dutch: Raad van toezicht, Raad van commissarissen
The supervisory board supervises the management of a business.
Supervisory director
~Dutch: Commissaris
The Supervisory director heads the Supervisory Board. They supervise the management and the strategy of an organisation.
Supplier
~Dutch: Leverancier
A company that sells goods or services to another company.
Supplier's statement
~Dutch: Leveranciersverklaring
A supplier's statement contains information on the origin of a product, so the country where the product (or its parts) is originally from.
Suspension of payment
~Dutch: Surséance van betaling
If a business has temporary financial problems, paying its debts can be delayed.
T
Tailor-made
~Dutch: Maatwerk
Made especially for someone, made to fit.
Takeover
~Dutch: Overname
When a company buys (a part of) another company.
Target group
~Dutch: Doelgroep
A group of people, companies or organisations at which a business aims their marketing.
Tax assessment
~Dutch: Belastingaanslag
An assessment from the Tax Administration that states how much tax will be refunded or must be paid.
Tax refund
~Dutch: Belastingteruggave
Getting money back from the Tax Administration.
Tax relief for new companies
~Dutch: Startersaftrek
Financial support for starting companies. They will pay less tax.
Tax return
~Dutch: Belastingaangifte
Statement submitted by the taxable person or organisation, on the basis of which the Tax Administration can determine how much tax needs to be paid.
Tax schemes for new companies
~Dutch: Startersregeling
A (financial) support arrangement for startup companies.
Tax-free annuity
~Dutch: Stakingslijfrenteaftrek
When making a profit from ending the business, the business owner can use part of that profit to pay annuities. They will be entitled to an additional tax-free annuity.
Taxable income
~Dutch: Belastbaar inkomen
A person's gross income over which they pay income tax.
Temp agency
~Dutch: Uitzendbureau
A business that searches, finds and places temporary workers into positions with their client, the hiring company.
Tenancy
~Dutch: Huurcontract
A contract with the owner of a building to rent (part of) that building.
Tender
~Dutch: Aanbesteding
A formal buying and selling process in which a party looking to buy a product or service sets up a tender. Sellers can respond with a formal offer to supply goods or a service for an agreed price. The best offer wins the contract.
Term life insurance
~Dutch: Verzekering levensverzekering
An insurance that ensures that the family of a deceased entrepreneur will have a sufficient income after the entrepreneur's death.
Terms of delivery
~Dutch: Leveringsvoorwaarden
An agreement between a seller and buyer of goods about when and how the goods will be transported and delivered and who is responsible for transport, costs and insurance.
Terrace permit
~Dutch: Terrasvergunning
Permit needed when a bar or restaurant wants to add an outside seating area. Issued by the municipality.
The new Pension Act
~Dutch: De nieuwe pensioenwet
In the 2019 Pension Agreement, employers, employees, and the government made agreements about the future of pensions in the Netherlands. These agreements have now been written down in the 'Future of Pensions Act', also known as the new Pension Act (Nieuwe Pensioenwet).
Third-party liability insurance
~Dutch: Wettelijke aansprakelijkheidsverzekering
Insurance for protection against the claims of another (third party). Mandatory for people who own and drive a motor vehicle, such as a car, motorcycle, or moped.
Trade association
~Dutch: Ondernemersvereniging
An organisation of companies from the same sector.
Trade name
~Dutch: Handelsnaam
A name under which a company trades, as registered at KVK. One company can use multiple trade names, if registered correctly.
Transition payment
~Dutch: Wachtgeld
When an employee loses their job due to reorganisation they receive a transition payment.
Treasurer
~Dutch: Penningmeester
Someone who oversees and manages the finances of an organisation.
Trust office foundation (STAK)
~Dutch: Stichting administratiekantoor (STAK)
The STAK manages the shares of a company. It separates the voting rights from the profit-sharing rights.
Trustee
~Dutch: Curator
A person appointed by a judge to make sure a bankruptcy is handled in the right way. And that creditors are repaid what they are owed as much as possible.
Turnover
~Dutch: Omzet
A company's total amount of products or services sold over a given period of time.
