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.

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