The Compensation for Fixed Costs (TVL) will be opened for large companies for the first time starting Monday, May 10 at 12:00 PM. Until now, only SMEs could benefit from the support measure. The TVL Q1 2021 will remain open for large companies until June 10, 2021, at 5:00 PM to give them enough time to submit an application. The scheme for SMEs still closes on May 18. The maximum subsidy amount for large companies is €600,000 for the first quarter. For large companies in retail, an additional maximum of €300,000 may apply.

The Compensation for Fixed Costs is open for large companies for the first time. These are companies with more than 250 employees (FTE) or more than €50 million in revenue per year and a balance sheet total of more than €43 million. When large companies are part of a group of connected enterprises, they are seen as one entity under state aid rules. Therefore, a group can submit a maximum of one TVL application, with the maximum state aid limit applying to the entire group. For a large company or group of connected enterprises, the maximum subsidy is €600,000 for the first quarter.

The group of connected enterprises must jointly determine which activity and company is most representative of the revenue of the entire group. This company then applies for TVL for the entire group. A large company or group of connected enterprises must demonstrate the composition of the group with an accountants product when applying for the TVL. If the subsidy amount is higher than €125,000, an accountants product is also required for the determination of the subsidy, just as for SMEs. RVO and the Dutch Professional Association for Accountants have developed standard accountant products for this purpose.

To give large companies sufficient time to apply for the TVL Q1 2021, the scheme for this group will remain open until June 10, 2021, at 5:00 PM. The accountants product can be submitted later if necessary. RVO will hold the TVL application and provide a maximum period to submit the proof. For SMEs, the scheme has been open since February 15 and will close on May 18 at 5:00 PM.

For large companies or a group of connected enterprises, the condition is that the company or group has a minimum of 30% revenue loss compared to the first quarter of 2019. The subsidy percentage is 85% for both large and SME companies.

If you have questions about the support and recovery package for corona, companies and workers can check rijksoverheid.nl/support-package or on the website of the Netherlands Enterprise Agency. Entrepreneurs can also turn to the website of the Chamber of Commerce for more questions: kvk.nl/corona. If the answer to your question is not listed, call the advisory team at 0800 – 2117 or contact your accountant. Companies can use the SME test from the European Commission to determine whether the organization is an SME or a large enterprise.