Section 5, §3 of Belgian Royal Decree no. 7 provides the opportunity that the payment of VAT due on importation of goods can be shifted to the periodic VAT return. Instead of payment of the VAT to the Customs Authorities only declaration is done. In order to be able to benefit from this system, taxable persons have to request an import deferral licence and pay a “guarantee” amount up-front of 1/24th of the import VAT due (subject to annual revision). As of 1 October 2012 the payment of this “guarantee” will no longer be required.
The Government is still working on the implementation measures of this repeal as well as on transitional measures in respect of the refund of the outstanding guarantee amounts. Details will be available later.