The Belgian Chamber of Representatives has approved the bill that will modernize the VAT chain as from 2024. Aiming at reducing the ‘VAT gap’, (which currently stands at 4.4 billion euros in Belgium), the purpose of these changes is also to tackle the slow procedure and manual processing of unsubmitted VAT returns by improving the VAT compliance chain with a set of new rules. The main changes of the VAT legislation are summarized hereafter.
Source EY
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