Kleineondernemersregeling
Kleineondernemersregeling, often abbreviated as KOR, is a Dutch VAT scheme aimed at small businesses. It allows eligible entrepreneurs to reduce or eliminate the need to charge value-added tax on sales and, in return, to forgo the right to reclaim input VAT on purchases. The measure is designed to simplify administration for very small enterprises.
Eligibility and threshold: To qualify, the annual turnover excluding VAT must not exceed a set threshold, historically
How it works in practice: When participating in the KOR, the business does not charge VAT on
Implications and considerations: The main advantage is reduced paperwork and administration. The main drawback is the
Duration and opt-out: The KOR generally applies for a calendar year, with the possibility to discontinue or