Belgium MOF Announces Deadline for Small Businesses to Join Franchise Regime for 2023 VAT Exemptions

The Belgian Federal Public Service-Finance April 19 announced the June 1 deadline for small businesses to elect the franchise regime for 2023 VAT exemptions. The announcement also states that: 1) businesses with under 25,000 euros (US$26,597) in turnover for the previous calendar year are eligible for the regime; 2) the regime exempts eligible businesses from most VAT obligations; and 3) businesses with turnover under the threshold for 2023 will receive a letter from the Tax Authority in May explaining the regime’s terms and conditions. [Belgium, Federal Public Service-Finance, 04/19/24]

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