The Belgian Parliament Feb. 7 accepted for consideration Bill No. 55K3128001, to modernize the VAT collection and payment system, effective Jan. 1, 2024. The bill includes measures to: 1) introduce automated processing of periodic VAT declarations and payments; 2) add a substitute declaration procedure, for cases when taxpayers fail to submit their periodic VAT declarations within three months after their original due date; 3) allow taxpayers one month to appeal and submit actual VAT declarations, after issuance of a substitute declaration; 4) allow monthly VAT credit refunds, without the need for prior authorization; and 5) extend the deadline for VAT…
Source: bloombergtax.com
