Global Connect Admin B.V in partnership with the DNHK are holding a German webinar on 15 June 2022 at 12:00, titled “Einführung in Global Connect Admin BV & Global Connect Consultancy BV Ein kurzer Überblick über Amelkis XBRL. Register on the following link: https://lnkd.in/eSKqWcQg #webinar #xbrl #german #globalconnectadmin #globalconnectconsultancy #DNHK
Through adversity we grow and this year’s summit taught to inspire just that; the tools needed to adapt in this vast – changing world and in every step of the way, to grow and draw strength and purpose from what has happened in the past.
The PS provided a platform for actionable insights, inspiration and networking with over 2000 meet-ups held per day at the 2021 Summit. Global Connect Consultancy B.V., together with Global Connect Admin B.V. again this year enriched their professional know-how and built on its vast & steadfast network!
It is the ability to find harmony in the noise and to know there is a safety net when we err. According to Itay Talgam this can be achieved by our ability to recognize and explore gaps, our decision to interpret the plans we create. This speaker is an orchestral conductor who teaches leadership by looking at examples of world leading maestros. In his book The ignorant Maestro Talgam explains that sometimes the best way to stimulate and let people develop their full potential under your direction is to be ignorant. Leaders do not have to be the one who knows everything, but the one who helps his leaders to develop their full potential and to coordinate the team so that those energies flow in a common sense, as happens in a well-assembled orchestra. He teaches his audience not to mind the gaps but to use them.
Other experts on the stage included Daniel Pink, expert on human behavior who aims to teach businesses that regret is both healthy and universal and an integral part of human life. Regret is not abnormal or dangerous, it clarifies what we value and teaches us to be better if we can learn from it.
Dr. Frederik Pferdt, CIE of Google teaches around the central idea that “it’s important to create an environment where everyone is allowed to bring in opinions”. His teachings focus on human mindset and how it channels our inner attitude towards every external event and how to reprogram our negativity bias and start inventing a better future, today.
Noteworthy insights from Linda Hill included inter alia that “most innovations arise from the collision of different ideas, perspectives, and ways of processing emotions”. Organizations are increasingly faced with pressure to innovate, but lack the tools to fuel, inspire and sustain that innovation. In summary the professor teaches her audience to reduce their should’ve and could’ve; be collaborative-ready; develop your successors and paying attention to both scale and speed.
We would like to thank our hosts at this years’ President’s Summit for the outstanding event that was had! Your hospitality is remarkable and the teachings are what we will draw from in the coming year. Thank you!
Join the leaders of future, the investors of tomorrow, and the founders of TODAY! Join Global Connect Consultancy B.V., your trusted partner in financial reporting – today, tomorrow and into the future. Our professional global team will ensure that you regain control of your financial data, allowing you to focus on your core business.
Every year, companies have to deal with predictions and challenges regarding global business. One of the well-known elephants in the room is the pandemic, affecting all companies. Next to the virus, other national and international trends keep organizations busy. How can your company respond to current global events? What type of strategies should you carry out to strengthen your brand and market position? We take a closer look into four business trends in 2022 – Data security, e-commerce, hybrid working and sustainability – and share insights on what your company could carry out for the near future.
1. Data security – Often overlooked, but crucial for your brand image and consumer trust
Consumer trust will make or break your brand image, especially how your company ensures data security. When people think of data security, they will most likely think of protecting data against risks, preventing data loss, and ensuring that data will not be misused or fall into unauthorized hands. Your company website should consist of a legal notice regarding your cookies and how your company protects the data of customers and website visitors. However, many companies tend to overlook the importance of detailed measures against data theft. In recent years, cybersecurity risks have been escalating globally. The question “How do I prevent hacking and data breaches?” turned into “When will data breaches happen?”
What can you do when cybersecurity risk prevention is impossible? The answer to that is to ensure that your company is well-prepared to take the necessary actions when it happens. Think of how you will bring the news to the outside world and what resources you have to limit the damages and solve the issue as effectively as possible. If companies want to be well-prepared for data challenges, investments in data security are the norm.
Global Connect Admin heavily invests in data security. Our customers are international companies, as well as private equity families. To ensure that their data is protected to the best of our ability, we secure the highest level of data protection. If you have any questions regarding how we do this, or if you are looking for professionals that can take care of your cybersecurity risks, do not hesitate to reach out to us.
