At Forvis Mazars, we inform you about the recent developments and rules and regulations that can have impact on you or your organisation. Would you like to minimise your risks and maximise your opportunities? We have listed several noteworthy news items that can be of use to you.
European mobility package: the main measures for road transport
29 September 2020 - The European Parliament recently approved the mobility package. This package contains various measures that are relevant for road transport. The measures are intended to improve the working conditions of the drivers and to harmonise European regulations. The introduction of these measures has been spread over several years, with the first measures, such as the revision of the driving and rest time regulation, already taking effect in August 2020.
Transitional compensation
31 March 2020 - As of April 1 2020, the Transition Compensation Compensation Act (Wct) comes into effect. This means that from that date, employers can apply to the UWV for compensation for the transition compensation they owe if they dismiss an employee who has been incapacitated for work for at least 2 years.
The new benefit register of the foundation
9 September 2020 - A new legal provision in Book 2 of the Civil Code entered into force on 8 July 2020. This provision prescribes that foundations must keep a benefit register and would have a fiscal necessity. Although parliamentary history does not show which gap is being closed here.
Data analysis in the transport and logistics sector: still plenty of potential to unlock
3 September 2020 – Analysing data helps transport companies to improve business operations. It enables them to take better decisions based on comprehensive and current insights into the KPIs that are relevant to them. In a sector where margins are low and volatile, it is crucial to be able to cut things fine. Yet the use of data analysis is still in its infancy in many companies. Mazars studied the use and the potential of data analysis in transport and logistics companies.
IORP II: internal audit of pension funds
20 August 2020 – All pension funds must have established the key function for the internal audit by 1 September 2020, including an independent key function holder (SFH). Based on IORP II legislation, pension funds are required from 2019 to establish key functions for actuarial, risk management and internal audit in order to further strengthen governance. Where risk management has already been further developed within the sector in recent years, the internal audit function is still in its infancy.
Extension of the structure of Recognition Passport for charitable organisations
13 August 2020 – Supervisor CBF has expanded the design of the Recognition Passport for charitable organisations. Only organisations that meet strict quality requirements are eligible for the CBF Recognition. These organisations must demonstrably contribute to a better world, handle money with care, be accountable and have themselves checked when necessary.
The impact of royalties on the customs value
5 August 2020 - On 9 July 2020, the Court of Justice of the European Union (CJEU) concluded in the case of Curtis Balkan (C‑76/19) that royalties should be taken into account for determining the customs value of semi-finished products used for manufacturing of licensed finished products for which royalties have been paid.
The opportunities of the unique dynamics of the family business in a crisis
20 July 2020 - For you as a family business it is very important that you manage crises and risks well. Not only during the corona crisis that we are in now, but in every crisis. There is often a lot at stake for your family business. From taking good care of the staff and reputation, to the ambition to continue your family business in the long term and to keep all the good work of previous generations. How do you ensure that your family business keeps its head above water in a (financial) crisis?
Important change in customs regulation for non-EU-based businesses
30 July 2020 - The Dutch customs authorities have announced an important change in the definition of “exporter of record” that will apply as from 1 January 2021. Accordingly, it will (from a customs point of view) not be possible for non-EU businesses to act as exporter of record in the EU.
Does a municipality act in the operation of cemeters as government?
17 July 2020 - On 19 June 2020, the Supreme Court ruled whether a municipality acts as a government in the operation of cemeteries. The Supreme Court indicates that the fact that a municipality carries out a statutory task is not sufficient to conclude that that activity qualifies as a government act. The task itself, in this case the operation of a cemetery, must also imply that a municipality acts on the basis of specific governmental powers. As a result, the VAT Compensation Fund (BCF) excludes a full compensation of the VAT charged to the municipality for these activities.
Wtl: LIV changes in LKV young people
15 July 2020 – The law for allowances within the pay domain (Wet tegemoetkomingen loondomein – Wtl), which supports people with a weak position on the labor market, will arranged differently. The labor cost benefit for young people (LKV jongeren) is introduced and will replace the low income benefit (LIV). The change will as expected take place on 1 January 2022.