VAT News

Belgium-Abolition of quarterly prepayments

Under the current VAT rules in Belgium, taxable persons who file VAT returns on a quarterly basis are required make prepayments of VAT by the 20th day of the 2nd and 3rd months of the VAT quarter. These payments are based on the VAT liability of the previous quarter and can impact on cashflow as the liability for the current period may indeed be much lower.

With effect from 1 April 2017, these prepayments will no longer be required and only a prepayment for the 4th quarter will be required by 24 December 2017.

Related articles

France Cracks down on VAT Fraud on e-commerce 

In a bid to further their clamp down on digital tax and VAT fraud, the French VAT authorities have released further details about the obligation for online e-commerce businesses to provide extensive details about all French sales.

Read more
South Africa: Digital Services VAT and Who Needs to Register for it

South Africa is broadening its definition of what constitutes a digital service forcing VAT registrations in the country.

Read more
Making Tax Digital: Are you Ready for Phase 2?

When Phase 2 of Making Tax Digital is rolled out in April of 2020, over one million businesses of all sizes will be affected by major factors that were not prevalent in phase 1.

Read more