2. E-commerce – Booming, however…
With the high level of convenience for customers, whether B2B or B2C, it is no surprise that e-commerce is booming. Global sales rose to 16.4% during the pandemic and continued to grow further. E-marketers predict that 22% of the global retail sales will increase to 22% by 2023. While e-commerce is booming, e-commerce companies will take a hit due to the economic barriers against Russia. Companies either choose or are forced to discontinue business with Russia, and freight costs will further increase with the rising oil and gas prices and limitations of no-fly zones.
E-commerce companies now have to choose alternatives to limit shipping costs and rising prices. For example, many companies tend to move production to Europe instead of Asia or choose green options regarding freight. Your company must communicate with your consumers at moments like this. Tell them what your 2022 actions are and what these mean for the consumer’s wallet and shipping. The good news is that your company is not the only one affected by global issues. The bad news is that if you do not take any action regarding current international events, the competition will eat you.
Have you thought of your short and long-term company strategies? Global Connect Admin assists international companies worldwide and has experience with various industries. If you are looking for distribution centers or would like international tax and VAT professional assistance, please get in touch with us. We would gladly help you with finding the best solutions.
3. Hybrid working – The new future
Remote and hybrid working is nothing new, but it is no secret that the global pandemic sped up the process of moving away from the office as a workplace. Compared to 2015, almost every company can now call itself (somewhat) experienced in hybrid working. While the pandemic heavily affected the global economy, it also proved that employees do not need constant supervision to perform well and be productive.
The main challenge with hybrid working is communication. What works for team A might not work for team B. How do you ensure that employees feel engaged and communicate well with each other, whether there is a lockdown or not? One solution is to establish clear ground rules regarding the workplace.
Since 2015, Global Connect Admin has experience in remote and hybrid working. To create the best hybrid workplace plan for your employees and your company, you need to analyze productivity and employee benefits. Many companies also tend to overlook what is possible in the legal aspect: Can employees work from any place they want to, or will your company experience insurance issues? If you have any questions regarding hybrid working, you can always reach out to us for tips and tricks.
4. Sustainability – Consumers find it essential, but do companies think the same?
Consumers went from requesting companies invest in sustainability to demanding it. The sustainability trend means that no matter the size of your company, you need to innovate your products and services for the greater good. More companies are now investing in green energy and sustainability projects. Meanwhile, international tax authorities are now also demanding sustainability reporting.
Recent years show that many international companies are already taking some actions regarding sustainability. For example, they switch diesel company cars to electric ones and invest in hydrogen projects. Meanwhile, the scarcity of Russian oil and gas further forces governments, companies and households to invest in different – more green – energy sources and solutions.
Sustainability goes further than thinking about how your company can impact the carbon footprint: you must now also think of society as a whole. If you only focus on, for example, your innovative products and services, you are only telling half of the story. Actions speak louder than words, so ensure to listen to your shareholders and customers and then implement the proper steps they want to see.
Global Connect Admin has experience in sustainability reporting regarding international groups. We assist companies with, for example, XBRL reporting. With XBRL software, EU-listed companies can effectively link their data to sustainability information (such as the ESEF taxonomy). Our employees are highly experienced in consolidated annual reporting and will gladly assist you and your team.
Whether global trends enhance or challenge your business, you have to take action for the short and long-term. Even small-sized companies that are only locally active are affected by international developments. The real question is, what can your company do to act accordingly? Your answer depends on which industries your company is active in and what type of products and services you offer. However, one thing is for sure: You need the right tools, expertise and resources to ensure that your business continues to prosper. Take the right actions and communicate accordingly, and you will come a long way.
Intercultural differences between West and East
A closer look into the Russian negotiation style
No secret that the west and Russia clash with different views and styles of communication. When taking a closer look at the intercultural dimensions of Hofstede, for example, you can already see vast cultural differences. What does this mean for your business communication? What should you be aware of when negotiating with the West and the East?
Keld Jensen and Michael Gates spoke about the Russian negotiation style and how to prepare for intercultural communication. Keld Jensen is an expert in negotiation, trust and behavioral economics. While he is a managing director of a listed Scandinavian company, he has more than 30 years of experience in international management, negotiation and communication. Michael Gates, managing director of CrossCulture, is an international expert on cross-cultural management. They wanted to share the Russian negotiation style with their expertise and background and gave insightful examples of why Europe and Russia often misunderstand each other.
Before we continue, we would like to share a disclaimer. The main goal is to educate, not to generalize, the Russian business culture. It is like the saying that all Dutch are direct: while this is generally true, very indirect Dutch also exists. Furthermore, we wish to give insights on the intercultural differences between Russia and the West, not to justify the actions of Putin.
