Belgium: Implementation of guarantee requirements in Royal Decree of 29 June 2021
Description
Implementation of guarantee requirements in Royal Decree of 29 June 2021
The changes regarding guarantee requirements in Royal Decree of 29 June 2021 are implemented as of 1 October 2021. The Decree contains new measures regarding the guarantee requirements for VAT registration via fiscal representatives. The amount of guarantee shall now be 10% of the VAT due for a 12-month period. However, not lower than €7'500 and not higher than €1'000'000. In the case of a group company acting as a representative, there is no longer a possibility to be released from the guarantee requirement.
Original sourceScope
Policy Area
Taxation
Policy Instrument
Indirect taxes
Regulated Economic Activity
platform intermediary: e-commerce
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body
Complete timeline of this policy change
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2021-06-29
adopted
2021-07-01
in force
Key regulatory dimensions
Regulated subjects
The businesses, government agencies or individuals affected by this policy or regulatory change.
producer / supplier
1
Type
Private organisation
Economic activity
platform intermediary: e-commerce
Category
All
Policy change by business practice
The detailed activities within the scope of this policy or regulatory change.
listing (any form): sale
Regulatory tool
Regulator reporting requirement
Subordination under sales, use or value-added tax
Sanctions
Determined by existing law or regulation
Regulated subjects
1