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Start-ups in line for faster VAT reimbursement

© Belga
© Belga

Finance Minister Johan Van Overtveldt has asked his administration to speed up the reimbursement to start-up businesses of Valued Added Tax (VAT) payments resulting from the submission of periodic tax returns. “In this way, a start-up will receive its money faster, which could avoid it cash-flow problems,” commented parliamentarian Vincent Van Peteghem of the Christian Democratic and Flemish (CDV), who had queried the New Flemish Alliance (M-VA) minister on the issue.

Until now, new businesses have sometimes had to wait for six months or more to receive their VAT reimbursements, a delay that can create financial difficulties them.

Van Overtveldt has thus asked his administration to reimburse, on a monthly basis, start-ups that submit monthly tax returns, and to reimburse every two months those that submit quarterly returns.

Andy Sanchez
The Brussels Times