Russians tend to trust 'the individual' rather than 'the system'
Gates stated that trust is an issue in general. Furthermore, there seems to be a gap in trust in every culture, especially when you take a closer look into ‘official’ and ‘personal’ trust. It is a long-time dilemma: If your friend commits a crime, will you lie in court to save them? In some countries, such as Russia and Korea, the answer is often “yes.” Yet, in other countries, such as Sweden and Finland, the answer is often “no.” These answers have to do with whether the people trust the system or the individual.
"I win, you lose"
When taking a closer look into negotiation, Russians tend to find winning the most important outcome. Gates stated that the Russian culture includes obsessions with strength and power. However, when you compare this obsession of strength to, for example, the United States, the Russian Federation tends to be more passive and patient, like Asian cultures. So if Russians tend to wait for the other party to speak first but want to ‘win,’ how do you prepare for negotiations?
Try to find a third way of negotiating instead of seeing negotiations as positional with a win-lose or lose-lose situation. Instead of acting from your frame of reference, try to understand the other party. What are the characteristics? How can the flow of communication go smoothly?
Important factors to know before you start negotiating with Russian enterprises
Geographically, Russia is divided into European Russia and Asian Russia since this country shares its land borders with sixteen countries. Therefore, it is no surprise that the Russian business and negotiation culture is European and Asian. While Russia is relationship-based like Europe, there are vast differences. For example, Russia is more passive and has much patience for doing business. As a European company, if you wish to make it big in Russia, you can only do so by having an extensive Russian network with solid relationships. When European companies negotiate, there is already a level of trust, namely the expectation that the other party also wishes the best for you. In Russia, this is no such thing; Business people tend to be more cautious and want to know what is in it for them.
The start of the negotiation: Be prepared to start strong
When your company starts negotiating with a Russian counterpart, they will most likely ask you first to tell what you think. Afterward, you will most likely hear a form of resistance due to the high level of cautiousness and suspicion. So you might wonder: How do I deal with this? How do I have a healthy negotiation with a partner who does not entirely seem to trust me? Well, Gates stated that you must be strict with Russians.
Russian governments and companies prefer hard power over European ‘soft power.’ To fight pressure, you need to respond with force. Negotiating expects to recommend starting your Russian business journey small but steady. Be well prepared, and expect matters to start slowly. Just as starting doing business in Germany, it takes time for the market participants to trust you fully. If you are working with trial and error, make sure not to do business with life-changing parties that negatively affect your business.
During the negotiation: Mirror and hold your ground
Negotiating and doing business in Russia is a long-term process with much pushing and pulling. It also often happens that Russians have different perceptions of truth. Just as in Korean culture, it is allowed to tell white lies. The views on white lies are often the biggest barricade between European and Russian business; being aware of this will benefit you during negotiations.
Russians tend to be cautious listeners interested in European enterprises, yet also suspicious. Russian culture is full of emotion. However, they do not show emotion and prefer apathy over empathy. You can see this in the way Russians smile. In the Netherlands, it is not uncommon to see people do small talk and smile while doing business. In Russian business life, smiling is seen as a form of intelligence. So actually, if you are communicating with Russian business people, and they never smile at you: See this as a compliment, not an attack. And if you smile, make sure to let your Russian counterparts know it is a form of politeness and trust from the west. Are you unsure how to act? Play it safe and secure by mirroring your negotiation partners.
Finishing the negotiation: Be patient and respectful
As seen in the infographic at the beginning of this article, Russia has a high level of power distance. In general, Russians have different views on trust based on system and personal levels. However, one thing is clear: If you want negotiating to go well, you must have a person in charge that is powerful and a true leader. Russia’s business style is very autocratic.
If you want to finish the negotiation on a positive matter, be sure to build and maintain a close relationship with the CEO and the people the CEO fully trusts. You will find that the process will go much quicker, and the level of trust gaining to go much faster.
Jensen shared a clear overview of steps to take during negotiations, namely:
-Replace if necessary. Does the personal chemistry not work as intended? Do not be afraid to replace negotiators on both sides.
– Silence is key. If you are unsure how to react to certain provocations, respond by silence.
-Do not be afraid to delay the negotiations. Think long-term.
-Be clear in your communication. Choose precise formulations and provide an alternative when necessary.
