What is part of your administration?
All data about your business that you record, on paper or electronic, is part of your administration.
How long do you have to keep your administration?
Every entrepreneur is legally obliged to keep his/her records for 10 years.
What requirements apply to the administration?
It is important to set up and maintain a good administration. With an up-to-date administration you record all the things that are happening in your business which helps you to keep an overview. It is therefore much easier to complete your declarations.
All data about your company that you record on paper or in digital form belongs to your administration.
Examples are:
- Cash administration (including draft notes) and receipts.
- Financial notes (such as the purchase and sales book).
- Interim control calculations.
- Invoices that you have received and copies of the invoices you have sent.
- Bank statements.
- Contracts, agreements and other understandings.
- Calendars and appointment books.
- Correspondence.
- Software and data files.
Your records should clearly show the tax liability.
Why is an up-to-date administration important?
Administration means: all data about your company that you record on paper (including draft drawings) or digitally. A well-designed and clear administration is of great importance: not only to comply with your legal obligations, but also for your business operations. As an entrepreneur, you are legally obliged to keep good records that are tailored to the nature of your business. Therefore, start setting up an administration right away, even if your business hasn’t even started yet.
A complete administration helps you with:
- Your daily business operations.
- To file your tax return (your administation is the source of your tax return).
- With an up-to-date administration, you quickly have access to the results of your company to gain insight into your costs, your turnover and your profit.
The Tax Administration must be able to check these tax returns. If your administration is not complete and cannot be checked within a reasonable time or if you do not keep your records long enough, this can have consequences. In that case we calculate your turnover, profit and tax due. If you do not agree with our calculation, you must prove that it is incorrect. This is called ‘reversal of burden of proof‘. You must do so even if you have not filed a tax return.
What tax obligations do you have as an employer?
As an employer, you are required to withhold, file and pay payroll taxes (including premiums such as AOV/ AWW and AVBZ). You are required to calculate, withhold, file and pay the payroll taxes yourself. The payroll tax return can be submitted digitally or as hard copy at the counter of the Tax Administration. Find out more information on the page: Payroll tax.
Administration Change
Did you change the business structure or did your company recently move? Inform the Tax Administration by filling in the form Change Address.