Business
Netherlands — Business: Accounting
Accounting in the Netherlands is governed by the Dutch Central Bank and the Netherlands Authority for the Financial Markets, with International Financial Reporting Standards (IFRS) adopted and local General Accepted Accounting Principles (GAAP) applied.
Key facts
- The Netherlands has adopted the International Financial Reporting Standards (IFRS)
Steps
- Step 1: Register the company with the Chamber of Commerce — The company must be registered with the Chamber of Commerce and obtain a business registration number (KvK-nummer)
- Step 2: Appoint an auditor — The company must appoint an auditor for the annual financial statement audit
- Step 3: Prepare financial statements — The company must prepare financial statements in accordance with IFRS or local GAAP
Costs
- KVK registration fee: €82.15
- Notary fees: €500 to €1,500
Timelines
- Registration with the Chamber of Commerce: 1-3 business days
Required documents
- Company deed or articles of association
- Proof of identity of the company's officers
Common mistakes
- Failure to register with the Chamber of Commerce in a timely manner
- Incorrect or incomplete financial statements