-Empathy works in the west, apathy in the east — play along with your negotiator. Do not be afraid to think from a different mindset than you usually do.
-Ask questions to make the other party feel heard and show that you respect them.
-If you have no other option, fighting is more effective than giving in.
In the end, Russian organizations that are internationally active will be less challenging to negotiate with than Russian-only enterprises. Currently, doing business with Russia is not recommended due to international sanctions and actions. We hope to show that it is easy to misunderstand other cultures. If you have any questions regarding your international business, please do not hesitate to reach out to us. We will gladly assist you.
Actions speak louder than words
How authenticity enhances your brand
Time and experience show again and again that actions speak louder than words. Think of brands in general: Which brands stick to you and why? Companies often underestimate and overestimate the expectations of consumers and stakeholders. What do they actually experience? How much is your brand aligned with its reputation?
It is not uncommon to see brands either accidentally perfectly hit the mark or completely misread the room (with the room being the needs and desires of the customer). When brand messages jar with what people feel, experience, and believe, we call this the ‘Authenticity Gap.’
What is the Authenticity Gap?
The Authenticity Gap is the alignment between customer expectations and experiences. Since 2012, FleishmanHillard, one of the advisory labels of Omnicom PR Group, has been studying the authenticity between consumers and brands. With decades of experience navigating these gaps, FleishmanHillard and Omnicom PR Group assist organizations with authenticity in branding. In these ten years, they have researched 80 Dutch companies from various industries and interviewed 1000 consumers.
If you want to brand correctly, you need to be aware of your company’s level of authenticity. To fully enhance your branding, you have to keep up with the evershifting brand expectations and learn how authentic voices impact customers, partners and stakeholders the most. Long story short, to more authentically engage with your audiences; you need to judge your level of authenticity, discover where improvements can be made and compare yourself with your peers.
The consumer is the key to success
To understand and act on your gap between stakeholder expectations and their actual experiences, you can benefit from discovering what drives them. The Authenticity Gap study shows Nine Drivers of authenticity. These drivers act as a framework to give insights on customer benefits, society outcomes and management behaviors. The key takeaways of these Nine Drivers are:
Companies often make one common mistake: They only predominately talk about their products and services. By doing this, they only tell half of the story consumers want and need to hear. To tell the whole story, companies need to share their impact on society, including what the management thinks and does. For example, creative accounting used to be a trend but is now seen as tax evasion. Simultaneously, putting ‘celebrity CEOs’ at the forefront used to boost the image and reputation of a company. Nowadays, companies need to put their management teams at the front, providing clear information on their views and strategies regarding climate change, cyber security, and data privacy. If the management is unclear in their messaging, this will negatively affect trust, transparency and image.
The Authenticity Gap studies show that companies tend to overperform on lesser important drivers while underperforming fundamental drivers. Every industry has its own important set of drivers, yet every organization should pay attention to the authenticity gap.
How to narrow the gap
According to the research of FleishmanHillard, 65% of Dutch informed consumers believe that a company’s credibility (compared to its competitors) depends on the transparency of company behaviors and impact on society and the environment. While drivers differ per industry, results show that brands in all sectors fall short on expectations on better value, customer care and environmental care. If you want to narrow the gap, you need to think of your company’s position in authenticity.
The answer to closing the gap between your company and society is challenging but not impossible. Consumers expect companies to be part of the solution to societal and environmental issues. This means fewer promises and more solutions. Therefore, your company should:
-Provide a diverse, inclusive and equal work environment
-Listen to the needs of customers
-Share corporate actions against climate change
-Be transparent regarding data privacy and cyber security
No matter the company size and industry, the need to listen and respond to consumers’ needs and desires never changes. There is a reason why consumers seem more demanding: Companies often act as some form of role model when it comes to consumer issues. Thinking of the bigger picture often results in better strategic decisions and fiscal growth.
We at Global Connect Admin know what you can expect when it comes to authenticity in financial management positions. We have a long history and extensive experience in assisting companies worldwide with the organization of annual general meetings and administrative board meetings. Simply call or write to us, and we will gladly work together with you to see how to close the authenticity gap in international management.
Omnicom PR Group – FleishmanHillard
The freezing tensions between the EU and Russia
And how this affects your business
Whether you represent a company, political party or government, actions tend to have consequences. While many hope to see the year 2022 as the year of healing, both economically and culturally, past tensions are throwing mud in the water. Conflicts that affect the bilateral political dialogue between the European Union (the EU) and the Russian Federation (Russia) are not new, yet it is still considerably unclear what will happen next. Will the EU citizens sit in the cold and the Russian citizens without certain necessary goods? Or will we be able to celebrate warm holidays and further enhance international trade?
