Glossary

Sort:/Dutch

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), Formation deed (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.

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 levies and collects tax and excise duties and pays out allowances.

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

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: Co-working partner relief

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.

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 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: Indemnification

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.

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