Belgium Extends VAT Reductions on COVID-19-Related Goods, Issues Other VAT Measures
Belgium extended its reduced value-added taxes on certain COVID-19 related goods and will reduce interest rates on late VATs and duty payments, KPMG said in a March 30 alert. The measures, announced by Belgium March 29, will maintain a reduced…
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6% VAT rate on the “intra-Community acquisition and import” of “mouth masks” and hydroalcoholic gels until June 30, KPMG said. The country will also temporarily reduce the interest rates for “negligent late payment” of VAT from 9.6% to 4% per year, which will apply to amounts payable April 1 through June 30. Other measures will reduce the threshold for VAT refunds and abolish a mandatory “advance deposit” for certain VAT return filings.