How the amount is calculated
The amount at the top of your overview has two parts. Mizara adds them up and rounds up to whole euros.
- VAT for the current quarter. VAT on your invoices minus VAT on your expenses. If you'd get money back on balance, that doesn't count towards the amount.
- Income tax and Zvw for this year. Mizara calculates your profit so far, subtracts the self-employed deduction, starter deduction and SME profit exemption if you qualify, applies the rates and tax credits and adds the Zvw contribution. A 2% margin goes on top.
A worked example is in how much tax to set aside.
Your tax profile
The more accurate your profile, the better the estimate. In Mizara you indicate, among other things, whether you meet the hours criterion, whether you get the starter deduction and whether you use the small business scheme (KOR).
What it doesn't include
You only learn your final income tax after filing your return. If you have a provisional assessment (voorlopige aanslag), you're already paying part of it. If it doesn't match what you expect, you can change it in Mijn Belastingdienst.
From overview to tax return
For your VAT return, Mizara prepares the amounts per box. Figures for the EC sales list (ICP) and your income tax are ready too. You file them yourself, with the Belastingdienst.
Frequently asked questions
How accurate is the estimate?
As accurate as your bookings and your profile. Mizara uses the tax year's rates, but doesn't know your whole situation. Use it as a guide and check your return yourself or with your accountant.
Does Mizara account for what I'll earn in the rest of the year?
No. The amount is based on your bookings so far. You set aside for what you've already earned, not for a forecast.
Why a 2% margin?
It absorbs small differences in rounding, rates or a forgotten item. It's a small buffer, not a guaranteed upper limit.