No December advance VAT payment in 2020
Under normal circumstances, your company is required to make an advance payment for the VAT of December no later than 24 December. You pay this advance in respect of the VAT due on the transactions of the fourth quarter of each calendar year (for companies declaring quarterly VAT returns) or on the VAT due in respect of the December VAT return (for companies declaring monthly VAT returns). Owing to the Covid-19 pandemic, you will not be required to perform a December advance payment this year.
In principle, both the companies submitting quarterly VAT declarations and those submitting monthly VAT declarations are required to make an advance payment in December. This payment is due no later than 24 December.
No December 2020 advance payment owing to Covid-19 pandemic
However, owing to the Covid-19 pandemic, a deviation from this principle applies this year. In 2020, taxable persons, required to submit a periodic VAT return, are not obliged to perform an advance payment in December. They can pay the VAT due for the last VAT declaration (4th quarter or December 2020), no later than the 20th day of the month following the declaration period. In other words, the VAT is only due no later than 20 January 2021.
More information?
As a client of Baker Tilly, you can contact Wim De Pelsmaeker, VAT Partner, Eloïse Vanstaen, Tax Consultant or your file manager.
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