Turnover tax
~Dutch: Omzetbelasting (BTW)
The Tax Administration takes a percentage (0%, 9%, 21%) of the money that customers pay for a product or service. This is called Value Added Tax (VAT).
Turnover tax rate
~Dutch: Omzetbelastingtarief, Btw-percentage
A company charges VAT when selling products or services. The rate is 0%, 9% or 21%.
Turnover tax return
~Dutch: BTW-aangifte, Omzetbelastingaangifte
Companies must file a VAT return with the Tax Administration. In this VAT return, the amount of VAT the company has paid and received is registered.
U
UBO (ultimate beneficial owner)
~Dutch: UBO (ultimate beneficial owner)
UBOs (Ultimate Beneficial Owners) are the owners or the persons who are in charge of a company.
UBO register
~Dutch: UBO register
The UBO register helps to prevent financial and economic crimes such as money laundering, financing terrorism, tax fraud, and corruption.
UBO report
~Dutch: UBO-opgave
Reporting the UBO(s) in a company to KVK.
Underage
~Dutch: Minderjarig
A person who has not reached the legal age of adulthood; under 18 years old.
Unemployment benefit
~Dutch: Uitkering werkloosheidswet (WW)
Financial support from the government that a person receives when they become unemployed.
University of Applied Sciences
~Dutch: Hoger Beroeps Onderwijs (HBO)
A higher education institution with profession-oriented (vocational) study programmes. Graduates earn a bachelor's degree.
V
Value added tax (VAT)
~Dutch: Omzetbelasting (BTW)
The Tax Administration takes a percentage (0%, 9%, 21%) of the money that customers pay for a product or service. This is called Value Added Tax (VAT).
VAT exempt
~Dutch: Btw-vrijgesteld
When VAT does not apply.
VAT ID number
~Dutch: Btw-identificatienummer
Number a business receives from the Tax Administration that is used in communication with customers and suppliers.
VAT levy
~Dutch: Btw-heffing
When VAT applies. VAT is levied on goods and services.
VAT number
~Dutch: Btw-nummer, Omzetbelastingnummer
The number a business uses in all correspondence with the Tax Administration.
VAT rate
~Dutch: Omzetbelastingtarief, Btw-percentage
A company charges VAT when selling products or services. The rate is 0%, 9% or 21%.
VAT refund
~Dutch: Btw-teruggave
A return of VAT paid on goods purchased abroad.
VAT return
~Dutch: BTW-aangifte, Omzetbelastingaangifte
Companies must file a VAT return with the Tax Administration. In this VAT return, the amount of VAT the company has paid and received is registered.
W
Wage tax
~Dutch: Loonbelasting
When a business owner employs staff, they pay Payroll tax. It consists of wage tax, and several national insurance contributions.
Waste collection charge
~Dutch: Reinigingsrecht
Businesses pay a waste collection charge when their municipality picks up their industrial waste.
Waste disposal tax
~Dutch: Afvalstoffenbelasting
When operating a waste processing plant that has a landfill site or when owning a waste incineration plant, the business owner must pay landfill tax.
Wholesale trade
~Dutch: Groothandel
Selling goods in large quantities and at low prices to retailers (shops).
Wholesaler
~Dutch: Groothandel
Selling goods in large quantities and at low prices to retailers (shops).
Withholding tax exemption
~Dutch: Vrijstelling of teruggave van bronbelasting
When a business receives interest, royalties or dividends from abroad, often withholding tax is deducted from these sources of income.
Work permit
~Dutch: Tewerkstellingsvergunning
A permit that allows a person to work in the Netherlands.
Working conditions (Act)
~Dutch: Arbeidsomstandigheden, Arbowet
This law states that employers must provide good working conditions for their employees, so that they work in a safe and healthy environment.
Working Hours Act
~Dutch: Arbeidstijdenwet
This law prescribes the maximum number of hours employees can work per day or week.
Working partner's abatement
~Dutch: Meewerkaftrek
When their fiscal partner works for the business, this tax scheme may apply so that the entrepreneur pays less tax on profits. The amount depends on the profits and on the number of hours the fiscal partner works for the business.
Works council
~Dutch: Ondernemingsraad, OR
A group of employees that represent the staff in an organisation to promote and protect the interests of employees.