Key VAT Chain Changes from May 2026: New Accounts, Simplified Management, and Updated Refund Rules

• From May 1, 2026, the VAT system will be modernized to increase flexibility, clarity, and simplicity.
• The periodic VAT returns will be managed through a new VAT provision account, replacing the current account system.
• The holiday scheme is abolished, but penalties will be handled leniently during the 2026 transition period.
• All VAT credits and payments will be managed centrally via MyMinfin, with a new bank account number for VAT payments.
• VAT refunds via periodic returns are limited to the amount in box 72; any remaining credit can be requested through MyMinfin.
• Balances on the current account as of April 30 will be automatically transferred if all returns are filed; otherwise, companies have a few weeks to submit missing returns before a decision is made on the balance.

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.

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