As from 1 January 2025, significant changes will be introduced to the Belgian VAT compliance framework, commonly referred to as the “VAT chain”. We summarise the key measures below.

 

Abolition of the vat current account

Starting 1 January 2025, the VAT current account will be replaced by a more flexible "provision account". This new feature will allow taxable persons to manage VAT claims and settle other tax liabilities through a centralised system on the MyMinfin platform.

 

New reimbursement procedure

Monthly VAT refunds will become the standard, replacing the current quarterly system.
Accumulated VAT credits will have to be recovered through the MyMinfin platform via a specific procedure (details of which are still to be defined).

 

Urgent Actions To Take 

To avoid potential delays during the transition to the new provision account, we recommend the following actions:

  • Request VAT credits in the September/Q3 2024 VAT return (due by 20 October 2024).
  • Ensure your bank account information for VAT refunds is correctly registered on the MyMinfin platform. Without this, refunds cannot be processed, and your funds may remain locked in the VAT current account (or later in the provision account).

Please be aware that requesting a VAT refund may still trigger a VAT audit, especially if this is for a significant amount.

 

Other measures

For more details on additional measures, please refer to our comprehensive tax insights of 30 December 2022 (VAT procedure: changes as from 2023 and 2024 – Please see here).

If you have any questions regarding this topic, don’t hesitate to contact us via [email protected].
 

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