- Royal Decree Published: On October 23, 2024, Belgium published a Royal Decree modernizing its VAT system.
- Elimination of VAT Current Account: The VAT current account will be replaced by a VAT provision account for greater flexibility in managing VAT credits and liabilities.
- New Sanction Mechanism: From 2025, failure to submit VAT returns will result in an automatic substitute return with a minimum charge of €2,100.
- Extended Filing Deadline: The deadline for quarterly VAT returns will be extended to the 25th of each month, while monthly deadlines remain unchanged.
- Revised Refund Procedure: Refunds will now only apply to the current filing period, and monthly filers can request refunds without a special license, receiving them within two months.
Source: VATconsult.be
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Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
