Reinier advises national and international companies
reinier.russell@russell.nl +31 20 301 55 55Your organisation should have registered the UBOs in the UBO Trade Register of the Chamber of Commerce by 27 March 2022. Have you not done so yet? Then you can be fined by the Tax and Customs Administration. There are special rules for the registration of the UBOs of ANBIs (PBOs). What are these?
4 out of 10 organisations have not yet registered their UBO in the Trade Register. This counts as a violation. This is punishable by a maximum fine of € 22,500 or a penalty per day that the violation continues. There is no maximum for the penalty.
The Tax and Customs Administration (Belastingdienst) have started writing to the organisations that have not registered their UBO yet. This is being done by the Economic Enforcement Bureau (Bureau Economische Handhaving, BEH). When do you get such a letter and what do you have to do when you have received it?
First of all, the tax authorities will mainly look at the sectors known to be used for money laundering, tax evasion and the financing of terrorism. After all, the UBO register was created to combat this.
If you have received a letter from the Bureau Economische Handhaving, you must register the UBO within two weeks, otherwise you are in violation. If you do not register the UBO, you will be called on the phone and can then expect to receive a fine or a penalty.
For associations and foundations it can be difficult to determine who the UBO is, especially for PBOs and charities. The abbreviation PBO says it all: it is all about the public benefit, not about individuals. How can you then designate someone as UBO?
The Cabinet has decided that ANBIs may register the senior management as UBOs, i.e. the directors of the ANBI. For organisations which are run on volunteers and of which the executives change regularly, this administrative obligation can be a considerable burden. Moreover, not all volunteers will be pleased to have their private data entered into a public register. Especially when it comes to organisations that are controversial or involved in a conflict.
Do you have any questions about your registration in the UBO register, for example, because you have difficulties in determining who the UBOs of your organisation are? Do you want to know if you can limit the disclosure of your data? Or do you have any other questions about privacy and charity or do you want to submit a dispute to us? Please contact us:
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