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Belgium Introduces VAT Exemption Opportunity for Small Businesses in 2024

Belgium Introduces VAT Exemption Opportunity for Small Businesses in 2024

Businesses with an annual turnover below €25,000 can now benefit from the VAT franchise regime.

Small businesses with annual turnovers under €25,000 now have the opportunity to benefit from the VAT franchise regime. This new initiative exempts eligible businesses from most VAT obligations, simplifying administrative processes and allowing owners to focus on growth.

Eligibility and application

To qualify, your business’s 2023 turnover must not exceed the threshold. Eligible businesses will receive a notification letter titled “Application of the tax exemption regime” in May 2024, accessible through the MyMinfin portal under “My documents.”

How to apply

The deadline to opt into this VAT regime is June 1, 2024, and applications should be submitted via the e604 form.

This simplified VAT regime aims to support small business prosperity by reducing financial and administrative burdens. If you meet the criteria, applying early can help ensure a smoother transition into the new fiscal year.

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April 29, 2024
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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s,
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when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries
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