Belgium raises quarterly VAT return threshold

Belgian VAT returns are generally submitted on a monthly basis.  However, there is a quarterly filing option for smaller businesses.  The annual turnover threshold for companies qualifying for this quarterly option has been increased from the start of 2014.

The new reporting threshold is companies with taxable Belgian income below €2.5 million.  Up until 2013 it had been €1 million per annum.  Any companies above the €2.5m limit must submit monthly filings.

The new limit remains a voluntary threshold.  In addition, any company making VAT-exempt intra-community supplies into Belgian must also file monthly returns irrespective of their annual taxable turnover.  Taxable businesses on quarterly returns must also prepay 1-month’s VAT based on the taxable turnover of the previous month.  The balance is then settled at the time of the next return.  Returns in Belgian must be filed by the 20^th of the month following the reporting period.

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