Belgium is to withdraw the obligation on quarterly VAT filers to pay prepayments on their VAT liability.
Small businesses may at present opt to file only quarterly in Belgium as opposed to the regular monthly filing requirements. However, they are required to make regular advance payments against their liabilities. This is calculated as one third of their previous quarter’s liability, and is due on the 20th of the second and third months of each quarter. At the end of the quarter, the balance of the VAT collected in the quarter can be reconciled and paid.
The new measure will apply from 1 April 2017.
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