FINANCE

International staff > Practical matters

BANK AFFAIRS

Next to INAmsterdam you will find a local branch office of ABN AMRO bank. You are free to open an account at any bank you wish in the Netherlands but international employees, PhD Candidates and guests of VU Amsterdam usually have an account at ABN AMRO bank. Top open an account you need to bring a valid passport, a copy of your employment contract with VU Amsterdam, a proof of your Dutch address and provide the bank with your citizen service number. 

TAXES

In the Netherlands, income tax is charged on three different types of income, with each type of income classified into a separate regime or ‘box’ as follows: 

1.   Box 1: Income from employment and home ownership. 
2.   Box 2: Income from substantial interest in a corporation. 
3.   Box 3: Income from savings and investments. 

Contact details Dutch Tax Administration: 
www.belastingdienst.nl
T +31 (0)55 5 385 385 (from the Netherlands) or +31 (0)555 385 385 (from abroad) 

30% RULING

Dutch employers may pay expats who have specific expertise that is scarce in the Dutch labour market 30% of their wages as a tax-free allowance for extraterritorial expenses, without the need to submit further evidence. Application for the 30% rule first requires the permission of the Dutch Tax Administration, and will then be granted for a maximum of 5 years. The expat and the employer will have to file a joint request to the tax authorities for this. For further information to arrange the application for the 30% rule, please do not hesitate to contact us via servicedesk.hrm@vu.nl

PENSION

The Dutch AOW pension (paid under the National Old Age Pensions Act, AOW) is the basic state pension. As a rule, everyone who had reached the AOW pension age and lives or has lived in the Netherlands is entitled to a state pension. This comes into effect from the day you reach the state pension age that applies for you. It makes no difference in which country you live at that time. The Sociale Verzekeringsbank (SVB) is the organization that implements the state pension scheme in the Netherlands. 

SOCIAL SECURITY

The Netherlands has an extended social security system, which provides financial security when your income is affected by events such as illness, job loss or old age. There is a division within the social security system between the general national insurance schemes and the income-related employee insurance schemes. Besides these schemes, there are several other social provisions which might be relevant to you. Whether or not you fall within any one of these schemes depends on your situation, for instance if you are an employee of VU Amsterdam, or a guest. 

Another important aspect is that people from EU Countries who work in several countries are only covered by the social security system of one country. 

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