Belgium urged to raise VAT rates

Belgium told by IMF to raise VAT

Belgium has been urged by the International Monetary Fund to raise it VAT rate in order to help fund labour tax cuts, whist Belgium has returned to growth and reduced budget deficits, structural reforms are needed to support growth.

Belgium has already scheduled a cut in the social security levies from 33% to 25% through cuts elsewhere. But the IMF has suggested that a rise in the reduced VAT rate from the current 6% and 12% (on restaurants) or removal of exemptions. Belgium’s standard VAT rate of 21% is currently below the average for the European Union, this is due to the fact they haven’t raised the standard tax since 1996, whereas all its European neighbours have raised theirs.

Laura Stockley
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Laura Stockley

Consultant at eBiz Answers Ltd
Laura graduated from University with a degree in Business Studies, and has been working as an Oracle eBTax consultant for several years now, with both R12 eBTax and Fusion (Oracle Cloud) Tax. Focussing primarily on the tax module and its components, Laura also works on the other financial modules and understands how they integrate with the tax engine. Laura has worked on projects with multiple clients covering all aspects of the tax module including AP, AR and GL, working on everything from design, configuration, testing to support. An excellent communicator, Laura enjoys interacting with end users and relishes the challenge of resolving their issues; making tax an enjoyable experience, always.
Laura Stockley
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