The preliminary draft of the “Act to Modernise the Processing of Periodic VAT Returns” is available. It provides for amendments to the Value Added Tax Act and aims in particular at modernisation and simplification:
- the processing of the periodic VAT returns, in particular, if the taxable persons fail to submit these returns
- the VAT debts and credits resulting from these declarations
As part of the reform of the VAT chain, the bill also amends various other legal provisions on collecting taxes and non-tax receivables within the Belgian FPS system.
The preliminary draft is submitted to the Council of State for consultation.
Source: news.belgium.be
