Postponed Accounting System for Import VAT in Belgium: Conditions and Benefits Explained

• Import VAT in Belgium requires pre-financing of taxes
• Belgium has a postponed accounting system for import VAT to avoid pre-financing
• Conditions must be met and procedures followed to apply the postponed accounting system
• Obtaining the license takes about a month and is valid from the date it is granted
• Revocation of the license can occur if transactions are not reported on VAT returns
• Managing cash flow is important due to VAT system’s impact
• Companies importing goods into Belgium should consider VAT exemptions and registration
• Check conditions for applying postponed accounting or deferred payment of import VAT in Belgium.

Source: vatdesk.eu

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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