Belgium: Small businesses have until June 10 to elect VAT exemption regime for 2022
The Belgian Federal Public Service-Finance has announced an important deadline for small businesses to elect the franchise regime. According to the announcement made on April 28, small businesses with turnover under 25,000 euros (US$27,528) for the previous calendar year are eligible for the regime, which exempts them from most VAT obligations.
The deadline to elect the regime for 2022 VAT exemptions is June 10. It is important to note that businesses with turnover under the threshold for 2022 will receive a letter from the Tax Authority in May explaining the regime’s terms and conditions.
Source: finances.belgium.be
