Belgium: VAT Payment Process to be Modernized

Spread the love

Belgium is poised to modernize its VAT collection and payment system starting January 1, 2024. The proposed Bill No. 55K3128001, which is currently being considered by the Belgian Parliament, includes various measures aimed at simplifying and streamlining the VAT declaration and payment process for taxpayers.


One of the significant changes proposed by the bill is the introduction of automated processing of periodic VAT declarations and payments. This will reduce the administrative burden on taxpayers and make the process of submitting VAT declarations and payments more efficient. In case of non-submission of VAT declarations, the bill provides for a substitute declaration procedure, allowing taxpayers to submit declarations even after the original due date.


Under the new system, taxpayers will have one month to appeal and submit actual VAT declarations after receiving a substitute declaration. Additionally, monthly VAT credit refunds will be permitted without prior authorization, making the VAT refund process faster for businesses.


The deadline for VAT declarations and payments will also be extended to the 25th of the month following the declaration period, from the current deadline of the 20th, applicable to taxpayers required to submit quarterly declarations.


These changes are expected to bring several benefits to Belgian businesses, as they will be able to spend less time on administrative tasks and more time on other aspects of their operations. The introduction of automated processing will also reduce the risk of errors that can lead to penalties and fines.


The proposed bill is a positive development for Belgian businesses, and it is hoped that the changes will make the VAT declaration and payment process more user-friendly and efficient. If approved by the Belgian Parliament, the bill will be effective from January 1, 2024.



Source: dekamer.be

Follow us on LinkedIn to keep up with the latest VAT news

Join us!

Subscribe to our monthly newsletter
download dac7 report

Free Download - DAC7 Report

New DAC7 reporting obligations for online platforms and marketplaces came into effect! Learn all about it in our DAC7 report

You have Successfully Subscribed!