The normal rule is that VAT returns are submitted on a monthly basis in Belgium. There is however a quarterly filing option for smaller businesses whose turnover is below a certain threshold. The annual turnover threshold for companies qualifying for this quarterly option has been increased from 2014. The new reporting threshold allows quarterly filing for companies with taxable Belgian income below €2.5 million. Until 2013 the threshold had been €1 million per annum. Any companies above the €2.5m limit must submit monthly filings.
The new limit remains a voluntary threshold. Additionally, any company making VAT-exempt intra-community supplies into Belgium must also file monthly returns irrespective of their annual taxable turnover. Taxable businesses on quarterly returns must also prepay one month’s VAT based on the taxable turnover of the previous month. The balance is then settled at the time of the next return. Returns must be filed by the 20th of the month following the reporting period.
