VATupdate

New developments in VAT legislation

The Belgian Parliament will adopt new legislation regarding various provisions on Value-Added Tax (VAT). The new legislation includes changes to the VAT exemption for certain non-profit organizations, the supply of furnished accommodation, the deduction of VAT based on the actual use method, the abolition of a flat-rate VAT scheme and VAT refunds for companies based outside the EU.

In addition, the Belgian Minister of Finance, Vincent Van Peteghem, has issued a new policy note on various matters, including the reduced VAT rate of 6% on demolition and reconstruction of private dwellings, mandatory e-invoicing of B2B transactions, the VAT exemptions for furnished accommodation as well as for medical services and an expected update on the circular letter regarding the concept of a fixed establishment.

Source EY

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