VAT return
Periodic VAT return
Information on periodic VAT returns: FPS Finance website - source 2021
What is a periodic VAT return?
The periodic VAT return aims, among other things, to inform the FPS Finance:
- the amount of transactions carried out with customers (outgoing transactions) and the VAT due on these transactions
- the amount of transactions carried out with suppliers and service providers (inbound transactions) and deductible VAT.
The purpose of the declaration is to determine the difference between the VAT due and the VAT deductible.
Do I need to file periodic VAT returns?
Yes, as soon as your business is subject to VAT and you are entitled to deduct VAT.
You can submit your periodic VAT returns monthly or quarterly.
However, you are exempt from the obligation to file periodic VAT returns in the following cases:
- Your company is subject to the tax exemption scheme
- Your company is subject to the special agricultural regime
- Your company exclusively handles deliveries of goods or services exempt under Article 44 of the VAT Code, and for which you are not entitled to deduct VAT.
Your company carries out certain activities and is not entitled to deduct VAT. These include, among others: laundry drop-off, dyeing, dry cleaning, inland waterway shipping, sale of recycled goods, and horse racing betting agencies.
Do I need to file monthly or quarterly VAT returns?
Filing monthly VAT returns is the rule.
Despite this rule, you can, under certain conditions, opt for quarterly VAT returns. The conditions are:
- Your company's turnover does not exceed 2,500,000 euros (excluding VAT).
- Your company's turnover does not exceed €250,000 (excluding VAT) for all deliveries of: energy products (mineral oils or other products intended for use as fuel), mobile phones, computers and their peripherals, accessories and components, and motor vehicles subject to registration regulations.
Important! You cannot opt for quarterly VAT returns if you are required to file monthly intra-Community statements. This is the case if the total amount of exempt intra-Community supplies and sales under triangular transactions exceeded €50,000 during the quarter in question or one of the four preceding quarters.
Calendars
VAT return filing schedule: FPS Finance website, source 2021
When do I need to file my VAT return?
You must pay the VAT due no later than the 20th of the month following the month or quarter in which the transactions took place.
For example :
- The January VAT return must be submitted by February 20th at the latest.
- The VAT return for the first quarter must be submitted by April 20th at the latest.
During the summer holidays, you get a postponement for the submission of your VAT return.
Monthly depositors:
- The June VAT return must be submitted by August 10th at the latest (instead of July 20th).
- The VAT return for July must be submitted by September 10th at the latest (instead of August 20th).
Quarterly depositors:
- The VAT return for the second quarter must be submitted by August 10th at the latest (instead of July 20th).
VAT payment schedule: FPS Finance website, source 2021
When do I have to pay the VAT I owe?
You must pay the VAT due no later than the 20th of the month following the month or quarter in which the transactions took place.
Important! The holiday period does not apply to payments. Although you have a deferral for filing your VAT return, you must still pay the VAT due by the 20th of the month following the month or quarter in which the transactions took place.
Company number verification
Verification of company number in Belgium: CBE - Crossroads Bank for Enterprises
Verification of the European VAT number
Verification of a company's VAT number in Europe: VIES - VAT number validation by VIES
Excerpts from articles provided for informational purposes, originating from external sources that may no longer be adequate.
ASCEND ACCOUNTANT disclaims all liability related to these items.