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Are you the owner of an SME? And did you suffer a substantial turnover loss due to the corona crisis? You may be eligible for the Reimbursement of Fixed Costs for SMEs (Tegemoetkoming Vaste Lasten mkb, TVL). You can apply for this tax-free reimbursement for turnover loss through 30 June 2021.
What is the Reimbursement of Fixed Costs?
This reimbursement is meant for SMEs that have suffered a turnover loss of more than 30% during 3-month periods (1 October 2020 through June 2021), to help them pay their fixed costs.
The minimum limit for revenue loss will be increased step by step. For October through December 2020 the percentage is 30%.
Fixed costs must be at least €3,000 for each 3-month period from October 2020. Fixed costs are for instance rent, insurances, leases, maintenance and subscriptions. Please note: wage costs and other variable costs are not included. Wage costs are compensated through the NOW: Temporary Emergency Bridging Measure for Sustained Employment.
How much reimbursement can you apply for?
The minimum amount you can apply for is €750 and the maximum amount is €90,000 for each 3-month period.
The Netherlands Enterprise Agency (RVO) will calculate the amount of the reimbursement based on the total turnover loss and a percentage for fixed costs that is set per sector. Normal turnover for each period is calculated based on turnover in the corresponding months in 2019.
Who can apply?
SMEs, including the self-employed, that have suffered turnover losses due to the corona crisis and because of this cannot pay their fixed costs, can apply for this measure. Entrepreneurs who were eligible for the Reimbursement for entrepreneurs in affected sectors (TOGS) are likely to be eligible for this measure. You can use the Dutch-language advice tool to assess your eligibility.
You must of course fulfil the conditions.
Modifications to the conditions specific for Q4 2020
For TVL Q4 2020 (October through December 2020) the government has announced (in Dutch) several modifications to the conditions.
- SMEs in more sectors will be eligible for the TVL. SMEs can apply for this reimbursement, regardless of their SBI codes, provided they meet all the other requirements. You do not have to be registered under a specific SBI code for this period. Please note that financial and credit institutions, holdings, publicly financed schools and public institutions are not eligible for this reimbursement.
- Entrepreneurs in the hospitality sector that have been forced to close from 14 October will receive a one-off supplement with the TVL for Q4 2020.
- Entrepreneurs in the events sector and their suppliers who have received the TVL for the summer months but cannot reach the turnover threshold for Q4 2020, will receive a reimbursement for this period. The amount will be based on the reimbursement for the summer months. Please note: this addition to the TVL is still being elaborated.
How to apply?
You apply for each 3-month period separately. You cannot apply for the whole period at once.
Q1 2021 of TVL runs from January through March 2021 and TVL Q2 2021 is for the months April through June 2021.