News item | 27-05-2022 | 9:00 am
All companies with a legal personality go through their annual accounts digitally Standard Business Reporting (SBR) deposit. After the micro, small and medium-sized enterprises, the government now also wants to oblige the 2,500 largest Dutch legal entities to present their annual accounts in this way. This unambiguity brings convenience to entrepreneurs, improves the quality of the reports, reduces errors, leads to more transparency and also saves on administrative burdens for the business community of 8.4 million euros per year.
The public internet consultation for the amendment of the decree electronic filing of the commercial register was launched today by Minister Micky Adriaansens (Economic Affairs and Climate). Relevant parties such as the Council for Annual Reporting (RJ), the Netherlands Professional Organization for Accountants (NBA), software suppliers, VNO-NCW and the Chamber of Commerce (KvK) are working together with the Ministry of Economic Affairs to shape the decision. This change only changes the submission method, not the content of or access to company data.
Minister Micky Adriaansens (EZK): “The government must make every effort to reduce regulatory pressure and make the time that entrepreneurs spend with obligations as efficient as possible. The digitization effort with the unambiguous submission of annual accounts is a good example of small things that help our business climate and therefore our economy. And it also means that information is more accessible and transparent for entrepreneurs.”
Expected obligation for category ‘large’ from 2023
SBR is the national standard for the digital exchange of all business reports, such as annual accounts, property valuations and tax returns. Companies in the micro and small business class have been required to file via SBR since the 2016 financial year, the medium-sized business class has been doing this from the 2017 financial year. The ‘large’ group will soon include approximately 2,500 companies with an asset value of more than €20 million or a net turnover of more than €40 million or with more than 250 employees.
Over the whole of 2021 there have been more than 835,000 deposits via SBR. European legislation requires listed companies (Securities Issuing Institutions) to file electronically via the AFM with effect from the 2021 financial year.
The internet consultation of the amendment to this General Administrative Order (AMvB) is here and is open to responses up to and including 24 June 2022. The AMvB will then be sent to the Council of State for advice, after approval by the Council of Ministers.