Reforms of VAT returns in Belgium
The following changes have been announced and will come into effect from 01.01.2024:
- It is possible for the monthly filers to receive the VAT refund on a monthly basis. Currently, the monthly filers need to wait until the end of the quarter.
- 5 days extra for submitting the VAT returns. The VAT return needs to be submitted within 20 days after the end of the period. After January 1, the VAT return needs to be submitted within 25 days after the end of the period.
- In the absence of VAT returns or late VAT returns, the Belgian tax authorities will impose assessments. These assessments will be based on the highest VAT amount declared in the past year.