Belgium

Belgium scraps quarterly prepayments

February 11th, 2017

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 …


Belgium

Belgium 6% e-book VAT

July 24th, 2016

Belgium is looking to reduce the VAT rate on electronic books from its standard rate of 21% to the reduced rate of 6%. Its Parliamentary Committee for Finance last week agreed to lower the rate, and syncronise its printed and e-book rates. In 2015, the European Court of Justice ruled that all member states must …


Belgium

Belgium VAT online betting July 2016

June 5th, 2016

Belgium is to make online betting subject to 21% VAT from 1 July 2016. Under the EU VAT Directive, member states are no obliged to charge VAT on betting or games of chance for cash or prizes. Many countries instead chose to levy betting taxes instead, which enables a wider scope for rates and higher …


Belgium

Belgium VAT registration threshold rise 2016

September 14th, 2015

Belgium has proposed raising its VAT registration threshold from €15,000 to €25,000. The new Belgian VAT level will come into force on 1 January 2016. The change applies to Belgian resident companies. Non-resident companies selling in Belgium, and obliged to Belgium VAT register, still face a nil VAT registration threshold. Other EU VAT registration thresholds …


Belgium

Belgium reforms VAT invoice tax point

July 9th, 2015

Belgium is to complete a long-delayed change to the tax point on invoices. A new proposal will set the tax VAT is due as the date of issuance of the invoice. If the vendor fails to issue any invoice for the taxable supply by the 15th of the month following, then the VAT becomes immediately …


Belgium

Belgium told to raise VAT by IMF

March 25th, 2015

The International Monetary Fund (IMF) has recommended that Belgium consider rises in its VAT rates to help fund labor tax cuts to improve global competitiveness. Belgium has already scheduled a cut in the social security levies from 33% to 25% through cuts elsewhere. But the IMF has suggested that a rise in the reduced VAT …


Belgium

VAT & logistics import gateways into the EU

February 18th, 2015

Recent attention on goods importing, as has been seen in Belgium, will be of interest to those non-EU companies looking to forge channels into the EU. Belgium VAT‘s special ET 14000 scheme, where import VAT can be deferred onto VAT return filings, rather than by cash payment, no longer require companies to provide a pre-financing …


Belgium

Belgian Intrastat

January 8th, 2015

As part of the EU free market reforms in the mid-1990’s, a new system was introduced to record the movement of goods across European borders. This system, known as, Intrastat filing, captures details and values of intra-community trade. When do Belgian Intrastat declarations have to be completed? When Belgian VAT registered companies, either resident or …


Belgium

Belgian EC sales lists (ESL)

January 8th, 2015

Where goods are sold (dispatched) by a Belgian VAT registered business, an EC Sales list (ESL) may be required. These listings enable the Belgian and other EU tax authorities to compare the declared VAT transactions to ensure consistency and full declarations for any tax due. Since the 2010 EU VAT Package, companies must also produce …