The Value Added Tax (VAT) is named in Belgium “Belasting over de Toegevoegde Waarde” (BTW) or “Taxe sur la Valeur Ajoutée” (TVA) and it has been introduced since first January 1971. Value added Tax At-a-glance:
- Rates:
- Exemptions 0 percent
- Reduced rates 12 or 6 percent
- Standard rate 21 percent
- Return:
- For quarterly filing: annual turnover ≤ €2.500.000,00
- For monthly filing: annual turnover > €2.500.000,00.
- VAT returns have to be submitted at latest on the 20st of the month following the period aimed by the return.
- For small enterprises: As from 1 April 2014 annual turnover threshold = €15.000
- Distance selling: annual threshold = €35.000,00
- Non taxable legal entities, wholly exempted businesses, “flat rate” small businesses and farmers: acquisition threshold = €11.200,00,
- Deduction of VAT on car costs for business use up to 50 percent,
- Non deductible VAT: Liquor, tobacco, hotel and restaurant costs, reception costs.
