In the Netherlands, Xolo makes it easy for freelancers and sole proprietors (eenmanszaak) to manage deductions from invoices and reduce tax liabilities. Here’s how Xolo simplifies the process:
Automated Expense Tracking: Xolo helps you track business expenses, such as office supplies, travel, and professional services, by allowing you to store receipts and invoices all in one place.
Seamless VAT Deduction: When filing your VAT return, Xolo automatically calculates the VAT paid on business expenses (input VAT) and deducts it from the VAT collected on sales (output VAT), reducing the amount you owe to the Dutch tax authorities.
Compliant Record-Keeping: Xolo ensures that all expense records are stored securely and organized, making it easy to maintain compliance with Dutch tax regulations and prepare for potential audits.