Deadline Approaching for Solidarity Contribution Filing and Payment in the Netherlands
Deadline Approaching for Solidarity Contribution Filing and Payment in the Netherlands
March 19, 2024
Qualifying companies operating in the oil, natural gas, coal, and refinery sectors in the Netherlands are reminded of the upcoming deadline to comply with the solidarity contribution (in Dutch: “solidariteitsbijdrage”) requirement, as outlined in the Dutch implementation of the EU Regulation 2022/1854. Businesses within the scope of this regulation must prepare to file their contributions based on excess profits from the fiscal year 2022 no later than on May 31st 2024. The due amount should be paid via self-assessment no later than the aforementioned date.
The solidarity contribution, set at a rate of 33%, targets profits exceeding 20% of the average profits from the previous four years (2018-2021). This measure aims to redistribute the excess profits earned during the energy crisis, providing financial support to households facing high energy prices.
For companies in the targeted sectors, it’s crucial to begin preparations if they haven’t already. Consultations with our tax professionals are advised to navigate the complexities of the contribution calculation and ensure compliance with the regulation.
