Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 12/6/2012

Belgium - VAT invoicing, chargeability rules are effective beginning 2013 

December 6:   A law passed in Belgium implements a directive (EC Directive no 2010/45/EU) concerning the rules on value added tax (VAT) invoicing, “chargeability,” self-billing, and receipt of payment.

The new VAT rules are effective 1 January 2013.


The new measures in Belgium:


  • Simplify the rules for electronic invoices
  • Provide that the invoice is no longer a cause for VAT chargeability, but that VAT is only due when the supply of goods or services is complete and payment is received.
  • State that cash accounting applies on goods and services sold to individuals, and VAT is payable to the extent payment is received
  • Include a rule for “implicit acceptance” of self-billing

Read a November 2012 report prepared by the KPMG member firm in Belgium: New VAT rules on invoicing and chargeability of the VAT as from 1 January 2013




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