Taxi, coach and public transport companies must, on average, over the next five years 54 percent of use their profits to pay off the tax debt they have built up during the corona crisis.

ABN Amro has calculated this based on figures from Statistics Netherlands (CBS), reported NOS. It concerns the tax deferral that entrepreneurs were able to take advantage of during the corona crisis. This arrangement expired on 1 October and from 1 October 2022 the tax debt must be repaid.

That entrepreneurs having five years to repay their debt relieves the pressure, says ABN Amro. The bank is concerned that the debts are only held by a limited group. In addition to the taxi and coach industry, debts are also high at clothing and shoe stores, employment agencies and electronics stores. In the latter sector, even an average 54 percent of the profit is needed to repay the tax debt.

54. billion euros Have a total of 2021. entrepreneurs have applied for deferral of tax payment. In total it concerns such a 54.05 billion euros. However, a large part of this, namely 10 billion euros, has already been repaid. It also turned out that the tax authorities had set the tax too high in some cases. As a result, a further 5.4 billion euros can be deducted from this total amount.

Many entrepreneurs, including in the taxi and coach sector, are still waiting for a response or payment of the Fixed Expenses Allowance (TVL). Here did 25. entrepreneurs from different industries are entitled to. Due to the large number of applications, it is not possible to make a decision on the applications within the promised period of eight weeks. The payment is also delayed as a result.

Warning about bankruptcy Nevertheless, the corona support has ensured that the number of bankruptcies is historically low. ABN Amro does warn against bankruptcy of companies that still have to pay off the tax debt. Many companies also have other debts, such as with suppliers or family. This analysis has not taken this into account.

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