The Dutch government announced a third set of financial measures until the summer of 2021

The third set of financial measures comes into effect on October 1 and covers a longer period than the previous sets. New conditions will be introduced with an increased long-term focus offering more security in these difficult times. The highlights from the corona measures for entrepreneurs and employees from October 1, 2020 are mentioned below.

NOW 3 (temporary emergency bridging measure for sustained employment)

The scheme will be extended by nine months in total, with three applications of three months.

Tozo (temporary bridging measure for self-employed professionals)

You can apply for Tozo 2 until September 30. Applications for Tozo 3 may be filed from October 1, 2020 through June 30, 2021. From 1 January 2021, municipalities will offer additional services to independent entrepreneurs, such as additional training or retraining and reorientation. What is new, is that to apply for the Tozo 3 scheme, as it is called, you will have to pass a means test as well as the partner income test that was introduced for Tozo 2.

TVL (reimbursement fixed costs scheme for SMEs)

The maximum amount to be claimed is € 90,000 per 3 months. The scheme will be extended three times for three months until June 30, 2021 and will be phased out during that period.

Credit guarantee and loan schemes remain available

The following credit guarantee schemes for businesses will remain available after 1 October:

  • Credit Guarantee scheme for SMEs BMKB-C
  • Business Loan Guarantee scheme GO-C
  • Bridging loans for small companies KKC

Tax measures

Entrepreneurs can apply for tax deferment until October 1, 2020. The postponement will therefore expire on 1 January 2021 at the latest. Two years are granted to repay the accumulated tax liability. Furthermore, the tax interest will be adjusted while the collection interest will remain close to 0%.

New measures aimed at investments

  • The Dutch government is also taking new measures to stimulate investment and economic growth. Public investments in infrastructure worth € 2 billion are announced.
  • In addition, the Dutch government will invest in a national scale-up facility and make € 150 million available to supplement the Regional Development Societies' (ROMs) funding capability, so that they can continue to support innovative SMEs.
  • Thirdly, the Dutch government has allotted € 255 million to co-financing EU programs aimed at regional development, innovation, sustainability, and digitalization.

Supplementary social package

The Dutch government is allocating funds for guidance in finding new employment by the UWV and municipalities. Additional funds will be released for training and re-schooling. The total funds will exceed € 1 billion for this supplementary social package.

Contact our Corona Crisis Team »

08 September 2020