Belgium Lower House Considers Bill to Amend Special VAT Regime for Small Businesses

The Belgian Chamber of Representatives Feb. 16 accepted for consideration Bill No. 55K3817001, to modify the special VAT exemption regime applicable to small businesses pursuant to the transposition of Council Directive (EU) 2020/285, beginning Jan. 1, 2025. The bill includes measures to: 1) maintain the existing national threshold of 25,000 euros (US$27,055) for the tax-free regime in Belgium; 2) allow small businesses established in other EU countries to benefit from the exemption if their annual turnover doesn’t exceed 100,000 euros (US$108,214); 3) exempt covered taxpayers from the obligation to submit periodic VAT declarations; 4) exclude from the exemption certain deliveries ...