Restructuring of fiscal debts

What if you can no longer repay your tax debt?

Many entrepreneurs have been struggling with heavy tax debts since the corona period. Now that the Tax Authority is actively collecting again, the pressure is increasing. If you can no longer meet your tax obligations, do not wait until a seizure is imposed. Take action yourself in a timely manner. By acting promptly, you increase your chances of a successful debt restructuring, including (partial) cancellation of tax debts.

Offering an agreement to the Tax Authority

The Tax Authority is willing to cooperate under strict conditions for a partial cancellation of debts. An important condition is that your business must be fundamentally viable. 

There are two routes:

• A voluntary creditors' agreement, where all creditors agree to the proposal;
• A WHOA agreement, where the agreement becomes binding with the approval of the court, even for dissenting creditors.

Offering an agreement is complex, as the business is burdened with liquidity problems and the interests of all creditors must be taken into account. The liability of a director is lurking. We keep track of the overview for you and safeguard the legal framework. We help you choose the right strategy and prepare a convincing proposal.

Our approach

We have extensive experience in submitting requests for cancellation to the Tax Authority and other creditors. Thanks to short lines with the tax authorities and our expertise in restructuring, we can act quickly and decisively. We are your sparring partner and guide you in:

• Assessing the viability of debt restructuring;
• Developing an action plan;
• Making decisions under liquidity pressure;
• Correspondence and negotiations with creditors;
• Preparing a creditors' agreement (voluntary or via WHOA);
• Legal proceedings.

Prevent liability

Restructuring offers opportunities but requires timely and particularly careful action. You want to do right by all creditors while preventing personal liability. A good strategy and formulating the right proposal can make the difference between recovery and demise of the business.

Do you have tax debts and want to know if restructuring is possible? Contact our specialists for a quick and realistic assessment of your options.