Policy dialogues and cooperation are temporarily frozen
The aftereffects of Russia’s annexation of Crimea in 2014 can still be felt in 2022. The world watches Russia’s threats towards a war with Ukraine, unsure if these threats are empty or not. As a result, some policy dialogues and mechanisms of cooperation between the EU and Russia are temporarily frozen. The next question is, will this dialogue continue to freeze shut, or will the two international positions of power allow international defrosting? However, the EU and Russia’s stagnated relationship was not always like this. Both share similar global goals and extensive history in cooperation and trade.
The history of cooperation between the EU and Russia
The European Union and Russia share a longstanding history. Next to cultural, economic and historical ties, Russia is one of the most prominent neighbors in the EU’ neighborhood.’ In the past 25 years, Russia and the EU have exchanged information and cooperated in various international matters. They share bilateral global concerns regarding:
With Russia’s permanent UN Security Council membership, the country also engages in various selected points of interest of the EU, which was proven by the implementation of the Minsk Agreements. These Agreements were supposed to put an end to the war in east Ukraine. However, while this seemed like a path to peace back in 2014, the tensions between Russia and Ukraine are still very much alive.
The Partnership and Cooperation Agreement (CPA)
In general, the framework of the political and economic relationship between the EU and Russia is the Partnership and Cooperation Agreement (CPA). Since 1997, the goal of this Agreement has been to promote trade, investment, and the development of economic relations between the two parties. However, what started as healthy manure has slowly but surely transformed into a minefield.
In 2008, the EU and Russia started negotiations of a New EU-Russia Agreement. However, this Agreement is still postponed to this day. With the current challenges in dialogue, the two parties can agree that the existing conversation is either limited or non-existent. Like a domino effect, the EU and Russia are heavily involved in international trade, affecting everyone. What can investors and enterprises expect for the future of their company?
Your opportunities in trade, even with the limitations
Societies, governments and businesses are affected by the EU-Russia tensions; that much is clear. The EU and Russia adopted laws, resulting in various import and export restrictions. Since 2012, Russia moved from third place to fifth place as the EU’s biggest trade partner.
Even with the trade restrictions, the EU still remains Russia’s most prominent trade partner. In 2020, Russia remained representative of 5% of the EU’s merchandise trade. This bilateral trade in goods consisted of €174 billion, which is around 40% of Russia’s trade.
The future of the tensions between the EU and Russia
The EU continues to apply a set of restrictive measures against Russia in response to the Ukraine crisis. As a result, Russia responded with countersanctions. Experts from the Atlantis Council are concerned about the EU’s response to Russia yet state that both parties have various options. The EU should build a common strategic culture in order for European countries to stick together. Simultaneously, both Russia and the Eu are investing in the Transatlantic region for future endeavors. Therefore, it is most likely that the two parties will drive further apart.
Furthermore, in order for Russia and the EU to start an open dialogue again, both parties should look at their strengths and impacts. However, seeing a harmonious EU-Russia relationship in the short term will be most unlikely. While both parties may share similar international goals, they also share different views regarding what is best for them. In this case, the negative highly outweighs the positive.
In the end, Russia and the EU are dependent on each other in one way or another. Just like a neighbor quarrels, only time and actions can tell what the future brings. With the world as a global village, governments and authorities do need to reflect on their position of power: What message will they send out, and what strategies should they entail? One thing we do know is that the current state of affairs will continue to strongly affect international businesses, whether we like it or not.
Are you concerned about your position in international trade? Global Connect Admin has an extensive background and expertise in European and Russian matters, especially regarding international business, financial management and accounting standards. If you require any form of assistance in complex company situations, do not hesitate to reach out to us. Instead of lingering on restrictions, we would gladly review possibilities with you.
Your Global Connect Admin Team wishes you Happy Holidays!
2021 has been yet another challenging year for everyone. We want to thank you for your continued support. We hope you enjoy the holidays to your fullest.
We have prepared a New Year’s gift: A free webinar on Starting with XBRL
In January 2022, we will help you understand what XBRL is, how your company can benefit from it, and how to avoid missing small yet essential details.
