The bill to modernize the VAT Chain was approved by the Belgian Chamber on March 2, 2023. The bill brings significant changes to VAT filings, refunds, and procedural rules. In this post, we have summarized the most important changes.
The aim of the new legislation is to reduce the ‘VAT gap’, which is the difference between estimated VAT revenues and actual income. At present, this gap amounts to 12% (4.4 billion EUR).
Source VATConsult
