Belgium Adopts Increase to Small Business VAT Threshold
On 26 November 2015, Belgium's parliament adopted legislation to increase the threshold for the special VAT system for small businesses from EUR 15,000 to EUR 25,000. Businesses that elect to apply the system are allowed to treat their supplies as VAT inclusive (exempt), but lose the right to deduct VAT. Only resident businesses are eligible.
The change applies from 1 January 2016.
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