The Belgian government will offer fiscal relief to companies that can prove that they have payment difficulties as a result of the corona crisis.
Such companies are given the option to spread their VAT payments, professional withholding tax payments and the payments of corporate income taxes. They are also exempt from the usual fines and default interest.
There are some conditions attached and a company must submit an application as soon as payment problems arise and it must demonstrate that a fall in turnover or the cancellation of orders and reservations is the direct result of corona or a chain reaction of problems at partner companies.
The support equally includes non fiscal measures (e.g. temporary unemployment measures due to force majeure, flexibility in the execution of federal public contracts, …).
Image Source: http://unsplash.com
One thought on “Belgium: Tax measures in response to COVID-19”
[…] Source Michaela Merz […]