What accounting requirements are there in the Netherlands?
GAAP, IFRS, and listed companies
The Dutch accounting rules are regulated by law. The Dutch Generally Accepted Accounting Principles (Dutch GAAP) are mainly based on EU directives. Dutch GAAP applies to a BV and a NV as well as other entities, like for example certain forms of partnerships. Special rules apply to stock listed companies, financial institutions and to insurance companies.
Though Dutch GAAP still differs from International Financial Reporting Standards (IFRS), Dutch GAAP is brought in line with IFRS on a continuing basis. As from 2005, all listed companies in the EU should apply to IFRS. The same applies to Dutch financial institutions and insurance companies. For differences between GAAP and IFRS see here.
Requirements non-listed organizations
Many organizations, including BVs, NVs, cooperatives, certain VOFs, CVs, associations and foundations (see the complete list in Dutch here) are legally required to submit their annual account (‘jaarrekening’) to the Chamber of Commerce.
The information required in the jaarrekening is dependent on the size of the company. Enterprises are divided into 3 categories, depending on three criteria – if a company matches 2 of the three criteria, they belong to the respective category. This determines the amount of information they have to supply to the Chamber of Commerce.
From 2016 it is mandatory to supply the jaarrekening online to the Chamber of Commerce. For small companies this can be done here. For more ways to supply the jaarrekening and for medium and large sized companies, click here. Generally speaking, companies have to supply the jaarrekening to the Chamber of Commerce 5 months after closing of the fiscal year (more information – Dutch).