- FOD Financiën released an information brochure on the updated VAT chain at the end of November
- The document aims to clarify the new system but has already raised some questions
- Feedback is being collected through the fiscal cell and the ITAA servicedesk
- Members can also submit feedback through the servicedesk with the subject “VAT Chain”Key points from the FOD Financiën announcement:
- The updated VAT chain will be effective from January 1, 2025
- The project aims to increase flexibility, clarity, and simplification for stakeholders and encourage compliant behavior
- Changes for VAT-liable businesses include extended filing and payment deadlines for quarterly filers
- The option to submit a corrective periodic VAT declaration after the legal deadline will be abolished
- Introduction of a response time for information requests and a substitute declaration proposal if periodic VAT declarations are not submitted
- Adjusted penalties and the VAT provision account will replace the current VAT account
- Simplified management through MyMinfin allows consultation and management of financial status in one place
- Adjusted rules for VAT refunds and new account numbers for VAT payments
- Option to pay VAT via direct debit
- These changes will be gradually implemented from January 1, 2025, to early 2026Additional information is available in a PDF document
Source: blogitaa.be
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.
