Accounting and accounting rules in the Netherlands

Accounting Rules

Tax Year

The tax year generally corresponds to the calendar year, although a deviating year may be used if so provided in the company's articles of association. The tax year usually is 12 months, but shorter or longer periods are permitted in the year of incorporation/liquidation.

Accounting Standards

International Financial Reporting Standards (IFRS) as adopted by the EU apply to all domestic and foreign public companies. Small entities must choose between Book 2 of the Dutch Civil Code combined with fiscal valuations, Dutch Accounting Standards for small entities, Dutch Accounting Standards for medium sized and large entities and IFRS Standards as adopted by the EU combined with a part of the Dutch Accounting Standards for medium-sized and large entities. Medium sized entities must choose between Dutch Accounting Standards for medium-sized and large entities and IFRS Standards as adopted by the EU combined with a part of the Dutch Accounting Standards for medium sized and large legal entities.

Accounting Regulation Bodies

Dutch Accounting Standard Board

Accounting Reports

Financial statements, cash flow statement and additional information.

Publication Requirements

Private companies, cooperatives, mutual insurance companies and general partnerships have to publish their accounts.
To be published, the annual report must be submitted to the trade register. Statements must be filled annually.
For large BVs and NVs, annual reports containing a balance sheet and a profit and loss statement that compare results from previous years must be presented to shareholders and published within eight days of adoption.
Specified “closed” NVs (whose shares are 100% privately owned) that are subsidiaries may be exempt from publishing annual reports if the results of their activities are included in a consolidated report issued by the parent company, which is expected to assume full responsibility for their accounts.

Professional Accountancy Bodies

Netherlands Association of Registered Controllers
Royal Netherlands Institute of Registered Accountants

Certification and Auditing

Companies have to appoint a statutory auditor to conduct an annual audit of the financial health of their organisation. For more information, you can contact The Netherlands Court of Audit.

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