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New: Impact of the VAT package in Belgium
Frequency of VAT returns submission
- new threshold
The companies performing exempted
intra-community deliveries of goods for an amount exceeding € 400,000 will be
required to file monthly returns from the first month following the quarter in
which the threshold is exceeded.
New Boxes
VAT
return includes two new boxes:
- Box 44: base amount for
services supplied to a taxable person established in another Member State who
is liable for the payment of the tax under the new rules (currently reported in
box 47).
-
Box 88: base amount for
services received from a taxable person established in another Member State for
which the company is liable for the payment of the tax in Belgium under the new
rules (currently reported in box 87).
Warning: Belgium also determined a
new use of box 00 (exempted activities according to Article 44 of the VAT Code).
New Intra-community listing
Companies must now file a complete
list of the cross-border services performed in connection with their B2B activities.
The amounts recorded in this listing
should equal the amounts reported in box 44 minus those of box 48 of the VAT return.
This intra-community listing
will include the following new features:
- The supplies of goods must be reported
with a new code "L".
-
The triangular operations must
be reported under the code "T" (just as now).
-
The services referred to in box
44 of the VAT return must be reported with a new code "S".
The periodicity for filing this
listing becomes in principle monthly.
Companies will still be allowed
to submit the new listing on a quarterly basis provided that on one hand, they
file their VAT returns on a quarterly basis and, secondly, that the total
amount of their supplies of goods has not
exceeded € 100,000 in each of the four previous quarters.
For more information, please contact us .
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