VAT Alert (19/12/2012)
New invoice rules from 2013 – 1 year transitional period announced
As announced in our VAT alert of 24 October 2012, Belgian VAT legislation will change on 1 January 2013 with respect to the so-called tax point rules. We’ve already highlighted that, in general, the invoice will be no longer relevant for assessing the moment on which VAT becomes due and deductible.
The legislation has been adopted in Belgian Parliament but has not been officially published yet. Moreover, the Belgian administration has not published guidelines on how to handle the new rules. As a reminder, the biggest challenge will be the correct treatment of advance invoices.
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Full article (click on title to open)