Belgium is to withdraw the obligation to pay prepayments on the VAT liability for companies that file on a ….
Belgium is to withdraw the obligation to pay prepayments on the VAT liability for companies that file on a quarterly basis as from 01/04/2017. It is not yet officially published.
Businesses with an annual turnover of max. of 2.500.000 € (or of 250.000 € for some specific sectors) are allowed to file only quarterly (monthly filing is actually the rule). However, when filing quarterly businesses are – so far – required to make advance payments against their liabilities. These advances are calculated as one third of the liability of the previous quarter, and are due on the 20th of the second and third months of each quarter. At the end of the quarter, only the balance of the VAT due for the quarter in question is to be paid. This will now be abolished, but as mentioned, this is not yet officially published in the Belgian Gazette. The December advance however is still to be paid both by monthly as by quarterly filers. This way; both kinds of filers are treated equally.