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Belgium Extending Reduced VAT Rate on Electricity and Natural Gas and Planning Excess Profits Tax for Energy Companies

The Belgian Prime Minister has announced that the government has decided to extend support measures to deal with rising energy costs. Among other things, this includes the extension of the 6% VAT rate on electricity and natural gas supplies until 31 March 2023. Further to the support measures, the Prime Minister also announced that the government will take the necessary steps to “skim” the excess profits that some energy companies are currently making (i.e., introduce an excess/windfall profits tax). However, no details have been provided.

Source Orbitax

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