Desks
LENOS c.s. VAT & Customs Lawyers is an indirect tax boutique firm supplying tailor-made advice.
International compliance desk
Specialized in distance sales, OSS and intrastat.
International VAT desk
Support of non-established businesses doing business in the EU.
General Dutch VAT advice desk
- International trade & services / supply chains / logistics.
- Mergers and acquisitions.
- Non-profit, health care, sports and education.
- Grants, start ups.
UK desk
US desk
Italian desk
Controversy, litigation and formal
Dutch VAT
Real estate
Customs desk
Grants and government
Professional service desk
Over the years a lot of our foreign clients have gradually developed their business in the EU and at a certain point in time have upgraded from the use of a simple vat fiscal representative to running a local Dutch company to support their business (mostly marketing and trading in the EU ) and/or supply chain needs.
For foreign businesses there is a huge difference between just having a Dutch VAT registration or operating through a Dutch entity and having to comply with all tax, compliance and regulatory affairs.
One of the mayor issues is that a Dutch entity should be established in the Netherlands to make use of all sorts of favorable arrangements, such as import VAT postponement (so-called art. 23 license) the application of tax treaties, and direct representation for customs purposes. Also, it is much easier for such entity to obtain VAT ID’s in other member states than an offshore entity.
To make sure a business is established in the Netherlands the foreign business should make sure that number of essential functions is actually executed in the Netherlands. One of the elements is having a Dutch director to ensures that the effective management and control is done in the Netherlands. Such director makes sure that the entity meets all its obligations (publishing financial statements, tax compliance), signs agreements, provides power of attorneys to those that represent the business, monitors the business, the bookkeeping and the two-tier bank account (co-sign). In other words, acts as a responsible but also liable jack of all trades. Actually, he is the spider in the web that makes the business possible.
Since long LENOS works together with Marden Trust, a business that provides all necessary professional services to make sure a Dutch entity is incorporated properly and always in good standing.
Marden has all necessary licenses to provide its services and must meet the highest standards set by the Dutch government regarding antiterrorist .. and money laundering. A robusts “know your client” investigation must be passed, but this level of investigation also necessary when a business wishes to have a Dutch bank account.
When you envisage to incorporate a Dutch entity, please feel free to contact Rob de Koning directly:
Rob de Koning
+31 (0) 651 711 184
CFO desk
Over the years we have experienced many difficulties when it comes to doing business abroad through an entity, or via another form of representation. The parent or holding company must realize that it loses part of control over its business as suddenly certain foreign rules must be reconned with and obeyed.
Business like to think that albeit that the business is done abroad, it is just a financial or bookkeeping issue, daily decisions can be made as before; the new business is just another ledger to be dealt with by the finance department.
However, foreign leadership should adjust its processes and flow all initiative beforehand via the management of the new business. Leadership and control should be in the country of establishment, including the maintaining of the bookkeeping and the control over the bank account. The trade must be monitored on a day-by-day basis.
We know what CFO’s must be aware of when they set cross border. That is even true when a business only sets up a VAT registration in the Netherlands to support its EU trade. However, it is not only an invoice/financial issue. The logistics manager must talk to the traders. It is a lot about communication, not only internally but also with the foreign service providers. They cannot perform their duties if they are kept in the dark on how trade is developing, or they only receive invoices without background or just ledgers and must guess what they are looking at.
To avoid these issues, which will always lead to discussions, mishaps and misunderstandings (read: unnecessary expenses and a waste of time) it is good that a CFO organizes a smooth and timely exchange of information. Also, it is essential that as from day one onwards, all involved know how decisions are to be taken, and which information should be available at what time.
Jacco started as chartered accountant. Over the years he found that his strong suit not processing administration but improving the financial processes and/or assisting business by developing plans how to reorganize. He readily realized that creating a solution is only part of solving it, but that implementing it properly is key.
In nearly twenty years he has built a proven track record in interim management as one of the founding fathers of SIS FINANCE. His focus is on creating solutions or avoiding problems for financial departments and/or related areas (HRM and ICT).
Jacco provide on a regular basis advice and counsel on setting up financial departments, the implementation of financial (consolidation) systems or the restructuring of the (administrative processes of) financial departments. Through his excellent network of consultants of which many are postgraduates or chartered controllers (many with 10 years or more with the BIG Four background), he is not only able to create the solution, but have it implemented too.
SIS-FINANCE
Jacco Kaandorp
+31 (0) 622 207 125
www.sis-finance.nl/en