With the Covid-19 pandemic changing the working dynamics across the globe, the 40-hours work week is transforming into a flexible job from home. This two-year process now enters the stage of governmental supervision. With this increase in employees working from home, and the fact that employees would like to have the ability to work from home, the Dutch government introduces from 2022 onwards the working-from-home allowance. Is this mandatory? Does this include taxes, and what does this new regulation do with the existing travel allowance?
Coverage and the new work-from-home trend.
Working from home is the increasingly popular alternative for spending all the days at the office. With the increasing demand by employees to cherish this new system, and the fact that staying from home stimulates the climate-friendly approach of working, working from home is a trend. Instead of travelling by car or plane to your office of clients, Zoom calls and Teams meetings are frequently used to (partly) replace the co2 polluting alternative, and thus emphasises the cautiousness toward the climate.
In a survey by the employers’ association AWVN, 60% of the inquired 450 Dutch companies replied that working 2 days from home can be the new norm(al). In this light, combined with the rise in the percentage of employees working from home due to the pandemic, the Dutch government introduced the working-from-home allowance starting from the first of January 2022. This new regulation is a tax-free allowance consisting of maximally 2 euros per day. This allowance is the extra costs for the employee that can be paid by the employer and includes for instance the water and electricity usage (for the computer), heating, coffee, thee and even toilet paper.
The new regulation
After research by Nibud, the amount of the working-from-home allowance is fixed at a maximum of 2 euro per day or part of a day worked from home. The employer does not need to pay payroll tax over this allowance. The tax-free travel allowance keeps existing and is fixed at 0,19 cents per kilometre. And most importantly, the employer can give the working-from-home allowance or the travel allowance per day of work.
To maintain clarity, for both the employer and the employee, contractual rules can be made to assure the days that the employee works from home, or is at the office. In this manner, the employer can calculate the monthly allowance and does the employee not need to self-handed note the days worked from home or the office. After establishing these rules, and the employee incidentally works from home instead of being present at the office, the calculated allowance does not need to be changed. Only in the case of structurally changing the working flow, the allowances need to be altered to the changing situation.
Some employees work one part of the day at home and the other part at the office. Here, the employer chooses to either give the working-from-home allowance (2 euros per day) or the travel allowance (0.19 cents per kilometre). The employer cannot give both these allowances. Employers also have the choice to let the employee choose. In the case of living far from the office, the travel allowance would be more beneficial for the employee. This can differ from the employer.
Is the working-from-home allowance mandatory?
Starting from 1 January 2022, employers can give working-from-home employees a tax-free allowance of a maximum of 2 euros per day. This allowance is not mandatory, but can be imposed on the employer in the case working from home is integrated into the branch-related CAO. While not mandatory, employees might expect to get this allowance and can showcase their goodness and willingness as an employer. Potentially, this can stimulate employees to stay longer or attract new employees more easily, as it guarantees the company to not suffer under the employee shortage.
The employer pays the working-from-home allowance themselves. This is not compensated by the Belastingdienst (tax authorities). Removing the payroll tax from this allowance is a method by the government to stimulate the companies to give this allowance to the employees. If the employer wants to compensate more than 2 euros per day, payroll tax needs to be paid over the initial 2 euros.
Home workplace equipment
To decorate the home workplace, the employer is already able to give a tax-free allowance. The costs for needed equipment for this home workplace such as a computer or a phone can be done through the already-existing werkkostenregeling (WKR) (work-related cost arrangement). While the CAO can include liabilities regarding the home workplace, the home workplace allowance is, on par with the working-from-home allowance not mandatory. Furthermore, according to the Arbowet, every workplace needs to be included in the Arbo health and safety policy. The employer or company needs to assure that the workplaces, including the home workplaces, are ergonomically designed and have the correct equipment to let the employees correctly and healthy work (from home).
With the new demand for working at home, the Dutch government established the new working-from-home allowance that covers the basic needs of the employees and does not include payroll taxes. While this allowance is not mandatory, incentives to pay this financial contribution are showing willingness and goodness of the employer, attracting new employees or maintaining employees in the current era of employee shortage. Next to this allowance, the travel allowance stays in existence with the rule that only one of these allowances can be applied. In the case of working from home and working from the office on the same day (two different parts of the day), only one allowance can be given. While the working-from-home allowance is not mandatory, the branch-related CAO should also be taken into consideration for the correct rules and regulations.
Curious about these new allowances, or your want more information about personal advice regarding international business advice, tax situations or consolidation? Global Connect Admin B.V. can assist you with these challenges due to the rich experience and framework of connections.