The Tozo regulation
Self-employed people can make use of two facilities from the Tozo regulation: income support and a loan for working capital. Income support is based on the social minimum, the amount that people need for living. For married and cohabiting persons, the income is supplemented to an amount of 1500 euros net. For singles this is 1050 euros net. The working capital loan has a maximum of 10,157 euros. In order to receive income support, the self-employed person must declare that he expects income to fall below the social minimum as a result of the corona crisis.
Frontier workers
Self-employed entrepreneurs who live in the Netherlands and who have a business in another EU country can, if they meet the conditions, qualify for living support under the Tozo regulation. The enterpreneurs must submit the application in their residential municipality. For possible financial support of their company, they have to rely on the country where the company is located. So they are only eligible for income support and not for business credit.
Self-employed persons who live in another EU country and their companies are established in the Netherlands can qualify for a business loan, but not for income support. They can make use of social assistance in their country of residence for income support.
AOW beneficiaries
Self-employed persons with the state pension age can also soon apply for a business loan at a low interest rate within the Tozo regulation. The loan has a term of three years and does not have to be repaid until January 2021.
The groups that are added to the Tozo regulation will be able to submit their application as soon as the ministerial regulation governing enlargement comes into effect. It is expected to be completed by the end of April. Entrepreneurs can submit Tozo applications to their municipality up to and including 31 May, for a maximum of three months in the period between March 1 and August 31, 2020. Applications can therefore also be submitted retroactively.
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NAZALI TAX & LEGAL |