Belgian Parliament Expands VAT Exemption Scheme for Small Enterprises: Key Changes and Implications

Belgian Parliament approves expansion of VAT exemption scheme for small enterprises
Businesses with annual turnover up to 25,000 EUR can opt for the special exemption scheme
Excluded businesses include VAT groups, contractors, hospitality sector, waste trading, and rental of furnished accommodation
Scheme is optional and has a European legal basis
Foreign businesses can now also benefit from the exemption scheme in Belgium
Dual turnover threshold ensures fair competition in applying the exemption in other EU countries
Prior notification required for businesses applying the exemption scheme in another EU country
Compliance formalities for applying the exemption scheme have been updated

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.