- Starting from January 1, 2025, the VAT exemption scheme for small businesses in Belgium will be applicable across EU borders.
- This expansion is the result of a European directive (EU Directive no. 2020/285) that was recently transposed into Belgian law.
- The updated scheme introduces a dual turnover threshold, with a national threshold of 25,000 EUR and an EU turnover threshold of 100,000 EUR.
- Belgian businesses can now apply the small business scheme in other EU countries, while foreign businesses can sell in Belgium under the exemption if they meet the conditions.
- New formal obligations will be introduced to ensure compliance with the applicable thresholds. The scheme will take effect on January 1, 2025.
Source VATconsult
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