Blog & Columns | Pavan Geraedts

404 Articles

August’s Retail Lift Demands Better Buying, Not Bigger Bets

Oct 9, 2026 Market Pulse

Paolo Maria Pavan

Dutch shoppers spent more in August, led by furniture and other non-food categories. Retailers now need tighter buying, reconciliation and cash control to turn that growth into a durable result.

Dutch retail MARKET PULSE Retail management cash flow e-commerce inventory margins

Where EBITA Rewards Meet Sale Value, Deductibility Is at Stake

Oct 9, 2026 Ledger & Tax

A cash EBITA or exit bonus can become more expensive when its formula follows company value closely enough to restrict its Dutch corporate-tax deduction.

EBITA Employee bonuses LEDGER & TAX M&A Netherlands Tax deductibility corporate tax

The Dutch Productivity Rebound Has a Contract and Cash Problem

Oct 8, 2026 Market Pulse

Paolo Maria Pavan

Dutch productivity has rebounded, but greater output per hour does not automatically improve profit or liquidity. Contracts, pricing, records and cash conversion determine whether firms preserve the gain.

DUTCH ECONOMY GOVERNANCE MARKET PULSE cash flow contracts productivity

The Share Award Is Generous Until Payroll Needs the Cash

Oct 8, 2026 Ledger & Tax

A Dutch BV can reward an employee with shares while creating an immediate wage-tax bill. The real decision must align valuation, payroll, cash and governance.

Dutch tax Employee shares GOVERNANCE LEDGER & TAX corporate tax payroll wage tax

A Management Invoice Cannot Rescue a Hollow Assignment

Oct 7, 2026 Compliance

Paolo Maria Pavan

When a director works inside an operating BV, an assignment agreement with the holding may not determine the payroll outcome. The actual work, authority and payment route must align.

COMPLIANCE Dutch tax Employment status customary salary holding BV payroll

When the Management Fee and the Working Reality Part Ways

Oct 7, 2026 Ledger & Tax

A management fee, the salary paid and the salary recognised for Dutch tax purposes serve different functions. The decisive issue is whether the contracts and payroll treatment match the work actually performed.

Dutch payroll tax LEDGER & TAX customary salary director-shareholders holding structures management fees through-payroll scheme

Dutch New Build Has Plenty of Need, but Too Few Commitments

Oct 7, 2026 Real Estate

Paolo Maria Pavan

Dutch new-build sales are falling even as housing need remains acute. Developers need sharper distinctions between permits, reservations, contracts and dependable cash.

Construction finance Dutch housing New build REAL ESTATE Real estate development project governance

Good Intentions Cannot Backdate a Tax-Free Staff Allowance

Oct 7, 2026 Ledger & Tax

Good intentions do not make an ordinary fixed expense allowance retroactive. Dutch payroll treatment depends on prior research, evidence, entitlement and timely WKR designation.

Dutch payroll tax Expense reimbursement LEDGER & TAX Payroll governance Staff allowances WKR

The Empty BV Still Leaves Directors With Questions to Answer

Oct 7, 2026 Governance

Paolo Maria Pavan

An Amsterdam judgment shows why directors must be able to explain asset movements, continuing activity and the final nil-assets balance sheet before a BV is dissolved.

Creditors Dutch corporate law GOVERNANCE Turbo-liquidation director liability

Grafimedia Agreement Meets a Sector Still Waiting for Orders

Oct 7, 2026 Human Resources

The binding Grafimedia agreement arrives while paper and graphic businesses face weak orders, higher labour costs and difficult choices about pricing, staffing, investment and cash.

Grafimedia HUMAN RESOURCES Printing industry collective agreements labour costs payroll pricing

A Changed Payment Can Expose the Weakness in Customer Checks

Oct 6, 2026 Compliance

Paolo Maria Pavan

A changed payer can reveal whether customer due diligence is a living business control or merely a completed onboarding file. AMLA’s standards make that distinction increasingly important.

AMLA Anti-Money Laundering COMPLIANCE Customer due diligence Wwft third-party payments

Operational Lease Can Leave Historic Tax Losses Stranded

Oct 6, 2026 Real Estate

Paolo Maria Pavan

Profitable operational leasing does not guarantee that a Dutch BV can use its historic tax losses. Their legal character, formal status and transaction history determine whether relief is available.

Dutch corporate tax Holding companies M&A Operational leasing REAL ESTATE Tax losses

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