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