Ultimately on 1 July 2023 all mixed VAT payers must notify the Belgian VAT authorities electronically of their option to (continue to) apply the direct attribution method for the determination of the right to deduct input VAT.
The Belgian VAT legislation will be amended as from 1 January 2023 regarding the statute of limitation, the retention period and applicable interest rate.
In addition, a draft law is approved and should modernize the VAT chain and the processing of periodic VAT returns as from 2024.
As a reminder, companies, non-profit associations, foundations, trusts and other constructions established in Belgium are required to disclose information about their beneficial owner(s)to the UBO Register.
As from 1 July 2022, non-EU taxpayers will have to request the refund of Belgian VAT electronically. The main goal of this new VAT refund procedure is to be able to process the refund requests from British companies more efficiently.
This implies that the refund procedure will be largely harmonized with the refund procedure for EU companies.
Earlier this year the ‘law on various tax provisions of 21 January 2022’ was published in the Belgian Official Gazette. Within this month’s Tax Insights, special attention is paid to one of these provisions which drastically alters the existing regulations on the annual preparation of the fee forms 281.50 aiming to reduce the administrative burden for companies.
By the end of last month, the Belgian tax authorities finished determining the notional rental value or so-called ‘cadastral income’ (hereafter referred to as NRV) of foreign real estate properties owned by Belgian tax residents and notifying the Belgian property owners hereof.
The law of 25 November 2021 regarding the tax and social greenification of mobility leaves little to the imagination. Carbon emission company cars will be fiscally discouraged and will in all likelihood gradually disappear from the street scene.
As from 1 January 2022, the VAT recovery on imports into France is transferred from the Customs Authorities (DGDDI) to the Directorate General of Public Finances (DGFIP).
Here are the key elements of this change.