Update on VAT Chain Reform

• Belgium has adopted legislation aimed at modernizing the VAT procedural rules, which will come into effect from January 1, 2024.
• Key measures include
  • the abolition of the VAT current account and the introduction of the VAT provision account
  • a new declaration period,
  • strict deadlines for submission of VAT returns
  • automatic VAT return proposals in case of late submissions
  • a delay of one month for responding to requests for information from the VAT authorities

Source RSM

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