According to a press release from the Ministry of Finance, Deputy Minister De Jager intends to simplify the electronic corporate income tax and personal income tax returns for entrepreneurs. The intention is to cut of the amount of information requested in the 2010 return by half.
This should become possible by better matching the return to the entrepreneurs’ administrative system. Entrepreneurs will no longer be obligated to include information regarding their annual financial statements in their returns. Information regarding, for example, inventory, value of the inventory, and private loans are no longer required to be included.
The new return will soon be available for use in an ultra-modern format: XBRL (eXtensible Business Reporting Language). In the meantime, the return can also be submitted in the current XML format. According to the Ministry’s press release, entrepreneurs who submit their returns via a tax lawyer that has concluded a horizontal supervision agreement with the Dutch Revenue can include even less information. They can submit and even shorter version in the XBRL format. The Dutch Revenue has worked together with entrepreneurs, tax law intermediaries, software suppliers, and the SBR (Standard Business Reporting) program, to further ease the administrative burden.