by Dries Torreele and Bert Vandorpe
Early VAT credit refund
To mitigate the financial impact of the coronavirus crisis on companies, the tax administration is granting an accelerated refund of the VAT credit on the current account (as at 31 March 2020). In this case, the refund will now be made by 30 April instead of 29 May or 30 June.
Who is it for?
The accelerated refund only applies to:
- monthly declarants who have submitted their VAT returns for the month of February by 3 April 2020, and;
- ticked the box 'request for refund' in the VAT return.
If you have already submitted the declaration, you can submit an amended declaration up to and including 3 April 2020.
Additional conditions
The credit will only be refunded if:
- the minimum amount is EUR 245;
- all VAT returns for the current calendar year have been submitted;
- the tax administration has the correct account number;
- there is no opposition to this refund (e.g. garnishment or transfer of debt).
Questions about the early refund? Contact one of our specialists via corona@vdl.be.
Dries Torreele
Fiscal Jurist dries.torreele@vdl.be
Bert Vandorpe
Senior Advisor Tax bert.vandorpe@vdl.be
Disclaimer
In our opinions, we rely on current legislation, interpretations and legal doctrine. This does not prevent the administration from disputing them or from changing existing interpretations.
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